ISITC

ISITC (International Securities Association for Institutional Trade Communication) is a global industry trade group focused on developing standards and best practices in financial services operations. Founded in 1991, ISITC plays a crucial role in fostering collaboration and driving automation within the securities industry.
== Mission and Purpose ==
The primary mission of ISITC is to create and promote market practice standards that enhance efficiency, reduce risk, and lower costs in the global financial services industry. By bringing together investment managers, broker/dealers, custodians, utilities, and technology vendors, ISITC aims to facilitate open communication and collaboration among its members.
== Organizational Structure ==
ISITC operates through various working groups and forums that address specific areas of the securities industry. These groups focus on developing standards, best practices, and market solutions for different aspects of financial operations.
=== Key Activities ===
#Standards Development: ISITC works on creating and maintaining industry standards that promote interoperability and streamline processes across the securities industry.
# Education and Training: The organization provides educational resources and training programs to help professionals stay updated on industry trends and best practices.
# Networking and Collaboration: ISITC organizes events and forums that allow industry professionals to network, share knowledge, and collaborate on common challenges.
# Advocacy: As a voice for the industry, ISITC engages with regulatory bodies and other stakeholders to represent the interests of its members and the broader financial services community.
 
=== Membership ===
ISITC's membership comprises a diverse group of financial institutions, including:
* Investment managers
* Broker/dealers
* Custodians
* Utilities
* Technology vendors
This diverse membership allows for a comprehensive approach to addressing industry-wide challenges and developing solutions that benefit the entire ecosystem.
===Board of Directors ===
 Board of Directors
Position 	Name and Company
Chair 	Rich Robinson, Bloomberg, LP
Vice Chair 	Paul Fullam, FIS
Second Vice Chair 	Michael Burg, State Street Corporation
Treasurer 	Charles Mottinger, State Street Global Advisors
Secretary 	Ana Lotharius, DTCC
Immediate Past Chair	Kristin Swenton Hochstein, LSEG
Board Member 	Paul Brooks, Fidelity Investments
Board Member 	Christopher Daur, Access Fintech
Board Member 	Dannette Fleming, Northern Trust Company
Board Member 	Steven Gale, Northern Trust Company
Board Member 	Lyndon James, Citi
Board Member 	Aundrea Jarvis, Brown Brothers Harriman
Board Member 	Dianne O'Boyle, Platonic
Board Member 	Aruna Parthiban, Goldman Sachs Asset Management
Board Member 	Paul Preisser, BNP Paribas
Board Member 	Louis Rosato, BlackRock, Inc.
Board Member 	Denny Umscheid, American Century Investments
Advisor to the Board	Gary Probert
== Impact on the Financial Services Industry ==
ISITC's work has contributed significantly to the automation and standardization of processes within the securities industry. By promoting the adoption of common standards and best practices, ISITC has helped reduce operational risks, lower costs, and improve efficiency across the global financial services sector.
=== Global Reach ===
While originally focused on North America, ISITC has expanded its reach to become a global organization, addressing the needs of the international financial services community.
== References ==
Category:Industry Organizations