International Derivatives Clearing Group, LLC (IDCG), a majority owned, independently operated, subsidiary of The NASDAQ OMX Group, Inc.(SM) today announced that the IDCG Board of Directors appointed Garry N. O'Connor as CEO of IDCG, effective immediately. Mr. O'Connor, 39, previously served as Chief Product Officer for IDCG. Mr. O'Connor succeeds Chris Edmonds, who stepped down to pursue other opportunities. IDCG and the Board appreciate Mr. Edmonds' contribution to the success of IDCG to date and wish him well in his future endeavors.
Vincent Viola, Chairman of the IDCG Board of Directors, commented, "We are extremely pleased to have someone of Mr. O'Connor's extensive experience in the interest rate derivatives markets in a position to lead IDCG to commercial success."
Eric Noll, Executive Vice President of NASDAQ OMX Group, stated, "We are delighted with the selection of Garry O'Connor given his profound understanding of the OTC interest rate markets."
Prior to joining IDCG, Mr. O'Connor spent 17 years in the investment banking industry, pricing and managing interest rate derivative portfolios. He has held senior positions in Sydney, Tokyo, Hong Kong and New York with Bankers Trust and Merrill Lynch. During his time at Merrill Lynch, Mr. O'Connor led the Australasian interest rate derivatives trading operation in Sydney and the interest rate swaps trading desk in Tokyo. Mr. O'Connor also helped establish Merrill Lynch's Asian US Dollar interest rate trading business and its North American presence in the European derivatives markets.
Previously, while at Bankers Trust, he managed interest rate, foreign exchange, and commodities risk in both Sydney and Auckland. Mr. O'Connor received a BCom (Hons) from Otago University in New Zealand in 1992.