The Depository Trust & Clearing Corporation (DTCC) has appointed Derek West, former senior director of derivatives oversight at the Quebec Autorité des marchés financiers (AMF), as executive director and chief compliance officer for the firm’s European Global Trade Repository (GTR) business.
West (pictured) will be responsible for ensuring GTR Europe remains in full compliance with European Market Infrastructure Regulation (EMIR) trade repository requirements, as well as other applicable laws and regulations.
In addition, he will coordinate EMIR supervisory activities and examinations, as well as work closely with GTR senior management and the European Securities and Markets Authority (ESMA).
At the AMF, West was responsible for drafting and implementing Quebec’s Derivatives Act and regulations, and eight national regulatory projects, including trade repository recognition and reporting rules and mandatory central counterparty clearing rules. He also built a team that was focused on trade repository data aggregation and analysis.
West has participated on regulatory committees and working groups, including participation on several IOSCO (International Organisation of Securities Commissions) working groups dedicated to the development of international regulatory standards.
Previously, he was director, strategic planning and development at the National Futures Association in Chicago.
Andrew Douglas, CEO of GTR Europe, says: “Derek brings a wealth of compliance knowledge and regulatory experience to DTCC. As the global regulatory environment continues to evolve, he will be a key asset to the firm, our community and the GTR Europe compliance programme.”
