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Andrew Ross appointed as head of LSE's new futures exchange

05 February 2016  |  3536 views  |  0 Source: London Stock Exchange

The CurveGlobal Limited Board today announces the appointment of Andrew Ross as CEO of CurveGlobal, the new interest rate derivatives venture between LSEG, seven major dealer banks and the Chicago Board Options Exchange.

Since the announcement of CurveGlobal in October 2015, BNP Paribas has elected to join the venture which incorporated in the UK on 29th January 2016. The bank shareholder group now comprises Bank of America Merrill Lynch, Barclays, BNP Paribas, Citibank, Goldman Sachs, JP Morgan and Societe Generale.

Andrew will join CurveGlobal from Morgan Stanley where most recently he was Managing Director, Global Head of Agency listed derivative electronic execution and European Head of Clearing. In his more than 10 years at Morgan Stanley, Andrew also had roles as Head of CVA Trading in London and managed the European clearing team.

Michael Davie, Chairman, CurveGlobal Limited said:
“CurveGlobal’s success will be built on its ability to bring together a broad swathe of ETD and OTC market participants including the buy and sell sides, prop trading firms and market makers. It’s therefore vital that our Chief Executive has the depth of experience and relationship with each of these communities which is why I’m delighted that Andrew will be taking on the role. He brings unparalleled experience and an exceptional track record of successfully growing businesses within this very competitive industry.”

Andrew Ross, CEO, CurveGlobal Limited said:
“I’m delighted to be joining CurveGlobal, and cannot imagine a better time to be bringing efficiency and innovation to Rates markets. It will be a privilege to work with seven of the world’s major banks, CBOE, London Stock Exchange Group and LCH.Clearnet to realise the potential of a new venture designed by, and delivered for the market.”

Announced in October 2015, CurveGlobal plans to initially offer trading in Sterling and Euro denominated short and long term interest rate futures, with additional products introduced subsequently to meet the interests of market practitioners. All products designed and supported by CurveGlobal are intended to be admitted to trading on LSEG’s wholly owned subsidiary, London Stock Exchange plc’s, London Stock Exchange Derivatives Market, and cleared through LCH.Clearnet, subject to regulatory approvals and necessary licences.

CurveGlobal will offer competitive pricing and lower overall participant costs through efficient margining across the futures markets and between listed futures and OTC swaps. The launch of this unique venture will enhance London Stock Exchange Derivative Market’s product offering and leverage LCH.Clearnet’s recently announced interest rate portfolio margining service, LCH Spider.

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