SSImple, a distributed ledger platform for post-trade processing, has appointed Bill Meenaghan from IHS Markit as its new chief executive officer.

Based in London, Meenaghan joins from IHS Markit (now part of S&P Global) where he was director of product management since last June, responsible for implementation and strategy of securities services solutions at IHS Markit.

SSImple said in a statement on a Monday: “For over 20 years, Bill has been instrumental in the development and management of the industry’s main standing settlement instruction (SSI) management and enrichment platforms. With his strong background in securities and cash-based products, he will be responsible for accelerating SSImple’s market traction and product lead.”

Prior to IHS, Meenaghan was at the Depository Trust and Clearing Corporation (DTCC) for six years in roles including executive director of product management. Before that, he was at Omgeo for over six years.

He has also held senior fixed income and equity trade administration roles at State Street Global Advisors, the asset management arm of State Street.

SSIs are instructions that have been agreed in advance and used to enable the timely completion of trade settlement.

SSImple is an open permissioned distributed ledger technology database for the storage, sharing and enrichment of SSIs, the firm said.

Built on R3's Corda platform, SSImple aims to enable straight-through processing of any transaction type, increase efficiency and eliminate settlement fails under the central securities depository regulation.  

DTCC in August launched a distributed ledger technology settlement platform, to provide an improved service to clients leveraging the new technology.