143
INDEX
Ponzi scheme, 84 Portannese, Anthony “Tony,” ix, 107, 115 post-trade processing, 118 Pozmanter, Murray, ix, 100–101, 101, 125, 129 Price Waterhouse, 22, 106 Project Turquoise, 66
McGrail, Robert as DTCC managing director of business management, 67 as founding chairman of Board of Omgeo, 67 McLean, Virginia, office, 128 Melillo, Robert, 29 meme stock event, 128–129 MF Global, 86, 101 microfilm, 37, 39, 42 Midwest Securities Trust Company, 42, 49, 54 Minicone, Steve, 54 mitigating risk, seizing opportunity: 1990–1999, 46–57 bomb rattles Wall Street, 50, 50–51 celebrating a milestone, 52, 52 change at the top, 51, 54–57 Jill M. Considine: DTC chairman and CEO 1999–2006, 56, 56 need for speed, 48–50 mitigating risk for the industry, 113 Morgan Stanley, 33, 106 Mortgage-Backed Securities Clearing Corporation, 71
R
Rand Corporation, 13 Rassnick, Leopold, 55
recovery and wind-down plans, 98, 99 recovery of certificates, 83, 93–95, 94 Susan Cosgrove on, 95, 95 recycling, 128 reducing risk and reducing costs James Femia on, 96 regulation, regionalization and reorganization: 1970–1979, 20–33 Bill Dentzer: founding CEO, 24, 24 immediate impact, 32–33 leading the way, 24–25 learning the BASICs, 22–24 new name, broader mission, 25 regional wins, 29–30 standing on its own, 31–32 technology and innovation at the forefront, 30, 30–31, 31 resilience, 113, 122 risk management Bill Jaenike on, 46 Bob Druskin on, 110 Michael Bodson on, 112–113 role of Tampa office, 102 risk management: 2016–2019, 110–121 accelerating settlement again, 119, 119–120 cybersecurity, 120–121 Girls Who Code, 118 mitigating risk for the industry, 113 providing certainty during crises, 112–115 rise of fintech, 115, 115, 116, 118–119
mortgage defaults, 83 Mullarkey, Brian, 54 municipal bonds, 36, 38 municipal notes, 37 Murphy, Patrick, 57 mutual funds, 43 Mutual Fund Services, 112
N-O-P
Nasdaq, 65–66 Nasdaq Europe, 65–66 National Association of Securities Dealers, 12, 16, 21–22 National Coordination Group, 21 national regional exchanges, 99 National Securities Clearing Corporation (NSCC), 23, 33, 36, 42, 49, 125 Nelson, Jack, 33 Networking and Mutual Fund Profile Service, 112 New England Depository Trust Company, 36, 42 New York City Fire Department (FDNY), 75 New York City Firefighter Memorial Wall Fund, 75 New York Clearing House Association, 21–22, 56 New York Stock Exchange (NYSE), 11, 11–13, 13, 16, 21–22 Board of Governors, 12–13 trading floor, 16, 52 Nuveen asset management, 32 Obama, Barack (president), 100 Office and Professional Employees International Local 133, 38 Omgeo, 61, 67, 99, 104, 104–105, 105 over-the-counter (OTC) derivatives, 23, 98, 101, 114 merged with DTC, 51, 55, 59, 64, 69 risk-management strategies, 98, 98–99
risk mindset, intensifying the, 85–86 risk profile, lowering, 85 risky subprime mortgages, 82 robotic process automation, 118
Rogers, Jim, 29 Ruiz, Maria, 29 Rundle, James, 61
S
Salomon Brothers, 33 same-day funds settlement (SDFS), 35, 37, 43, 50–51 Bill Jaenike on, 54 Saperstein, Karen, 55 science, technology, engineering and math (STEM) education, 118 Securities Acts Amendments, 23, 32 Securities Financing Transaction Clearing Service, 125 Securities Industry and Financial Markets Association (SIFMA), 120, 129 Securities Industry Automation Corporation, 38 securities trade, 18 security, 30, 30 security-based swap data reporting services, 125
Pacific Securities Depository Trust Company, 36, 42 paperwork crisis, 10, 12, 14, 18 late 1960s and early 1970s, of, vii, 38, 123 markets resumed normal trading hours, 19, 19 Participants Trust Company (PTC), 49–50, 55, 55 Paul, Tanya, 54 Pentagon 9/11 terrorist attacks, 72 Pershing LLC, 131 Peve, Jennifer, ix, 118, 123, 133, 133 Philadelphia Depository Trust Company, 42, 49, 54
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