Clarus Financial Technology reports that Sandy Broderick, the former CEO of DTCC’s Deriv/SERV, has been named to its advisory board.
Deriv/SERV is the DTCC subsidiary that provides automated repository and asset servicing for over-the-counter (OTC) credit derivatives trades.
Broderick, a capital markets veteran, headed DTCC Deriv/SERV “through the rollout of its Global Trade Repository in Asia and Europe, focusing on increased transparency, regulatory reporting across jurisdictions, risk mitigation and operational efficiency,” Clarus says in a statement.
Broderick also is a former CEO of New York Portfolio Clearing, a joint venture between DTCC and the New York Stock Exchange, and a former chairman of OTC DerivNet.
“The new regulatory framework imposes challenging reporting requirements for which Clarus can provide technological and operational solutions,” Amir Khwaja, Clarus CEO, says in the statement. “Sandy brings expertise in technology, risk management and the trading and clearing of derivative products, so is ideally placed to help advise Clarus in this exciting period of expansion.”
For his part, Broderick saluted London- and Chicago-based Clarus, which characterizes itself as an “online knowledge base focused on the global financial sector,” and its products in development, saying, “I am delighted to be joining Clarus at a time of significant change in the market,” and at “this exciting point in the evolution of a new regulatory landscape.”
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