In addition Chris Spires will step down as Xtrakter's Chief Financial Officer (CFO) and from the organisation's leadership team in order to join the Euroclear group's finance division.

Weber will continue as CEO of Euroclear UK & Ireland (EUI) and EMXCo, sister companies to Xtrakter within the Euroclear group.

Xtrakter is also pleased to state that it will be recalibrating its leadership team to reflect the following organisational changes:

Graeme Austin, Director of Product Management & Marketing, will take on the new role of Chief Analytics Officer. Graeme will work closely to fulfil the organisation's vision and will continue to retain marketing responsibilities for the firm going forward. Jason Waight, Head of Product Management at EUI, will join the Xtrakter leadership team and incorporate responsibility for Xtrakter's product and service developments into his existing portfolio.

Tim May, Xtrakter's Chairman, noted: "We are very excited to begin this new phase in Xtrakter's development as part of the Euroclear group. Kevin and his leadership team have achieved success in transforming Xtrakter from a market services division within a trade association into a world-class fixed income service provider. We wish Kevin all the best and look forward to delivering more client benefits under the new leadership team."

David Lawler, Xtrakter's Chief Operating Officer (COO), and Richard Jinks, Director of Commercial Operations, will remain in their current roles and on the Xtrakter leadership team.

May added: "I am confident that Yannic and his team will lead Xtrakter to attain a new set of goals that will further strengthen its appreciation by market participants as an essential part of the fixed income marketplace."