Chinnici-Everitt will report to Andrew Gray, DTCC
Managing Director, Core Business Management.
financial market and its infrastructure, which ideally prepares him for his work at DTCC
Last April, in a move that was endorsed by leading insurance carriers and service providers alike, DTCC
took its first steps towards fostering industry- wide standards by permitting use of its Annuity Applications and Subsequent Premium record layouts for the sale and processing of fixed and variable annuity applications, services known as APP and SUB.
has already signed up most of the major players on the dealer side of the market, with 17 of the largest dealers worldwide subscribed.
NEW YORK -- The Depository Trust & Clearing Corporation (DTCC
) Insurance & Retirement Services (I&RS) released today January information on activity in the market for annuity products from its award-winning Analytic Reporting for Annuities online information service, which leverages data from the transactions that DTCC
processes for the industry.
Macek recently assumed broader management responsibilities at DTCC
, to include becoming chief executive officer of two DTCC
subsidiaries, Fixed Income Clearing Corporation (FICC) and the Emerging Markets Clearing Corporation (EMCC), as well as overseeing the risk management and finance functions at the company.
Koster also pointed out that DTCC
consolidated the settlement systems of its two subsidiaries -- NSCC and the Depository Trust Company (DTC) -- into one settlement platform in 2003, providing a single entry point for all customers and settling banks to access settlement obligations for both organizations.
The Global Trade Repository services for Foreign Exchange, Credit, Interest Rates and Equity Derivatives are services of DTCC
Derivatives Repository Limited, a wholly-owned subsidiary of DTCC
In pilot for just six months, DTCC
worked with several firms to establish the business requirements for SMART/Source, including the advanced search capabilities for reference and event data.
Under Don's leadership, DTCC
firmly established its global footprint and demonstrated a consistent ability to manage and mitigate systemic risk in the global capital markets.
Axilrod noted that DTCC
has also recently rolled out several more minor enhancements to its payment reconciliation service.
Analytic Reporting for Annuities is an award winning online information solution containing aggregated data from transactions processed by the I&RS of DTCC