DTCC Announces Two New Members of Board of Directors

On Wednesday, the Depository Trust & Clearing Corporation (DTCC), a leading post-trade market infrastructure for the global financial services firms, announced that it has appointed two new members.

DTCC selected William Capuzzi from Apex Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term Solutions and Kelley Conway from Northern Trust to be part of its Board of Directors, effective immediately. Capuzzi is the CEO of Apex Fintech Solutions and has spent his entire career in the trading, clearing and custody business with over 20 years of experience. He held senior positions at companies like Convergex, Pershing and DLJ.

Also, Conway is the current Executive Vice President and Head of Corporate & Digital Strategy at Northern Trust. She has over 20 years of consulting experience in technology strategy, previously served in roles at firms like Accenture and PwC.

DTCC currently has 22 directors on its Board of Directors. In addition to 14 participant directors, these include international broker/dealers, custodians and clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term banks and investment institutions, 4 non-participating Directors; 2 directors are appointed by DTCC’s preferred shareholders, ICE and FINRA; and DTCC’s Chairman and CEO are non-executive directors.

“We are pleased to welcome Bill and Kelley to the Board of Directors. Each brings decades of leadership and experience in financial services technology, which will be invaluable as DTCC continues to drive innovation by bringing new solutions and capabilities to market. We look forward to their insights and contributions,” Robert Druskin, Non-Executive Chairman of DTCC’s Board, commented on the appointments.

DTCC Launches Treasury Kinetics Service

Recently, the DTCC announced the launch of DTCC Treasury Kinetics. DTCC launched the new service in order to provide access to trade data for US treasury securities as part of its efforts to enhance transparency in repo markets.

DTCC stated that the increasing volatility in the repo markets underpins the need for repo market players to have access to data that provides greater transparency and understanding of rates, valuation and liquidity.