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MOVES-Euronext names new head of post-trade business
August 21, 2014 / 11:11 AM / 3 years ago

MOVES-Euronext names new head of post-trade business

LONDON, Aug 21 (Reuters) - European exchange operator Euronext said on Thursday it has appointed Andrew Simpson as head of its post-trade business.

Post-trade services include clearing - the transfer of ownership of securities after they have been traded - custody and settlement.

Simpson will be responsible for Euronext’s relationship with clearing house LCH.Clearnet and developing its clearing strategy for the cash and derivative markets.

He has previously worked for Rate Validation Services, which recently won a mandate to calculate benchmark interest rate Libor, and central counterparty EuroCCP. He will report to Lee Hodgkinson, head of markets and global sales.

Euronext, which operates exchanges in Paris, Amsterdam, Brussels, Lisbon and London, also named Hugo Rocha as member of the management board responsible for commercial and sales activities at subsidiary Interbolsa, the central securities depository for the Portuguese market. He will start on Sept. 1.

Euronext was spun off from parent Intercontinental Exchange in June. Earlier this month it reported a 5.2 percent rise in second-quarter revenue thanks to an uptick in listings and higher cash trading volumes. (Reporting by Clare Hutchison; editing by Tom Pfeiffer)

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