New York Portfolio Clearing Names CEO

New York Portfolio Clearing (NYPC) appointed Walter Lukken as CEO, effective May 1, 2010.

NYPC is the innovative joint venture of DTCC and NYSE Euronext, created to deliver unique capital efficiencies to the market by evaluating and margining a clearing member’s risk on a portfolio basis across both cash bonds and derivatives. Announced in June 2009, NYPC is currently undergoing regulatory review and expects to be operational in the third quarter of 2010.