DTCC Connection

DTCC’s Vice Chairman Larry Thompson was named the recipient of the Lifetime Achievement Award, and DTCC took top honors as the “Best Clearing House,” at the 5th Annual Markets Choice Awards. The black-tie awards dinner was co-sponsored by Markets Media and Traders Magazine and was held April 19 in Midtown Manhattan.

“It’s a tremendous honor to be considered for this award, no less to win it,” said Thompson, who played an integral role in many high-profile industry issues during his more than three decades at DTCC, from the Lehman Brothers bankruptcy to the Knight Securities’ trading incident. Thompson, who previously served as DTCC’s General Counsel, played a critical role following the September 11 terrorist attacks to keep DTCC open and operating.

Markets Choice Award winners were selected by industry participants in the institutional trading and investing community, including buy side, sell side, exchanges and trading technology firms. “It’s extremely gratifying to know that I was nominated and selected by my peers,” Thompson said, “and for that, I’m most grateful – and humbled.”

DTCC President and CEO Michael Bodson said the recognition of Thompson’s achievements reflect the impact he has had on DTCC and the industry at large. “Larry’s contributions and accomplishments have consistently shaped the industry and the community around him for the better,” Bodson said. “He has created a strong legacy of achievement that he continues to build upon every day.”

He further pointed to Thompson’s work after the financial crisis to establish stronger relationships with key stakeholders, such as lawmakers, regulators and market participants. “His efforts have helped to ensure that policymakers understand the unique perspectives of DTCC and our members as new rules and mandates are written and implemented,” Bodson said.

In his role as Vice Chairman of DTCC, Thompson serves as a chief spokesperson for DTCC at events and conferences and with the media. He recently delivered a keynote address at the U.S. Treasury Department’s Office of Financial Research, European Central Bank and Bank of England Joint Workshop. His speech – “Setting Global Standards for Granular Data: Sharing the Challenge” – outlined a number of themes that Thompson often addresses to raise awareness of the importance of standardization, transparency, collaboration and increased automation to mitigate risk in the global derivatives markets.

DTCC Wins Best Clearing House Award

DTCC was also honored as “Best Clearing House” during the event, in recognition of its commitment to providing highly efficient and reliable clearing services across the U.S equities and fixed income markets.

Murray Pozmanter, DTCC Managing Director and Head of Clearing Agency Services and Global Operations, reaffirmed DTCC’s strong commitment to the security and efficiency of the financial services industry.

“DTCC has a long history of driving innovation in the marketplace, and we stand as a ready partner with our clients and other stakeholders to further reduce risk and costs while enhancing efficiencies,” Pozmanter said. “Our focus has always been on ensuring that markets operate efficiently, safely and securely. We are proud to be recognized with this award for the breadth of our 40-years of experience protecting the integrity of the financial system.”

In 2016, DTCC cleared an average of $965.5 billion in equities trades daily. It also processed $917 trillion in government securities. DTCC clears and settles virtually all broker-to-broker equity, listed corporate and municipal bond and unit investment trust (UIT) transactions in the U.S. equities markets. It is also the leading provider of trade comparison, netting and settlement for the government securities market and for mortgage-backed securities.