Ex-CME clearing risk head Betsill to join Canadian clearing board

Betsill, who left the Chicago-based group in April after 15 years with the firm, is set to become a board member of the Canadian Derivatives Clearing Corporation (CDCC) and the Canadian Depository for Securities (CDS) next month.

A spokesman for TMX Group said: “We are pleased to welcome Lee Betsill to the CDS and CDCC Board of Directors, effective as of our upcoming Board meetings next month.”

Betsill became CME Clearing’s chief risk officer in August 2015 when he moved to Chicago from London where he had been the chief executive officer of CME Clearing Europe for two years.

Before running the London-based clearing house, Betsill was its chief operating officer for three-and-a-half years.

Prior to joining CME Group in 2010, Betsill was for nearly four years the head of EDX London, the equity derivatives trading platform owned by LSE Group.

Before the LSE, Betsill spent nine years as the head of operations at OM, the Nordic exchange group acquired by Nasdaq in 2008 to form Nasdaq OMX.

Betsill was also the chairman of CCP12, the clearing trade body, from April 2016 to June 2018.

CME Group announced in late April that Vijay Albuquerque had joined the US group as its new chief risk officer for CME’s clearing and post-trade arms, replacing Betsill.

Albuquerque joined from Citigroup where he was lastly head of counterparty risk and portfolio analytics after more than 20 years at the investment bank.

TMX Group, which operates the largest Canadian derivatives market, said last week it will launch in the first three months of next year the group’s first credit futures.

The Canadian derivatives market has had in the last three months three of its top five busiest months ever, including its best month in April when the Montreal-based market traded 22.7 million lots, according to FOW Data.