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EuroCCP names Andrew Simpson head, product management in London

20 May 2009  |  1808 views  |  0 Source: EuroCCP

European Central Counterparty Limited (EuroCCP) today announced the appointment of Andrew Simpson as head of Product Management in London.

In this newly created position, Simpson will focus on product strategy and business planning, and be responsible for developing EuroCCP's positioning on industry issues.

Simpson comes to EuroCCP from SWX Europe, the London-based exchange, where he served as COO for the past year.

"Andrew joins EuroCCP at a critical time for the European financial sector, when the marketplace is fragmented and when the industry values more than ever the risk management capabilities offered through CCPs," said Diana Chan, chief executive officer of EuroCCP. "We are fortunate to add to our team someone with experience on both the exchange and regulatory side, which will assist us greatly in shaping EuroCCP's competitive positioning."

EuroCCP, a Recognised Clearing House regulated by the Financial Services Authority, clears trades for multilateral trading facilities Turquoise, SmartPool and NYSE Arca Europe. EuroCCP is also working with SecFinex to develop a central counterparty solution for securities lending and borrowing transactions in the UK market. EuroCCP has also signed a memorandum of understanding with NASDAQ OMX Nordic Oy to be one of three central counterparties to provide clearing services for NASDAQ OMX's stock exchanges in Denmark, Finland and Sweden. Pipeline Financial Group Limited earlier this week announced the appointment of EuroCCP to support Pipeline's new pan-European block trading and specialist algorithmic trading platform.

Prior to SWX Europe, Simpson was head of IS Strategy for the UK Financial Services Authority's (FSA's) Wholesale and Institutional Markets unit from April 2004 to November 2006. He holds a degree in Structural Engineering and Architecture from the University of Manchester.

Simpson will report to Chan and to Neil Henderson, DTCC managing director, International Clearing and Settlement.

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