Our History

ISITC, founded in 1991 by a group of industry leaders who believed in the benefit of straight-through processing (STP), created an advanced standard electronic message format for mortgage securities trading, reducing time and errors significantly. Within 10 months of their initial meeting the new format eliminated inefficient delivery methods: facsimile, Telex, and re-keying (a notable accomplishment at the time).

Before long, other companies followed suit, and the standard electronic message practice became standard industry-wide. The group’s innovation created a unique opportunity to apply the success in mortgages to all industry sectors. It would take a distinctive organization to make this happen—the group officially became ISITC.

Past ISITC Chairs

2022–2023Kristin HochsteinLSEG
2019–2021Lisa IagattaSecurrency
2017–2018Erica BorghiBrown Brothers Harriman
2014–2016Jeff ZollerT. Rowe Price Associates, Inc.
2012–2013Jan SnitzerLoomis, Sayles, & Company, L.P.
2010–2011Gary ProbertCitibank, N.A.
2008–2009Genevy DimitrionState Street Corporation
2006–2007Steve GoswellBarclays Global Investor
2005Stephen J. LachagaJP Morgan
2003–2004Kevin SmithBank of New York
2002Steve KellyGoldman Sachs & Company
2000–2001Arthur BartonClay Finlay
1999Mark Del ColBankers Trust
1998Mark Del Col
Arthur Barton
Bankers Trust
Clay Finlay
1997Larry RinneNorthern Trust Company
1996Larry Rinne
Roz Kracov
Northern Trust Company
State Street Corporation
1995Roz KracovState Street Corporation
1994Nancy BarletRCN
1993Lynn ZellerPIMCO

ISITC was Co-founded in 1991 by the following individuals:

From the Investment Management side

Nancy BarletRCN
Beatriz InigoFischer, Francis, Trees & Watts (FFTW)
Anna SiefertCapital Group
Lynn ZellerPIMCO

From the Custodian side

Steve ConwayNorthern Trust Company
Roz KracovState Street Corporation
Ed McGannUS Trust
Tom MusellaCitibank

SWIFT was an integral part in assisting in formatting the first ISITC messages.