Ann Flodström, head of derivative clearing operations at OMX Exchanges,has been appointed Chairman of EACH, the European Association of Central Counterparty Clearing Houses.
Ann Flodström, who has been active within EACH since 1998, will assume her new position on January 1, 2005. The mandate is for two years.
"I'm looking forward to the exciting assignment of being Chairman of EACH. European securities markets are currently undergoing extensive change, in part because of the new regulations being adopted within the EU. A key question being discussed within the EU at present is how it will be possible to make cross-border clearing and settlement activities more efficient and more competitive. In this context, EACH is playing an important role through the collective factual expertise that the organization represents," says Ann Flodström, commenting on the appointment.
EACH is a European organization for the collaboration of central counterparties within Europe, or more specifically clearing organizations that function as counterparties to purchasers and sellers in the trading of such securities as equities and derivative instruments. EACH is organized jointly with FESE (Federation of European Securities Exchanges), which represents the interests of European stock exchanges and where Jukka Ruuska, Executive Vice President of OMX and President of the OMX Exchanges division, is Vice President.