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The DTCC Board

The DTCC Board of Directors is currently composed of 21 Directors. Of these, 12 are participant Directors who represent clearing agency members, including international broker/dealers, custodian and clearing banks, and investment institutions; five are non-participant Directors; two Directors are designated by DTCC's preferred shareholders, ICE and FINRA; and the remaining two Board members are DTCC's Non-Executive Chairman and its President and Chief Executive Officer. The Board plays a critical role in setting the strategic direction of DTCC, providing oversight and offering guidance on topics including risk management, regulatory matters, technology, innovation and the development of new products and services.

Individuals are nominated for election as directors based on their ability to represent DTCC's diverse base of participants, and DTCC's governance is specifically structured to help achieve this objective. The non-participant Board members are individuals with specialized knowledge of financial services, but who bring an independent perspective since they are not affiliated with firms that use DTCC services. Board members serve on a variety of Board committees with responsibility to oversee aspects of DTCC's operation. In addition, to ensure broad industry representation and expertise on key industry subjects, industry representatives who are non-Board members also serve on a number of advisory committees to the Board.