DTCC Marks 20 Years in the U.K. via an Expansion, while Bats and Orc Spotlight New Appointments
DTCC Predicts 40% U.K. Workforce Y2Y Increase
The DTCC, a post-trade market infrastructure for the financial services industry, reports a “significant expansion of its workforce across the firm’s primary European locations,” which are in both London, England, and Wrexham in north Wales.
DTCC predicts that it will have approximately 700 employees in the UK by the end of this year — “an increase of 40% on 2014, which is the result of a sustained hiring program in the North Wales area over the past 18 months,” officials say.
The London office was established originally 20 years ago, in 1995, “to address the post-trade requirements of clients who were rapidly expanding their footprints in Europe,” according to a DTCC history. “Six years later, in 2001, DTCC further grew its presence when it partnered with Thomson Reuters (formerly Thomson Financial) to create Omgeo, a joint venture focused on streamlining post-trade operations, including trade matching and confirmation and standing settlement instructions (SSIs). DTCC fully acquired Omgeo in 2013, facilitating a unified strategy around industry initiatives such as the SSI Utility.”
The Wrexham offices have “served as a cornerstone for DTCC’s expansion beginning with the 2010 acquisition of Avox, the industry leader in legal entity reference data,” DTCC says, also calling Wrexham the “base for the development and launch in 2012 of the Global Markets Entity Identifier [GMEI],” its utility that issues legal entity identifiers [LEIs], offered in collaboration with SWIFT.
Wrexham also is the European operations center for Clarient Global, DTCC notes, which was “launched last year as a joint venture with Barclays, BNY Mellon, Credit Suisse, Goldman Sachs, JPMorgan Chase and State Street, to deliver a comprehensive client data management and KYC utility for the industry.”
“Financial market infrastructures like DTCC are playing a more prominent role than ever before because of our track record in centralizing, standardizing and automating post-trade, clearing and settlement processes to mitigate risk, reduce costs and enhance operating efficiencies,” Michael Bodson, DTCC president and CEO, says in the statement. “Developing specialist centers of excellence is important for our future development as it allows us to look at opportunities holistically, understand the perspectives of different market participants across regions and offer our global client community innovative new solutions.”
DTCC maintains operating facilities, data centers and offices in 16 countries, the company also notes. “In 2014, DTCC’s subsidiaries processed securities transactions valued at approximately US$1.6 quadrillion. Its depository provides custody and asset servicing for securities issues from over 130 countries and territories valued at US$64 trillion. DTCC’s global trade repository maintains approximately 40 million open OTC positions and processes roughly 280 million messages a week.”
Bats Global Markets Adds Market Data and Exchange-Traded Product Listings Specialists
Bats Global Markets (Bats), an operator of exchanges and services for financial markets, reports the hiring of Kal Chan as director, market data sales, and Robert J. Marrocco as director of listings.
Both Chan and Marrocco are based in Bats’ New York office, with Chan reporting to Drew Carey, director, market data sales, and Marrocco reporting to Laura Morrison, senior vice president and global head of exchange-traded products.
Chan, who joined recently, brings eight years of industry experience to the exchanges operator, BATS says. “Most recently, Mr. Chan was responsible for sales and account management at Interactive Data 7ticks where he worked with broker-dealers, investment banks and hedge funds to provide end-to-end trading solutions including trading access and market data.
“Prior to Interactive Data, Mr. Chan worked at Bloomberg as a sales and account manager, working with hedge fund and asset managers to provide trading analytics, electronic trading, and order management services tailored to clients’ investment strategies,” Bats officials say.
Marrocco recently joined from the New York Stock Exchange (NYSE), where he was an associate in the global index and exchange traded products group. “In his role, he managed new exchange-traded product (ETP) listings and supported NYSE Arca’s existing ETP business, liaising with issuers and market makers,” BATS says, adding that he “directed and administered NYSE Arca’s Lead Market Making (LMM) Program and worked with NYSE Regulation to ensure issuer adherence to listing standards.”
NYSE’s Arca, as its archipelago exchange is known informally, is a Chicago-based exchange where both stocks and options are traded.
Orc Appoints Top Management for the Americas
Orc, a specialist in electronic trading technology for listed derivatives, reports the appointment of Jesper Alfredsson as president Orc Americas and Oscar Jönsson as vice president sales, Orc Americas.
Both men started their careers at Orc in its Stockholm office. Since joining Orc in Stockholm in 1998, Alfredsson has held positions in sales, services and product management, Orc says. Most recently, he served as chief strategy officer and vice president, engineering.
In his new post, Alfredsson will “oversee activity in the region and contribute to the strategic direction of the company,” the company says.
Jönsson joined the company in 2007 as a trading software analyst and also has held positions as sales engineer and product manager. Most recently, he worked with strategic business development.
In his new post, Jönsson’s “mission with Orc Americas will focus on strengthening client relationships and building new business.”
Orc, which is owned by Orc Group Holding AB, which in turn is majority-owned by Nordic Capital Fund VII, specifies that it has 200 customers in more than 30 countries, as well access to over 150 trading venues and offices.
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