▁development ▁of ▁D TC ▁in ▁ 1 9 7 3 , ▁which ▁was ▁head ed ▁by ▁Bill ▁D ent zer , ▁the ▁former ▁New ▁York ▁State ▁Bank ing ▁Super int endent . ▁All ▁the ▁top ▁New ▁York ▁banks ▁were ▁represented ▁on ▁the ▁board , ▁usually ▁by ▁their ▁chairman . ▁ ▁B AS IC ▁and ▁the ▁SE C ▁saw ▁this ▁indirect ▁holding ▁system ▁as ▁a ▁" tem por ary ▁measure ", ▁on ▁the ▁way ▁to ▁a ▁" cert ific at eless ▁society ". ▁ ▁The ▁second ▁method ▁involves ▁mult il ater al ▁net ting ; ▁and ▁led ▁to ▁the ▁formation ▁of ▁the ▁National ▁Sec ur ities ▁Clear ing ▁Corporation ▁( NS CC ) ▁in ▁ 1 9 7 6 . ▁ ▁In ▁ 2 0 1 0 , ▁Robert ▁Dr us kin ▁was ▁named ▁Executive ▁Chair man ▁of ▁the ▁company , ▁and ▁in ▁July ▁ 2 0 1 2 ▁Michael ▁Bod son ▁was ▁named ▁President ▁and ▁Chief ▁Executive ▁Officer . ▁ ▁In ▁ 2 0 0 8 , ▁The ▁Clear ing ▁Corporation ▁( CC orp ) ▁and ▁The ▁De pository ▁Trust ▁& ▁Clear ing ▁Corporation ▁announced ▁C Cor p ▁members ▁will ▁benefit ▁from ▁C Cor p ' s ▁net ting ▁and ▁risk ▁management ▁processes , ▁and ▁will ▁le verage ▁the ▁asset ▁serv icing ▁capabilities ▁of ▁D T CC ' s ▁Trade ▁Information ▁W are house ▁for ▁credit ▁default ▁sw aps ▁( CD S ). ▁ ▁On ▁ 1 ▁July ▁ 2 0 1 0 , ▁it ▁was ▁announced ▁that ▁D T CC ▁had ▁acquired