The Depository Trust & Clearing Corporation has announced that Michael McClain has joined the firm as a Managing Director and General Manager of Equity Clearing. In this role, Mr. McClain will be responsible for leading day-to-day equity clearing business operations and strategic initiatives. He will report to Murray Pozmanter, Managing Director and Head of Clearing Agency Services.
Mr. McClain joins DTCC from the Options Clearing Corporation, where he served as Chief Operating Officer and was part of the Office of the Executive Chairman. Mr. McClain previously served as a member of the Advisory Board of Directors for the International Options Market Association (IOMA) and also held positions on the Securities Industry Financial Markets Association (SIFMA) Operations and Technology Steering Committee and the Futures Industry Association.