--- title: "Connecting the Dots: How DTCC Manages Contagion Risks (by Andrew Gray, DTCC )" description: "Connecting the Dots: How DTCC Manages Contagion Risks (by Andrew Gray, DTCC )" --- ![websites-group](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/new-MMG-01.svg) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-new-marketsmedia-logo.svg)](https://www.marketsmedia.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-traders-redlogo.svg)](https://www.tradersmagazine.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-bestexe-logo.svg)](https://www.bestexecution.net/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-fidesk-logo.svg)](https://www.fixglobal.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-fixglobal-new-logo.svg)](https://www.fixglobal.com/) - [*Facebook*](https://www.facebook.com/MarketsMedia/) - [*Twitter*](https://twitter.com/marketsmedia) - [*Linkedin*](https://www.linkedin.com/company/markets-media-llc) - [Newsletter](https://articles.marketsmedia.com/connecting-dots-dtcc-manages-contagion-risks-by-andrew-gray-dtcc#popup-newsletter) #### Want the latest news on securities markets -- FREE? Sign up to receive exclusive articles on topics including: - Equity market structure - Profiles of buy-side investment firms - The evolution of multi-asset-class trading - Regulation and its implications for markets - The search for liquidity in fixed income markets - The convergence of fintech and capital markets Select one or more newsletters you would like to receive: menu [![Markerts media](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/header%20logo.svg "Markerts media")](https://articles.marketsmedia.com/) - [Contributors Corner](https://articles.marketsmedia.com/tag/contributors-corner) - Contributors Corner - Connecting the Dots: How DTCC Manages Contagion Risks (by Andrew Gray, DTCC ) Search - [Home](https://articles.marketsmedia.com/) - [Trending](https://articles.marketsmedia.com/tag/trending) - [Featured](https://articles.marketsmedia.com/tag/daily-email-feature) - [Sectors](https://articles.marketsmedia.com/tag/sectors) - [From The Markets](https://articles.marketsmedia.com/tag/from-the-markets) - [AWARDS](https://articles.marketsmedia.com/tag/events) - [Newsletter](https://awards.marketsmedia.com/newsletter-sign-up) - [Newsletter](https://articles.marketsmedia.com/connecting-dots-dtcc-manages-contagion-risks-by-andrew-gray-dtcc#popup-newsletter) Hide search Search - NewsLetter ![](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/trading-up-occ-iex-select-board-members-citadel-lands-lieblich-573x379-Jul-07-2022-09-34-11-57-AM.jpg) [ON THE MOVE: Citi Hires Artie Ambrose;...](https://articles.marketsmedia.com/on-the-move-citi-hires-artie-ambrose-natalie-a-brown-to-mesirow) ![](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/Depositphotos_445735906_L.jpg) [Trading Adapts to ESG and Sustainable...](https://articles.marketsmedia.com/trading-adapts-to-esg-and-sustainable-investing) ![](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/iStock-917493152-Jul-07-2022-09-34-19-09-AM.jpg) [Focus on FX Execution Connectivity](https://articles.marketsmedia.com/focus-on-fx-execution-connectivity) ![](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/Depositphotos_333839538_L.jpg) [TRACE Turns 20](https://articles.marketsmedia.com/trace-turns-20) 07.25.2016 By John D'Antona Contributors Corner # Connecting the Dots: How DTCC Manages Contagion Risks (by Andrew Gray, DTCC ) 07.25.2016 By John D'Antona [Share](https://www.facebook.com/share.php?u=https://articles.marketsmedia.com/connecting-dots-dtcc-manages-contagion-risks-by-andrew-gray-dtcc) [Tweet](https://twitter.com/intent/tweet?text=US+ETFs+Have+Record+Net+Inflows&url=https://articles.marketsmedia.com/connecting-dots-dtcc-manages-contagion-risks-by-andrew-gray-dtcc) [Share](https://www.linkedin.com/cws/share?url=https://articles.marketsmedia.com/connecting-dots-dtcc-manages-contagion-risks-by-andrew-gray-dtcc) Andrew Gray, DTCC Managing Director and Group Chief Risk Officer, offers recommendations for managing the risk of interconnectedness in his article which first appeared in the June 2016 issue of *Risk.net*. As the Lehman Brothers bankruptcy in 2008 demonstrated, the failure of one highly interconnected entity can spread rapidly across the global financial system and have a devastating impact on financial stability. The level of financial interconnectedness cannot be overstated. Banks and other financial institutions are linked through intermediation chains that span the globe, creating an elaborate web of mutual interdependencies. “Addressing interconnectedness risks is a work in progress that will continue to evolve as our understanding of the underlying dynamics matures,” Gray said. “As such, it represents the logical next step in the evolution of an organization’s risk management capabilities.” To read the full article, [click here](http://goo.gl/tywx6P). [Share](https://www.facebook.com/share.php?u=https://articles.marketsmedia.com/connecting-dots-dtcc-manages-contagion-risks-by-andrew-gray-dtcc) [Tweet](https://twitter.com/intent/tweet?text=US+ETFs+Have+Record+Net+Inflows&url=https://articles.marketsmedia.com/connecting-dots-dtcc-manages-contagion-risks-by-andrew-gray-dtcc) [Share](https://www.linkedin.com/cws/share?url=https://articles.marketsmedia.com/connecting-dots-dtcc-manages-contagion-risks-by-andrew-gray-dtcc) ![email](https://articles.marketsmedia.com/hubfs/Markets%20Media/email.svg) ### NEWSLETTER SIGN UP And receive exclusive articles on securities markets ### Related articles 1. [![](https://articles.marketsmedia.com/hs-fs/hubfs/Imported_Blog_Media/trading-across-the-pond-Jul-07-2022-09-33-17-07-AM.png?width=376&height=250&name=trading-across-the-pond-Jul-07-2022-09-33-17-07-AM.png)](https://articles.marketsmedia.com/esma-recognizes-occ-as-tier-1-third-country-ccp) Regulation ## [ESMA Recognizes OCC as Tier 1 Third-Country CCP](https://articles.marketsmedia.com/esma-recognizes-occ-as-tier-1-third-country-ccp) Status grants clearing members clarity on the regulatory treatment of their exposures to OCC. 06.30.2022 By Terry Flanagan 2. [![](https://articles.marketsmedia.com/hs-fs/hubfs/Imported_Blog_Media/iStock-660953568-Jul-07-2022-09-34-40-88-AM.jpg?width=376&height=250&name=iStock-660953568-Jul-07-2022-09-34-40-88-AM.jpg)](https://articles.marketsmedia.com/gam-investments-taps-bloomberg-for-buy-side-workflow-solutions) Technology ## [GAM Investments Taps Bloomberg for Workflow Solutions](https://articles.marketsmedia.com/gam-investments-taps-bloomberg-for-buy-side-workflow-solutions) The suite enables GAM to seamlessly manage market risk exposure and liquidity and investment risk. 06.29.2022 By Terry Flanagan 3. [![](https://articles.marketsmedia.com/hs-fs/hubfs/Imported_Blog_Media/clearing-Jul-07-2022-09-32-50-23-AM.jpg?width=376&height=250&name=clearing-Jul-07-2022-09-32-50-23-AM.jpg)](https://articles.marketsmedia.com/euronext-clearing-and-lch-repoclear-launch-new-risk-models) Risk Management ## [Euronext Clearing and LCH RepoClear Launch New Risk Models](https://articles.marketsmedia.com/euronext-clearing-and-lch-repoclear-launch-new-risk-models) The clearinghouses will be using a VaR methodology. 06.22.2022 By Shanny Basar [![MarketsMedia](https://articles.marketsmedia.com/hubfs/MarketsMedia.svg "MarketsMedia")](http://marketsmedia.com) - [About us](https://www.marketsmedia.com/about-us) - [Careers](https://www.marketsmediagroup.com/careers) - [Contact](https://www.marketsmediagroup.com/contact) - [Advertise](https://www.marketsmediagroup.com/advertise) - [Newsletter](https://awards.marketsmedia.com/newsletter-sign-up) - [Corporate Site](https://marketsmediagroup.com) - © 2026 Markets Media Holdings LLC - - Terms & Conditions - Privacy Policy {{ standard\_footer\_includes }}