Players/The Settlement Layer

Murray Pozmanter

Head of Clearing Agency Services, DTCC — The Gatekeeper

Murray Pozmanter controls which trades settle, which shares can be borrowed, and how much margin clearing members must post. His Stock Borrow Program lets DTCC members borrow from a centralized pool to cover failed deliveries — effectively masking how many shares actually exist.

Also in The Settlement Layer

Frank La SallaAll PlayersRobin Vince