Peter Heales, who became one of the world's most influential authorities on listed derivatives when he was chairman of the Futures Industry Association (FIA) Europe has joined FCM360, the financial systems infrastructure strategy and implementation company.
Heales will serve as FCM360's managing director for Europe, the Middle East and Asia.
With three decades of derivatives experience with ICAP, Bear Stearns and JP Morgan, Heales will play a key role in establishing FCM360 as the global provider-of-record for the financial systems infrastructure used by exchanges, ECNs and brokers.
Heales has influenced policies and practices governing exchange listed derivatives, and solutions for high-speed, low-latency trading as chairman of the Futures Industry Association (FIA) European Chapter. Heales fostered stable dependable technological support that is key to successful trade execution, allocation, risk control and reporting.
Heales also held membership on the Futures Options Association (FOA) Executive Committee and London Clearing House (LCH) Clearnet Risk Committee.
Based in London, Heales was responsible for migrating Bear Stearns listed derivatives business to JP Morgan and, while with ICAP, he managed front-to-back connectivity infrastructure projects.
Announcing the appointment, Jubin Pejman, FCM360 managing director, said, "Having Peter onboard strengthens our international capability helping us to grow across Europe and Asia. Much of the global demand stems from Forex brokers becoming more globally dispersed due to regulatory uncertainty in the US and Western Europe. Over the past year FCM360 has capitalized on this explosive growth in the Forex markets of Eastern Europe, Russia, China, Hong Kong and Japan. We're now providing managed hosting and connectivity services for some of the largest ECNs and sell side companies that provide FX brokerage and liquidity aggregation services in Asia."
In addition to serving the Forex community, Heales will support FCM360's expansion into high-speed commodities trading including energy and derivatives.
Notes Heales, "With exploding volumes, post execution processing, risk controls and regulatory reporting have become enormous challenges and are creating pressures on operational processing. To meet these challenges, we need to work with exchanges, vendors, clearing houses and regulators to foster understanding and mutually beneficial initiatives."
FCM360's Pejman notes, "While the role of regulators is pushing business away from the US and Western Europe, worldwide expansion for managed infrastructure services is growing in Asia and driving demand for turnkey managed infrastructure services."