July 23 (Reuters) - The International Swaps and Derivatives Association (ISDA), a financial industry lobby group, named Commodity Futures Trading Commission commissioner Scott O‘Malia as chief executive.
O‘Malia had said earlier this week that he intended to leave the five-member CFTC, where he had served as a member for more than four years.
He takes up his new post on Aug. 18.
“Scott is the right person to lead the industry and ISDA through the many structural changes - including margin, capital, clearing, trade execution and reporting rules and regulations - that are reshaping the global derivatives markets,” ISDA Chairman Stephen O‘Connor said in a statement.
O‘Malia replaces Robert Pickel, who stepped down earlier this year as ISDA’s CEO after 17 years.
O‘Malia chaired the CFTC’s Technology Advisory Committee, which drives the agency’s efforts to better cope with vast amounts of data. The committee has also worked on issues related to high-frequency trading. (Reporting by Supriya Kurane; Editing by Ted Kerr)