DTCC's Bodson calls for more coordinated regulation

05/1/2013 | Securities Technology Monitor

Depository Trust & Clearing CEO Michael Bodson says better coordination is needed between international regulators. Speaking at the SIFMA 2013 Operations Conference, Bodson noted that DTCC has proposed and attempted to build a single-trade repository and a system that creates legal-entity identifiers to replace the current system that employs multiple repositories and multiple identification codes. The Financial Stability Board has been working to create an LEI system that would give nations control of registration and record-keeping, but, Bodson says, a limited amount of countries have the technology and legal system for this to work properly.

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