DTCC Hires Derivatives Expert

Derivatives processing authority Bill Stenning joined the Depository Trust & Clearing Corp. (DTCC) as VP of business development. He will be based in London and report to Peter Axilrod, managing director, business development.

Stenning will support the product strategy and design of DTCC's Deriv/SERV post-trade processing platform for OTC derivatives. According to Stenning, he will evaluate users' requirements and help "them work as a community to determine what the system needs to do and how it needs to do it." The challenge, he adds, is "developing a platform that's not just the common denominator."

Stenning's experience in the OTC derivatives market includes his most recent position as managing director of trading and risk systems at SunGard. He also has served as COO at SwapsWire and has held positions at Chase Manhattan Bank (now JPMorgan Chase) and Cargill Financial Markets. --Cory Levine