DTCC Secures Jim Hraska as its General Manager of FICC
- Mr. Hraska will be tasked with leading the unit’s efforts to help mitigate risks and costs across the US fixed income markets
The Depository Trust & 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 Corporation (DTCC), one of the leading post-trade market infrastructures for the global financial services industry, has secured Jim Hraska as its newest Managing Director and General Manager of the group’s Fixed Income Clearing Corporation (FICC), per a DTCC statement.
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In his new role Mr. Hraska will be tasked with leading the unit’s efforts to help mitigate risks and costs across the US Fixed Income markets, one of the largest segments in the country. This will also include a mandate to develop the DTCC’s Buy-Side Buy-Side The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim Read this Term participation in FICC clearing services, along with a multi-year project to simplify the MBS netting and settlement process.
Mr. Hraska joins DTCC from the banking sector, having worked at Barclays as its Global Director of Product Management – in this capacity he focused on financing and structural reform. Overall he has over two decades of experience in the financial securities industry, garnering a rich background in fixed income and equity financing, equity derivatives, financial engineering, reinsurance, structured credit products, futures, and global clearance, among others.
Murray Pozmanter
According to Murray Pozmanter, Head of Clearing Agency Services at DTCC, in a recent statement on the appointment: “Jim joins DTCC at a critical time, as the industry looks to further reduce risks and costs across asset classes while retaining the safety and soundness that are paramount to the functioning of the global markets. His extensive experience will be a significant asset to the firm, and we look forward to having him spearhead new initiatives at FICC that provide even greater value to our clients and the broader industry.”
“I am pleased to be joining DTCC and, more specifically, FICC. There is significant potential to transform post-trade operations within the fixed income space, such as through DTCC’s MBSD novation initiative and adding buy-side participants to the FICC, and I look forward to working with my peers and the industry to drive continued improvements,” explained Mr. Hraska, in an accompanying statement.
The Depository Trust & 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 Corporation (DTCC), one of the leading post-trade market infrastructures for the global financial services industry, has secured Jim Hraska as its newest Managing Director and General Manager of the group’s Fixed Income Clearing Corporation (FICC), per a DTCC statement.
Don't miss your last chance to sign up for the FM London Summit. Register here!
In his new role Mr. Hraska will be tasked with leading the unit’s efforts to help mitigate risks and costs across the US Fixed Income markets, one of the largest segments in the country. This will also include a mandate to develop the DTCC’s Buy-Side Buy-Side The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim Read this Term participation in FICC clearing services, along with a multi-year project to simplify the MBS netting and settlement process.
Mr. Hraska joins DTCC from the banking sector, having worked at Barclays as its Global Director of Product Management – in this capacity he focused on financing and structural reform. Overall he has over two decades of experience in the financial securities industry, garnering a rich background in fixed income and equity financing, equity derivatives, financial engineering, reinsurance, structured credit products, futures, and global clearance, among others.
Murray Pozmanter
According to Murray Pozmanter, Head of Clearing Agency Services at DTCC, in a recent statement on the appointment: “Jim joins DTCC at a critical time, as the industry looks to further reduce risks and costs across asset classes while retaining the safety and soundness that are paramount to the functioning of the global markets. His extensive experience will be a significant asset to the firm, and we look forward to having him spearhead new initiatives at FICC that provide even greater value to our clients and the broader industry.”
“I am pleased to be joining DTCC and, more specifically, FICC. There is significant potential to transform post-trade operations within the fixed income space, such as through DTCC’s MBSD novation initiative and adding buy-side participants to the FICC, and I look forward to working with my peers and the industry to drive continued improvements,” explained Mr. Hraska, in an accompanying statement.