The Depository Trust and Clearing Corporation (DTCC) has appointed Derek West as chief compliance officer for its European Global Trade Repository (GTR) business.
In his new role, West will take responsibility for ensuring the GTR business complies with the European Market Infrastructure Regulation (EMIR) trade repository requirements as well as other applicable laws and regulations.
As part of the position West will also coordinate EMIR supervisory activities and work closely with the European Securities and Markets Authority (ESMA).
West joins DTCC from his previous position as senior director of derivatives oversight at the Quebec Autorité des Marchés Financiers (AMF).
During this role he was responsible for drafting and implementing Quebec’s Derivatives Act and eight national regulatory projects, including trade repository recognition, reporting rules and mandatory central counterparty clearing rules.
Prior to this he was director of strategic planning and development at the National Futures Association in Chicago.
He has also participated on regulatory committees and working groups, including participation on several International Organization of Securities Commissions (IOSCO) working groups dedicated to the development of international regulatory standards.
“Derek brings a wealth of compliance knowledge and regulatory experience to DTCC,” said Andrew Douglas, CEO of GTR Europe.
“As the global regulatory environment continues to evolve, he will be a key asset to the firm, our community and the GTR Europe compliance program.”