Former LCH.Clearnet chief executive Patrick Birley has joined the London Stock Exchange and is believed to be working on the exchange’s new clearing house venture.
It was reported
in September that the LSE was in talks with a group of US and
European banks to build a deposit fund for a new clearing
The exchange group had announced in July
that it was conducting a strategic review of all clearing
operations. Xavier Rolet, the chief executive, left the board
of the exchange’s long time clearer LCH.Clearnet
The LSE confirmed that Birley had joined
the company but declined to comment on his position or the date
on which he joined. It neither confirmed nor denied reports
that he was working in clearing.
Birley left his post as chief executive of
the European Climate Exchange recently because it was acquired
by the Intercontinental Exchange.