Post-trade infrastructure provider the Depository Trust & Clearing Corporation (DTCC) has announced the appointment of Lisa Hershey as managing director and chief compliance officer. She will have responsibility for leading the firm’s compliance function effective January 1, 2021 and will report to Ann Shuman, DTCC’s managing director and general counsel. Hershey joined DTCC in 2009, […]
The Depository Trust and Clearing Corporation (DTCC) has unveiled plans to explore the benefits of digitalisation in the public and private markets and whether new technologies can strengthen post-trade processes and reduce risks and costs. The proposals are contained in two case studies that advance the organisation’s efforts to evaluate new ways to enhance post-trade […]
The Depository Trust & Clearing Corporation (DTCC), which provides post-trade infrastructure, today announced the election of two new members to its Board of Directors during the firm’s annual shareholders meeting. The new directors are Deborah Cunningham of Federated Hermes, and Craig Messinger of Virtu Financial. Cunningham is a chief investment officer of global liquidity markets at Federated Hermes. She joined Federated in 1981 […]
With the adoption of distributed ledger technology (DLT) expected to grow in financial services, the Depository Trust & Clearing Corporation (DTCC) published a white paper on “Security of DLT Networks”, that recommends establishing a comprehensive, industry-wide DLT Security Framework to review existing security guidelines, gaps in the approach to DLT security, and the need for increased standards. The […]
LedgerX co-founders and senior executives, Paul Chou and Juthica Chou, have been placed on administrative leave by the board of directors of the platform’s parent company, Ledger Holdings. The board has installed Larry Thompson, formerly vice chairman of the Depository Trust & Clearing Corporation (DTCC), as interim CEO and lead director of the firm. Paul […]
The Depository Trust & Clearing Corporation has announced the appointment of Lynn Bishop as chief information officer (CIO), effective immediately. In this role, Bishop is responsible for the ongoing development and testing of all the technology that supports DTCC’s post-trade infrastructure, communications networks, processing and messaging systems, as well as the IT applications underlying DTCC’s […]
One of the ongoing problems regarding the adoption of cryptocurrencies by mainstream financial firms was on full display at a fintech event hosted by the Depository Trust & Clearing Corporation (DTCC) in New York this week. The problem was highlighted by a fairly innocuous sounding question from the moderator: what is the problem that cryptocurrencies […]
DTCC-Euroclear Global Collateral, the joint venture of Euroclear and The Depository Trust & Clearing Corporation (DTCC), has announced that the Margin Transit Utility (MTU) collateral settlement infrastructure community has added six more dealers to its roster as it moves beyond its pilot production phase.
Goldman Sachs, JP Morgan, Morgan Stanley, Societe Generale, UBS and Wells Fargo have adopted MTU, Global Collateral says, joining over 30 investment management, administrator and custodian firms, including Brandywine Global Investment Management, Fidelity International, Franklin Templeton, Vanguard and Brown Brothers Harriman (BBH) who have adopted the service.
In this week’s In the FICC of It from Profit & Loss Colin Lambert lifts the veil of secrecy around how this podcast is created and Galen Stops talks about democratising financial markets. They also engage on the latest FX volume surveys and ask ‘are they accurate?’ as well as talk about the impact of regulation on non-bank market makers. They also seek to explode the myth that people are leaving the banking industry in droves and briefly touch upon what Colin Lambert calls ‘the madness of regulation’.
DTCC-Euroclear Global Collateral, a joint venture of Euroclear and The Depository Trust & Clearing Corporation, and NEX, have announced a new partnership to streamline and improve OTC derivatives margin call processes.
As a new member of the Global Collateral Partner Program, NEX is currently working to link its TriResolve Margin Web-based collateral management solution with Global Collateral’s Margin Transit Utility to provide mutual clients with a centralised view across margin call operations. The connected service will also help users to meet regulatory compliance objectives around the margining of uncleared OTC derivatives transactions.