The London Stock Exchange has appointed City old hand Nic Stuchfield as the new managing director of EDX London.
Stuchfield will report directly to LSE chief executive Clara Furse and will be charged with developing EDX London's equity derivatives business.
A Barclays' veteran and former chief executive officer of Tradepoint Financial Networks, Stuchfield set up his own consultancy business in 1999 following the takeover of the pan-European screen-based exchange by a consortium of brokers and financial services firms. Stuchfield reportedly walked away from Tradepoint with a £1.9 million share options pay-off.
The eponymous Stuchfield Consultancy will continue to operate during its founder's stint at EDX.
Stuchfield replaces Marc Bailey, a Clara Furse appointee, who left EDX abruptly in June shortly after the arrival of new LSE chairman Chris Gibson-Smith.