Richard R. Macek Named Interim CEO for EuroCCP

Richard R. Macek Named Interim CEO for EuroCCP

June 05, 2007

-- Clearing and settlement platform for Turquoise taking
shape -


    LONDON, June 5 /Xinhua-PRNewswire/ -- A leading
Depository Trust & Clearing Corporation (DTCC) senior
executive, Richard R. Macek, has been chosen to serve as
the interim chief executive officer (CEO) for EuroCCP, the
new clearing and settlement platform that's being created
to support the Turquoise pan-European trading platform.

    Macek has been a member of DTCC's executive leadership
team since the formation of DTCC in 1999, most recently as
an executive managing director responsible for Risk
Management, Finance and the firm's family of Wealth
Management Services. He is also chairman of the board of
Omgeo, a joint venture owned by DTCC and Thomson
Financial.

    In taking on this critical leadership role for EuroCCP,
Macek will be relocating to London, and he'll be
relinquishing his current responsibilities for Finance,
Risk Management and Wealth Management Services. He will,
however, continue to serve as chairman of Omgeo.

    "Rick is one of DTCC's most experienced and
knowledgeable executives," said Donald F. Donahue,
DTCC chairman-elect and CEO. "He has more than 35
years of experience in financial services, focusing on
finance and risk management issues. Rick was heavily
involved in developing our proposal for Turquoise, and he
has strong international experience through his
chairmanship of Omgeo.

    "During this start-up phase and launch of EuroCCP,
Rick's appointment represents a significant commitment by
DTCC to ensure the success of this new clearing
corporation. We do plan, on a longer term basis, to recruit
a European executive to serve as the permanent CEO for this
subsidiary," Donahue said.

    Macek was chief financial officer and managing director
for DTCC from 1999 until April 2004. In 2003, he assumed the
additional responsibility for all DTCC Risk Management
activities, as well as being named CEO of DTCC's Fixed
Income Clearing Corporation (FICC) subsidiary, which clears
and settles U.S. Government securities and mortgage-backed
securities. In addition, he was also named CEO of the
Emerging Markets Clearing Corporation (EMCC), another DTCC
subsidiary, in August 2003. Macek gave up the CEO positions
at FICC and EMCC when he assumed the chairmanship of Omgeo
in 2005.

    Macek joined National Securities Clearing Corporation
(NSCC) in 1998, prior to the formation of DTCC, as managing
director, treasurer and chief financial officer. NSCC is now
a DTCC subsidiary. He also was responsible for overseeing
the financial operations of what was then known as the
Government Securities Clearing Corporation (GSCC) and
Mortgage-Backed Securities Clearing Corporation (MBSCC),
two organizations that later merged to form FICC.

    Prior to joining NSCC, Macek had a 15-year career with
Dillon, Read & Co., Inc., where he was managing
director for the firm's finance and accounting operations
in New York and London. Before that, he spent two years as
a director with Morgan Stanley and 10 years with Arthur
Young & Co. (now Ernst & Young) as an audit
principal.

    Macek, a certified public accountant, earned a
bachelor's degree in business administration from Manhattan
College. He served in the U.S. Army from 1969 to 1971 and
was awarded the Bronze Star in Vietnam for meritorious
service.

    EuroCCP was selected to provide clearing and settlement
services to Turquoise, a consortium of seven major
investment banks in Europe, after a major competition and
is expected to begin operation at the end of this year.
EuroCCP is a subsidiary of DTCC. The objective of Turquoise
is to lower the costs of trading in Europe.

    About DTCC

    The Depository Trust & Clearing Corporation (DTCC),
through its subsidiaries, provides clearance, settlement and
information services for equities, corporate and municipal
bonds, government and mortgage-backed securities, money
market instruments and over-the-counter derivatives. In
addition, DTCC is a leading processor of mutual funds and
insurance transactions, linking funds and carriers with
their distribution networks. DTCC's depository provides
custody and asset servicing for 2.8 million securities
issues from the United States and 100 other countries and
territories, valued at $36 trillion. Last year, DTCC
settled more than $1.5 quadrillion in securities
transactions. DTCC has operating facilities in multiple
locations in the United States and overseas. For more
information on DTCC, visit http://www.dtcc.com .

    Editor's note: A high-resolution photo of Richard Macek
is available for download from his biography page on DTCC's
web site at http://www.dtcc.com/macek.html .


    For more information, please contact:

     Stuart Z. Goldstein, DTCC
     Tel:   [phone]
     Email: [e-mail]
    
     Freida Moore, Citigate
     Tel:   [phone]
     Email: [e-mail]

     Web:   http://www.dtcc.com
            http://www.dtcc.com/macek.html