Securities finance market SecFinex recruits senior staff

SecFinex, a budding online marketplace for securities finance, has announced three new senior appointments, bolstering the London-based team.

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Securities finance market SecFinex recruits senior staff

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Joining as business analyst manager, Nick Stott will be responsible for defining requirements for the system and system testing, reporting to chief operating officer, David Rimmer. Prior to SecFinex Nick worked at Grips, taking part in the introduction of a central counterparty to London equity trading and improving straight-through processing for the equity financing aspect of the "Contracts for Difference" business at GNI.

Former London Clearing House executive Larry Shearer has been appointed head of sales & marketing. During his time at LCH Shearer developed and implemented a marketing programme for RepoClear, growing participant firms from eight in London to 25 firms across Europe. Prior to LCH, Shearer held the role of global head of securities lending & EM Repo with ING Barings in New York and head of securities lending trading with the Mellon Bank Corporation in Pittsburgh.

Mark Sear takes up the new role of chief technical architect. He previously was technology director at LevelSeas, an e-commerce start-up backed by BP, Shell, Cargills, Clarksons and eVolution Partners.

SecFinex was established by financial trading system supplier Mutant Technology and is designed to provide an independent platform where participants can, on an anonymous basis, post their trading interests and hold auctions. They can also search portfolios and deal with specific counterparties on a private basis. The platform supports a range of securities financing products from conventional securities lending to structured deals.

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