Thomas Costa heads up US clearing bodies

Thomas Costa heads up US clearing bodies

DTCC subsidiaries Government Securities Clearing Corporation (GSCC) and MBS Clearing Corporation (MBSCC) have elected COO Thomas Costa as president of their shared executive structure.

Costa succeeds Ronald Stewart, who is stepping down from day-to-day involvement in the business, but who will continue as a consultant to the organisations.

Costa will retain his role as chief operating officer of GSCC and MBSCC, alongside his duties as president.

He joined the National Securities Clearing Corporation (NSCC) in 1984 as a vice president, and played a key part in the establishment of GSCC by NSCC in 1986. Before NSCC, Costa served for nine years with the National Association of Securities Dealers.

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