Some info from the DTCC website:
DTCC is owned by its principal users ...
DTCC's 2008 Board of Directors will be made up of 21 directors, serving one-year terms. Seventeen directors are representatives of clearing agency participants, including international broker/dealers, correspondent and clearing banks, mutual fund companies and investment banks. Two directors are designated by the preferred shareholders, NYSE Euronext and FINRA, and the remaining two are the chairman and chief executive officer and the president of DTCC.
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I dunno, is this another example of having the Wall Street foxes in charge of henhouse security?