The Chamber of Digital Commerce has appointed Mark Wetjen of The Depository Trust & Clearing Corporation (DTCC) to its Board of Advisors as the DTCC joins the Chamber’s Executive Committee. Former Commissioner at the U.S. Commodity and Futures Trading Commission (CFTC), Mr. Wetjen currently serves as the Head of Global Public Policy at the DTCC.
“New technologies are creating tremendous opportunities to connect economies around the world, make markets safer and more efficient and deliver services to consumers in novel ways. In particular, distributed ledger technology offers the industry a unique opportunity to drive targeted improvements to the financial market infrastructures that underpin the global capital market,” said Mark Wetjen. “I am pleased to join the Chamber and look forward to collaborating with the industry around fintech and blockchain strategies, which will be important to any future re-architecting of the post-trade environment.”
DTCC is a post-trade market infrastructure provider, processing nearly $1.5 quadrillion worth of securities transactions a year. It has a focused blockchain strategy to ensure the firm capitalizes on distributed ledger opportunities. DTCC announced significant advancements with a number of business use cases and is currently working on several proof of concepts, including initiatives related to repurchase agreements (repos) and credit default swaps (CDS).
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“We are excited to have Mark bring his vast experience and knowledge of financial markets and technology to our association and the Board of Advisors. Mark and the Board will help to shape the next chapter of financial services technology,” said Perianne Boring, founder and President of the Chamber.