DTCC On-Boards Michael McClain as its General Manager of Equity Clearing

The Depository Trust & Clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term Corporation (DTCC), a provider of post-trade market infrastructure for the global financial services industry, has on-boarded Michael McClain as its newest Managing Director and General Manager of Equity Clearing, according to a company statement.

In his new role Mr. McClain will be tasked with overseeing the day-to-day equity clearing business operations and strategic initiatives. In this capacity he will be reporting to Murray Pozmanter, Managing Director and Head of Clearing Agency Services.

Mr. McClain lands at DTCC from the Options Clearing Corporation (OCC), having worked previously as its Chief Operating Officer. Additional roles also include senior stints in its Business Development, New Product, and Strategy units at OCC.

According to Mr. Pozmanter in a statement on the appointment: “Michael has decades of experience and a deep knowledge of the financial markets, and his leadership will be critical as the industry continues looking to us for increased support. We look forward to Michael bringing new ideas on how we can Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term our technology to help solve the industry’s top operational challenges.”

“I couldn’t think of a more exciting time to join DTCC than right now. The firm is at the forefront of so many important industry issues and remains committed to advancing an agenda focused on protecting the safety and soundness of the capital markets. We have a unique opportunity during this period of financial transformation to build upon the firm’s legacy and help to further reduce risks and costs for clients,” explained Mr. McClain.