Investing.com - Depository Trust & Clearing Corp., the main firm responsible for clearing US stock trades, is working with Amazon.com Inc. to move its core systems to the cloud by the end of the decade.

DTCC is building systems to shift its clearing, settlement and risk-management tools to the cloud in phases, with the help of Amazon Web Services, Chief Information Officer Lynn Bishop said in an interview.

"Resiliency is very much a driver for us — the ability to design the infrastructure for the future of markets, leveraging the cloud," Bishop said. The goal is to be more "flexible, nimble and adaptable, with architecture that can scale."

Last year, the Securities and Exchange Commission issued a "no-objection" letter to DTCC, permitting the firm to host a subset of its clearing and settlement systems on the public cloud.

DTCC's plans follow other financial firms that have sought to shift more trading infrastructure and other applications to the cloud. CME Group Inc., the largest derivatives exchange in the US, is moving some of its markets to the cloud before year-end, Bloomberg reported in March.

DTCC said it started working with AWS more than a decade ago to shift some non-core systems to the cloud.

DTCC's move to the cloud is being done alongside other changes, including its planned expansion of clearing hours to support the growing interest in trading.

"This modernization effort and the cloud position us to handle that," Bishop said.

DTCC also expanded its current partnership with Microsoft, which is working on the infrastructure for the company's crypto operations, DTCC Digital Assets.