18 October 2017
Register now

CME Group hires ex-LCH.Clearnet boss to lead European clearing

28 July 2009  |  6187 views  |  0 Parliament Big ben London

Chicago-based derivatives exchange operator CME Group has hired former LCH.Clearnet boss Andrew Lamb to head up its planned European clearing venture.

CME Clearing Europe, is still waiting for the go-ahead from the UK's Financial Services Authority to become a UK Recognised Clearing House (RCH). If recognised, the London-based venture will serve as a central counterparty clearer for over-the-counter derivatives.

Lamb will initially act as a special advisor to the group during the RCH approval process and, subject to recognition, become CEO, responsible for the development of strategic initiatives, risk management policies and day-to-day operations of the venture.

Lamb was head of risk and deputy CEO at London Clearing House from 1993 to 2003 and then CEO and director of LCH Clearnet between 2004 and 2006. He also served for 15 years at the Bank of England, including four years as senior advisor, derivatives and commodity markets.

Craig Donohue, CEO, CME Group, says: "As part of our global growth strategy, CME Clearing Europe will help to extend the safety and security of central counterparty clearing to our European clients, both through the initial offering of CDS clearing and additional locally relevant products we plan to offer in the future."

Kim Taylor, MD and president, CME Clearing, adds: "Building on more than a century of CME Clearing's default-free risk management experience in the United States, we look forward to working with our European customer base to develop the European clearing and settlement services they need to manage risk not only in this challenging economic environment, but for the long term as well."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Eurex sets launch date for CDS counterparty

Eurex sets launch date for CDS counterparty

24 July 2009  |  5146 views  |  0 comments
ICE Trust sets out plans for buy-side participation in CDS clearing

ICE Trust sets out plans for buy-side participation in CDS clearing

23 July 2009  |  5568 views  |  0 comments
ELX Futures offers free trades during July

ELX Futures offers free trades during July

09 July 2009  |  3792 views  |  0 comments
European exchanges and clearers lay down interoperability guidelines

European exchanges and clearers lay down interoperability guidelines

02 July 2009  |  7062 views  |  0 comments
LCH.Clearnet agrees competitive clearing deals

LCH.Clearnet agrees competitive clearing deals

07 May 2009  |  13640 views  |  0 comments
CDS clearing plans badly flawed say researchers

CDS clearing plans badly flawed say researchers

22 April 2009  |  11582 views  |  0 comments
CME delays CDS clearing launch as search continues for investors

CME delays CDS clearing launch as search continues for investors

20 March 2009  |  7116 views  |  0 comments
CDS dealers bow to pressure and commit to EU clearing counterparty

CDS dealers bow to pressure and commit to EU clearing counterparty

19 February 2009  |  7922 views  |  0 comments
US regulators sign CDS counterparty clearing MoU

US regulators sign CDS counterparty clearing MoU

14 November 2008  |  7571 views  |  0 comments
ICE to acquire The Clearing Corporation as CDS clearing deadline nears

ICE to acquire The Clearing Corporation as CDS clearing deadline nears

30 October 2008  |  10233 views  |  0 comments
DoJ calls for split of futures exchanges and clearing houses

DoJ calls for split of futures exchanges and clearing houses

06 February 2008  |  7651 views  |  0 comments
ICE to establish London clearing house

ICE to establish London clearing house

25 July 2007  |  10553 views  |  0 comments
Durkin to take top tech spot in merged CME Group

Durkin to take top tech spot in merged CME Group

25 January 2007  |  7418 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.capgemini.comvisit www.innotribe.comvisit www.vasco.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15141 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8353 views comments | 15 tweets | 21 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
7855 views 0 | 7 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7275 views comments | 13 tweets | 8 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6434 views comments | 8 tweets | 16 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job