DTCC creates new chief data officer role
02 February 2011 | 9822 views | 0
New York's Depository Trust and Clearing Corporation has appointed Ronald Jordan, a 26-year Nyse Euronext veteran, to the new position of chief data officer, as it bids to become a central conduit between regulators and market participants on data management issues.
In a statement explaining the new position, the depository says it expects to play a key role in aggregating industry data for regulators so they can ensure transparency and help mitigate and manage systemic risk.
In his role as CDO, Jordan will be responsible for overseeing this activity in conjunction with the business line managers and 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.
Says 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 served most recently as 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.