Michael McClain is Managing Director and General Manager of Equity Clearing and DTC Settlement Services at DTCC. In this capacity, McClain has direct responsibility for the day-to-day management of equity clearing activities for trades executed on the major U.S. exchanges and other equity trading venues and will further align the company’s efforts around settlement optimization while creating new capabilities. He is also responsible for several DTCC core products and services, including Continuous Net Settlement (CNS), Automated Customer Account Transfer Service (ACATS), Cost Basis Reporting Service (CBRS), and Exchange Traded Funds (ETFs).
Before joining DTCC in 2017, McClain served for nearly 16 years at The Options Clearing Corporation, most recently as Chief Operating Officer. In this capacity, he oversaw OCC's Technology and Operations. Prior to that, he held senior roles in Business Development, New Products and Strategy and was responsible for the buildout of OCC’s business continuity site in Texas. Earlier in his career, he held positions at Accenture and IBM, specializing in large-scale initiatives for the financial industry.
McClain represents DTCC on the World Federation of Exchange’s (WFE) Working Committee. Previously, he served as a member of the Advisory Board of Directors for the International Options Market Association (IOMA) and also held positions on the Securities Industry Financial Markets Association (SIFMA) Operations and Technology Steering Committee and the Futures Industry Association.
He received his B.A. degree from Lewis University and an MBA from the Kellogg School of Management, Northwestern University.
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