This content is from: Portfolio
The 2016 Tech 50: Michael Bodson
The head of Depository Trust & Clearing Corp. remains at No. 14 on the Tech 50 ranking.

Much commentary about blockchain has centered on the posttrade, or back end, of transaction processing and has seemed to spell the demise of clearing and settlement — or, at least, the way it has historically been done by Depository Trust & Clearing Corp. “Headlines about the DTCC disappearing overnight were annoying the hell out of me,” says Michael Bodson, president and CEO of the premier industry-owned posttrade utility, which processes some $1.6 quadrillion in securities trades annually. Apparently deciding that if he couldn’t beat blockchain, he’d join it, Bodson set out to find the best fit for his operation. In January, DTCC joined in a round of funding for Digital Asset Holdings (see Blythe Masters, No. 17) that eventually exceeded $60 million, along with the likes of Accenture, Citi, CME Group, Goldman Sachs Group and JPMorgan Chase & Co. “We thought Digital Asset was one of the strongest — if not the strongest — blockchain providers out there,” says Bodson, 58. In March, DTCC and DAH, both New York–based, announced a plan to develop and test distributed ledger technology for the $2.6 trillion repo market. DTCC also joined with four global banks, technology developer Axoni and Markit (see Lance Uggla, No. 3) in a test of smart contracts for processing single-name credit default swaps. “No one survives by putting their head in the sand,” says Bodson, who also maintains that “the U.S. cash security markets are the most efficient. We have the best posttrade processing in the world.” Although there will be initial rollouts and use cases bringing improvements in the near term, blockchain will not “negate or replace the current infrastructure for seven, ten or even 15 years.”
Visit The 2016 Tech 50: Making Financial Services Faster, Cheaper, Bigger for more.
![]() 2. Jeffrey Sprecher Intercontinental Exchange ![]() 3. Lance Uggla Markit ![]() 4. Phupinder Gill CME Group ![]() 5. Shawn Edwards and Vlad Kliatchko Bloomberg ![]() 6. R. Martin Chavez Goldman Sachs Group |
![]() 7. Robert Goldstein BlackRock ![]() 8. Adena Friedman Nasdaq ![]() 9. Deborah Hopkins Citi Ventures ![]() 10. Daniel Coleman KCG Holdings ![]() 11. Stephen Neff Fidelity Investments ![]() 12. David Craig Thomson Reuters |
![]() 13. Michael Spencer ICAP ![]() 14. Michael Bodson Depository Trust & Clearing Corp. ![]() 15. Charles Li Hong Kong Exchanges and Clearing ![]() 16. Chris Concannon BATS Global Markets ![]() 17. Blythe Masters Digital Asset Holdings ![]() 18. David Rutter R3CEV |
![]() 19. Neil Katz D.E. Shaw & Co. ![]() 20. Lee Olesky Tradeweb Markets ![]() 21. Richard McVey MarketAxess Holdings ![]() 22. Seth Merrin Liquidnet Holdings ![]() 23. Robert Alexander Capital One Financial Corp. ![]() 24. Brad Katsuyama IEX Group |
![]() 25. Antoine Shagoury State Street Corp. ![]() 26. David Gledhill DBS Bank ![]() 27. Lou Eccleston TMX Group ![]() 28. Andreas Preuss Deutsche BÖrse ![]() 29. Dan Schulman PayPal Holdings ![]() 30. Scott Dillon Wells Fargo & Co. |
![]() 31. Mike Chinn S&P Global Market Intelligence ![]() 32. Craig Donohue Options Clearing Corp. ![]() 33. Gary Norcross Fidelity National Information Services ![]() 34. Steven O'Hanlon Numerix ![]() 35. Sebastián Ceria Axioma ![]() 36. Michael Cooper BT Radianz |
![]() 37. Tyler Kim MaplesFS ![]() 38. Neal Pawar AQR Capital Management ![]() 39. David Harding Winton Capital Management ![]() 40. Chris Corrado London Stock Exchange Group ![]() 41. Brian Conlon First Derivatives ![]() 42. Jim Minnick eVestment |
![]() 43. Stephane Dubois Xignite ![]() 44. Mazy Dar OpenFin ![]() 45. Yasuki Okai NRI Holdings America ![]() 46. Kim Fournais Saxo Bank ![]() 47. Jock Percy Perseus ![]() 48. Robert Schifellite Broadridge Financial Solutions |
![]() 49. Brian Sentance Xenomorph Software ![]() 50. Pieter van der Does Adyen |