< The 2014 Tech 50: Moving Out of the Lab and Into the Cloud
15
Michael Bodson
President and ChiefExecutive Officer
Depository Trust & Clearing Corp.
Last year: 18
Depository Trust & Clearing Corp., the financial industry’s premier posttrade utility, handled $1.6 quadrillion in securities last year. But large-scale, low-unit-cost transaction processing is just part of the value DTCC delivers. Its mission is “mitigating risk, increasing transparency and driving efficiency” for the thousands of institutions that are its customers and owners, president and CEO Michael Bodson tirelessly asserts. In contrast to companies caught up in the heat of day-to-day competition, the New York–based infrastructure operator brings a long-term, big-picture perspective to matters of collective interest, and one particular piece of foresight is about to pay off: Thirteen years after the U.S. securities industry deemed a proposal to shorten the three-day trade settlement cycle “not ready for prime time,” in Bodson’s words, DTCC has the T+2 (trade date plus two days) plan back on track. After the financial crisis, which heightened sensitivity to the operational and counterparty risks that faster turnaround would alleviate, “the industry is moving forward on many of the building blocks outlined earlier and is better prepared to move to T+2,” says the 56-year-old former Morgan Stanley executive, who has headed DTCC since July 2012. On another big issue, cybersecurity, Bodson says collaboration within the financial industry and between the public and private sectors has been “impressive” in identifying and countering threats and that “more of this needs to be done globally.”
The 2014 Tech 50
1
1
3
4
5
Thomas Secunda
Bloomberg Jeffrey Sprecher
Intercontinental Exchange Catherine Bessant
Bank of America Corp. Stephen Neff
Fidelity Investments Lance Uggla
Markit 6
7
8
9
10
Robert Goldstein
BlackRock David Craig
Thomson Reuters Phupinder Gill
CME Group Anna Ewing
NASDAQ
OMX Group R. Martin Chavez
Goldman Sachs Group 11
12
13
14
15
Deborah Hopkins
Citi Ventures Dan Mathisson
Credit Suisse Daniel Coleman
KCG Holdings Michael Spencer
ICAP Michael Bodson
Depository Trust &
Clearing Corp. 16
17
18
19
20
Joe Ratterman
BATS Global Markets Dominique Cerutti
Euronext Ron Levi
GFI Group Gaurav Suri
D.E. Shaw Group Charles Li
Hong Kong
Exchanges and
Clearing 21
22
23
24
25
Lou Eccleston
S&P Capital IQ Lee Olesky
Tradeweb Markets Richard McVey
MarketAxess Holdings Seth Merrin
Liquidnet Holdings Antoine
Shagoury
London Stock
Exchange Group 26
27
28
29
30
Christopher
Perretta
State Street Corp. Kevin Rhein
Wells Fargo & Co. Peter Carr
Morgan Stanley Hauke Stars
Deutsche Börse Robert Alexander
Capital One
Financial Corp. 31
32
33
34
35
David Gershon
SuperDerivatives Chris Corrado
MSCI Joseph Squeri
Citadel Tanuja Randery
BT Global Services John Bates
Software AG 36
37
38
39
40
Gary Scholten
Principal Financial Group David Gledhill
DBS Bank Simon Garland
Kx Systems Cristóbal Conde
FinTech Innovation Lab Jeff Parker
EidoSearch 41
42
43
44
45
Kim Fournais &
Lars Seier Christensen
Saxo Bank Kenneth Marlin
Marlin & Associates Tyler Kim
MaplesFS Jim McGuire
Charles Schwab Corp. Jim Minnick
eVestment 46
47
48
49
50
Steven O’Hanlon
Numerix Sebastián Ceria
Axioma Yasuki Okai
Nomura Research Institute Niki Beattie
Market Structure Partners Mas Nakachi
OpenGamma