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August
Patrick Birley, CEO of the European Climate Exchange, said in mid-July that he would remain at the exchange for three months at most, following its acquisition by Intercontinental Exchange Group.
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BNY Mellon has appointed Patrick Tadie to the new role of global business head for its Derivatives360 initiative, an integrated investment servicing solution that helps clients execute and manage derivatives transactions.
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The London Stock Exchange’s chief technology officer, Robin Paine, is to leave the exchange.
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Nomura has appointed Shaun Lim as head of oil and oil products trading for Asia, excluding Japan. He joins from Barclays Capital’s Singapore office, where he was a senior fuel oil trader.
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The Committee of European Securities Regulators has promoted its vice-chair, Carlos Tavares, to chairman, and appointed Jean Guill as his replacement.
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Rod Banus has joined the Singapore Exchange as senior adviser for commodities.
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Nicolas Breteau has been appointed chief executive officer of Newedge, succeeding Patrice Blanc, who has decided to leave the firm for personal reasons.
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Datuk Syed Muhamad Syed Abdul Kadir has become non-executive and public interest director of Bursa Malaysia.
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Law firm Dechert has hired Holland West as partner in its financial services practice group in New York. West joins from Shearman & Sterling, where he was the head of global hedge fund, private equity, derivatives, and structured finance practices.
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Futures broker RJ O’Brien has promoted Kirk Bonniwell to vice-president of strategic planning.
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Standard Chartered Bank has appointed Simon Brookhouse as global head of equities and Michael Haigh as head of global commodities research.
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Catherine Bartzos, a managing director at JP Morgan, has become chairman of the supervisory board of ELX Futures, the new US interest rate futures exchange owned by banks and trading firms.
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Luis Laginha de Sousa will become chairman and chief executive of NYSE Euronext Lisbon from July 1, subject to regulatory approval.
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Jeff Heslop has become the US Securities and Exchange Commission’s first chief operating officer for information technology, financial reporting and records management.
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Joseph Sellitto and Christianna Wood have been elected to the International Securities Exchange’s board of directors.
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Ira Krulik will become chief operating officer at New York Portfolio Clearing on July 12.
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Craig Mohan has become managing director of colocation and data centre services at CME Group, a new position. He will report to Julie Holzrichter, managing director of global operations. He was director of global infrastructure at Citadel Investment Group.
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New Zealand Exchange has promoted Fiona Mackenzie, its head of traded products, to head of markets. Before NZX, she worked in sales at Morgan Stanley.
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SuperDerivatives, the derivatives valuation and multi-asset front office system, has appointed Jacob Matzliah as vice-president for Asia Pacific.
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Armajaro, the London-based commodities trading house, has appointed Terry Manning as its chief executive.
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BNP Paribas corporate and investment banking has made several appointments in equity derivatives flow sales, targeting German, Swiss and Austrian clients.
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Eurex has appointed Stuart Heath as head of its London office. He replaced Hartmut Klein on June 1. Eurex said Klein was moving into consultancy work.
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Macquarie Securities, the equities division of the Australian banking group, has hired Richard Sansaricq as head of delta one and synthetic prime brokerage sales.
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Encik Omar Merican resigned as chief operating officer of Bursa Malaysia with effect from June 1.
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BM&F Bovespa’s chief business officer, Paulo de Sousa Oliveira, has left the exchange to focus on his work as general director of Brasil Investimentos and Negócios (Brain).
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Paul Ribbins has become head of risk management at Tullett Prebon, the London-based interdealer broker.
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Patrick Thornton-Smith has left software vendor FFastFill, where he had been managing director of post-trade processing.
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We are sorry to report that UBS’s co-head of Asian equity derivatives trading, Neil McCormick, died in an accident in London in early June. We offer our condolences to his family, friends and colleagues.
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July
Roger Liddell, CEO of LCH.Clearnet, has said there is little prospect of interoperability between European derivatives clearing houses. The term means giving customers the choice of where their trades are cleared.
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Milan’s Italian Derivatives Exchange Market boasts a diverse customer base of local retail and institutional investors, prop shops and banks. Tom Osborn visits the exchange fast becoming the jewel in the LSE’s crown.
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Two exchanges have long dominated European financial derivatives – Eurex and Liffe. Nic Bertrand, the LSE’s head of equities and derivatives, told Siân Williams why he thinks the LSE can shake up the hierarchy.
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Brian Daly, managing director at Morgan Stanley, will take part in a cross-Channel swim to raise money for Futures For Kids, a fundraising charity set up by members of the futures industry.
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June
Justin Bgoni has been appointed chief financial officer of NZX, owner of the New Zealand Exchange. He was previously CFO of Rasai Holdings, a South African investment company.
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Jamie Farmer has become executive director of Dow Jones Indexes, a new position. He had been senior director, global index operations and head of exchange relationships.
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The two main US financial markets regulators — the Commodity Futures Trading Commission and the Securities and Exchange Commission — have created a joint advisory committee on emerging regulatory issues.
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Royal Bank of Canada Capital Markets is continuing its expansion with the hire of Diego Megia as managing director for rates trading, Europe.
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Gerald Hodgkins has been promoted to associate director of the US Securities and Exchange Commission’s division of enforcement.
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Sir Brian Bender has become chairman of the London Metal Exchange and LME Holdings, replacing Donald Brydon, who has stepped down to focus on his work with Royal Mail and the Smiths Group.
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Faststream, a recruitment firm specialising in shipping, marine and offshore industries, has formed a new team to find freight traders for banks, commodity trading houses and energy trading houses, especially in London and Geneva. It will be led by commercial shipping consultant Alistair Tudor.
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The Hong Kong government has appointed Ronald Joseph Arculli chairman of Hong Kong Exchanges and Clearing for a further two years, until the exchange’s annual general meeting in April 2012.
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Macquarie Securities, the Australian investment bank’s equity division, has appointed Todd Steinberg as global head of derivatives delta one.
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John Connolly has joined the electronic trading software provider List as pre-sales manager in Europe. He has worked in the financial technology sector and at SunGard, UBS and Fidelity Investments.
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Charles Shaw has joined Derivix as managing director and head of sales. He was previously director of sales at ITG Derivatives. He has also been a partner and managing director at RedSky Financial, a direct market access provider acquired by ITG.
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Fidessa, the trading software vendor, has promoted Dan Smalley to head of enterprise business development in the US, Canada and Latin America.
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May
Women In Listed Derivatives (Wild), a new group for women in the exchange-traded derivatives industry, yesterday held its fourth event, which took place in Chicago.
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Pacific Investment Management Company (Pimco), the US bond fund manager, has hired Mikael Angberg, former head of Nordic equity derivatives sales at BNP Paribas, as head of business development in the Nordic region.
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Prudential Bache Commodities, Prudential Financial’s futures commission merchant arm, has promoted Ryan Byrne, the head of its equity derivatives desk, to take over responsibility for its precious metals desk. The previous head, Ray Keenan, stepped down in April.
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US interdealer broker GFI has hired Robert Roberto as North American head of equities. Roberto joins from Knight Trading, where was managing director and head of institutional sales trading.
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Yann L’Huillier has been appointed chief information officer of Compagnie Financière Tradition, the parent company of Tradition, the Swiss interdealer broker.
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NYSE Liffe US has appointed three new independent directors to its board. They are Andrea Corcoran, adjunct professor of futures regulation at Georgetown Law Center; Ronald Filler, professor of law at the New York Law School; and Todd Petzel, chief investment officer of Offit Capital Advisors.
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Deutsche Börse Group’s remuneration report for 2009 shows a fall in performance-related remuneration for the exchange’s senior management. The exchange has already announced restructuring plans that will involve substantial job cuts (see FOW, April 2010).
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April
Jacques Aigrain will be the next non-executive chairman of LCH.Clearnet, the clearing house, starting on April 6.
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OptionsCity has appointed Patrick Kenny to its board of advisers, the US technology vendor said on February 22. In October Kenny left rival software company Patsystems, where he had been managing director of the Americas for nine years.
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Peter Wind, vice-chairman of Penson GHCO, the Chicago-based futures broker, left the company on February 26.
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Intercontinental Exchange’s CDS clearing subsidiary, ICE Trust US, has appointed Christopher Edmonds as president, replacing Dirk Pruis. He will be responsible for managing the operational and regulatory aspects of ICE Trust.
Edmonds was previously chief executive of International Derivatives Clearing Group. He has also been chief development officer for Icap Energy and chief executive of Icap Futures.
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Michael Overlander, Sucden Financial’s chief executive, and Jim Coupland, head of base metals at Standard Bank, have been re-elected to the boards of LME Holdings and the London Metal Exchange.
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RJ O’Brien, the US futures broker, has appointed base metals specialist Janet Mirasola as managing director of its metals team. She will be based in New York, leading the firm’s new strategic partnership with Sucden Financial, the London-based derivatives broker.
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Thomas Siegl will become chief risk officer at European Commodity Clearing on May 1. He will leave BHF-Bank in Frankfurt, where he is responsible for the central risk management division. ECC clears trades on the European Energy Exchange.
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BM&F’s 2008 merger with São Paulo’s Bovespa created the world’s third largest stock exchange, catapulting the group to a position of global influence. Tom Osborn meets the man driving the bourse's international expansion.
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March
In a move that startled the listed derivatives markets the world's largest futures broker, MF Global, announced that Jon Corzine would replace Bernie Dan as its CEO.
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The exceptional surge in Brazilian interest rate futures trading last week was caused by uncertainty over the future of the Brazilian central bank’s rate setting team, a source has told FOW.
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Rod Banus, head of futures Asia Pacific at Barclays Capital, has left the bank. Officials in Singapore have not yet been told plans for his replacement.
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Salvatore ‘Chicco’ di Stasi has been appointed global head of corporate equity derivatives at UBS in London. He reports to Matthew Koder, head of global capital markets, and to Jason Barron, global head of equity derivatives.
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The London Metal Exchange (LME) is looking for a new chairman after Donald Brydon handed in his notice in early February.
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The London Metal Exchange will open LME Asia, its first overseas office, in Singapore in April. The office will be headed by its commercial director Liz Milan.
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Kevin Milne has been appointed director of post-trade services at the London Stock Exchange Group.
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Cathryn Lyall has become director of BM&F Bovespa UK. Lyall will oversee the expansion of the London office, which will be its European hub. Before, she worked as an adviser for the exchange.
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Morgan Stanley has hired Alvise Munari as head of equity derivatives sales and financial engineering. He was previously head of multi-asset structured product and flow equity derivatives sales for Bank of America Merrill Lynch within the EMEA region.
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The Integrated Nano-Science and Commodity Exchange (INSCX), has appointed former senior Nasdaq developer Frank Racaneillo as honorary chairman and co-ordinator of US operations.
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The Kansas City Board of Trade (KCBT) has announced that Richard Mandl had been elected chairman of the board for 2010. He replaces James Neville.
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Francis Lim, chief executive officer and president of the Philippine Stock Exchange (PSE) stepped down on February 15 — two months earlier than scheduled.
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Antoine Shagoury has been appointed chief information officer at the London Stock Exchange — a new position, reporting to Xavier Rolet, the chief executive.
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Two senior US Securities and Exchange Commission staff — Daniel Gallagher and Frederic Firestone — have left to join private law firms.
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David Hobbs has been appointed as chairman of the FTSE Policy Group. The group advises FTSE Group on strategic index and investment-related issues, and reviews the management of all FTSE indices.
Hobbs has been a director of the FTSE Group since July 2006. Before, he worked at UBS.
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London-based interdealer broker Icap has expanded its base metals business by hiring Paul Phillips. He joins from French bank Natixis. Before that he worked for LME broker Amalgamated Metals Trading.
Icap became a Category Two member of the London Metal Exchange in January 2009, offering broking in futures, forwards and options on all LME metals.
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February
The Bahrain Financial Exchange has appointed Salah Al Abdulla as its chief corporate officer ahead of its launch.
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Nicholas Bertrand started on January 1 as head of EDX London, the derivatives arm of the London Stock Exchange. His promotion followed the decision by Lee Betsill to leave the exchange.
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Two senior figures at Creditex, the interdealer broker and trading platform for credit default swaps that Intercontinental Exchange bought in September 2008, are to leave.
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GFI Group, the interdealer broker, has set up a team in New York working on carbon and emissions trading. Known as the GFI Environmental Products Group, it will originate, commercialise and trade secondary market credits.
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Kim Bongsoo took over as chairman and chief executive of the Korea Exchange on December 30, for a fixed three year term.
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Claude Cyr, first vice-president and head of global services and relationships management at Newedge Canada, started on December 21 as senior vice-president of financial markets at the Montreal Exchange.
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Newedge, the derivatives and securities brokerage, has appointed Laurent Cunin as head of its Asia Pacific operations, based in Hong Kong.
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Gauging how many derivatives staff lost their jobs in the financial crisis and what effect that had on pay is not easy. Some segments of the market have remained bullish, however, as Hugo Cox discovers.
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Deutsche Börse Group, operator of Eurex and International Securities Exchange, is bringing in US management consultancy McKinsey for large scale restructuring, a person familiar with the matter has told Futures and Options World.