Options Clearing Corp Names Luke Moranda as VP, CIO

Options 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 Corp. (OCC), the largest equity derivatives clearing organization, has named Luke Moranda as its newest senior vice president and chief information officer (CIO), according to an OCC statement.

In his new role as the senior VP and CIO, Mr. Moranda will spearhead the group’s technology vision as well as overall strategy, helping OCC’s clearing members. He will be succeeding Raymond Tamayo, where he will report to OCC President and COO Michael McClain.

Mr. Moranda has landed at OCC from JPMorgan, having worked as the bank’s managing director for clearing technology and global Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term technology in the treasury services technology segment. In addition to JPMorgan, he has also worked in a number of executive roles at Heller Financial Capital and Accenture.

According to Craig S. Donohue, OCC executive chairman, in a recent statement on the appointment, “We are pleased that Luke has agreed to join our leadership team, “He brings a proven track record of success in driving technology change in a critical business environment that requires exceptional levels of resiliency. This is important as we continue to invest in new technology and people that will strengthen our capabilities to meet the ever-changing marketplace expectations for systemically important market utilities such as OCC.”

“On behalf of our board and management team, I want to thank Ray for his years of service to OCC. He had many accomplishments, including modernization of our infrastructure, increased cyber preparedness, and the implementation of ENCORE prices. I appreciate Ray’s willingness to stay on for a period of time as part of our succession planning to create a seamless transition for Luke, our team, and our clearing member firms,” added Mr. Donohue.