The Depository Trust & Clearing Corporation (DTCC) has named Ronald Jordan, a 26-year industry veteran, to the new position of chief data officer, effective immediately.
As chief data officer, Jordan will be responsible for guiding DTCC’s strategy on matters related to DTCC’s commercial and regulatory data business activities. In the current re-regulatory environment, financial firms will be required to provide new levels of data to regulators so they can ensure transparency and help mitigate and manage systemic risk. Given DTCC’s unique position in the cash equity and fixed income markets, as well as the over-the-counter derivatives data DTCC keeps in its Trade Information Warehouse, DTCC expects to have a role to play in aggregating data for regulators to support their oversight of the industry and achieve this goal in a cost-effective manner for DTCC’s customers. Jordan will be responsible for overseeing this activity in conjunction with the business line managers to ensure coordination across the enterprise.
Jordan will also focus on the needs of the US Treasury Department’s new Office of Financial Research, created under the Dodd Frank Act. Jordan will report to Andrew Gray, managing director, Core Product Strategy and Management.
“We are delighted to have a person with Ron’s broad experience in developing data businesses join DTCC,” said Gray. “One of the key things that DTCC is looking to do in the near future is take the huge amount of data that DTCC collects as part of its business and help make it useful to our customers to interpret and understand trends in the marketplace, as well as help reduce potential customer costs required by new regulations by serving as a centralised provider and conduit of data from the industry to regulators.”
Jordan is joining DTCC after spending the past 26 years at NYSE Euronext, where he held a number of key roles. Most recently, he was executive vice president, Global Market Data Administration, managing a division of more than 50 people in five countries. His responsibilities included global market data administration for the NYSE, Arca, Amex, Euronext, NYSE Liffe and NYSE Liffe US markets. Prior to his service with NYSE Euronext, he held positions with the American Stock Exchange and the Philadelphia Stock Exchange.
Throughout his career, Jordan has been an active participant in various industry forums and associations where he has held leadership roles, including on the Executive Board of the Financial Information Services Division of the Securities & Industry Information Association (SIIA), the Executive Board of the Financial Information Forum and administrator of the Consolidated Tape Association.