FICC Targets Risk Reduction & Capital Relief The Fixed Income Clearing Corp. (FICC), a DTCC subsidiary, has launched a repo clearing offering, the Centrally Cleared Institutional Tri-Party (CCIT) Service, that is intended to provide risk reduction and potentially capital relief, officials say. In fact, hedge fund giant Citadel and investment bank Morgan Stanley have already… Read More >>
DTCC Shuffles Managers for Key Businesses
DTCC Appoints Matthew Stauffer, Others to New Posts Officials at the Depository Trust & Clearing Corp. (DTCC) report that they have shaken up the management for key businesses, including the appointment of Matthew Stauffer as managing director and head of institutional trade processing, effective June 30, 2017. In other major organizational moves, the post-trade market… Read More >>
DTCC Taps Barclays for Deriv/SERV Post
DTCC Appoints MD for DTCC Deriv/SERV The DTCC, post-trade market infrastructure services provider, reports that Valentino (Val) Wotton has been appointed managing director for the DTCC’s Deriv/SERV business unit, effective August 29, 2017. Wotton will be “responsible for product development and strategy,” and will report to Chris Childs, president and CEO of DTCC Deriv/SERV. Prior… Read More >>
DTCC Fills Key Equity Clearing Post
DTCC Hires from Options Clearing Corp. The DTCC, a post-trade market infrastructure services provider, reports that Michael McClain has joined as a managing director and general manager of equity clearing. McClain will be responsible for heading the “day-to-day equity clearing business operations and strategic initiatives,” and will report to Murray Pozmanter, managing director and head… Read More >>
DTCC Declares Omgeo Alert an SSI Utility
Post-trade infrastructure services provider DTCC has designated its recently enhanced Omgeo Alert repository for standing settlement instruction (SSI) data as a de facto “single and centralized” SSI utility. DTCC officials timed the announcement to coincide with SIFMA’s T+2 shorter settlement conference in New York today. The utility approach to SSI data management began about three… Read More >>
Global LEI Overseer Officially Blesses DTCC’s GMEI
The Legal Entity Identifier (LEI) utility subsidiary of post-trade infrastructure provider DTCC has gotten an official accreditation from a global overseer that will boost the number of LEIs in the system and bolster the initiative, says Ron Jordan, managing director, chief data officer at the DTCC. In fact, the blessing from the Global Legal Entity… Read More >>
Four Women Nominated for Top Ops Prize of FTF Awards
Four women have made the list of nominees for the Ops Business Person of the Year category of the 2017 FTF News Technology Innovation Awards, reports Financial Technologies Forum (FTF), owner of online news service FTF News and FTF Focus magazine. In addition, FTF reports that it has finalized the list of nominees and has… Read More >>
What If Blockchain/DLT Lives Up to the Hype?
As this year gathers steam, the many blockchain/distributed ledger technology (DLT) projects out there are beginning to yield results. We have just reported on Northern Trust and its efforts with IBM http://bit.ly/2lSPlrw and I’m sure there are many more to come. One of the more intriguing DLT projects is the joint effort between the old… Read More >>
DTCC Promotes Ann Shuman to General Counsel
Post-trade infrastructure provider DTCC has promoted Ann Shuman from the post of DTCC managing director and deputy general counsel to the position of general counsel for the company, as of February 1, officials say. Shuman replaces Larry Thompson, who is stepping down to serve full time as vice chairman of DTCC, a post he has… Read More >>
Richard Ketchum Re-Emerges at MarketAxess
Richard Ketchum Joins MarketAxess Board of Directors Richard G. Ketchum, a Nasdaq and SEC veteran and former chairman and CEO of the Financial Industry Regulatory Authority (FINRA), will be serving on the board of directors of MarketAxess Holdings Inc., as of April 1, 2017, officials say. In his career, Ketchum has served in many senior… Read More >>
