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EuroCCP, a leading pan-European equity clearing house owned by Cboe Global Markets, today announces changes to its senior management team designed to enhance the firm’s operational resiliency and risk management capabilities, two areas of focus for the firm as it continues its diversification into new asset classes.
The three appointments are:
- Arnoud Siegmann, Chief Operating Officer. Arnoud was previously Chief Risk Officer at EuroCCP and its predecessor EMCF, joining in 2008.
- Jonathan Tran, Chief Risk Officer. Jonathan was formerly Deputy Chief Risk Officer, having joined EuroCCP in 2018 from LCH.
- Ed Hughes, Chief Technology Officer. Ed joined EuroCCP in 2019 initially to manage its expansion into equity derivatives. He previously held change, technology and operations roles at LCH.
“The strengthening of our senior management team reflects the change EuroCCP’s business has undergone since our acquisition by Cboe Global Markets. It positions the firm for the next stage of our transformation into a multi-asset clearing house, with our planned diversification into equity derivatives being a natural extension and complement to our existing cash equities and ETF businesses,” said Cécile Nagel, CEO of EuroCCP.
Since its inception, EuroCCP has become one of the leading pan-European cash equities clearing houses, with access to 39 venues representing approximately 95% of all European equity trading flows. It was fully acquired by Cboe Global Markets in July 2020 and is expanding into clearing equity derivatives in support of Cboe Europe Derivatives, a planned new equity futures and options exchange, subject to regulatory approvals.
Ms Nagel continued: “Despite the huge volatility in financial markets over the last 12 months and, more recently, the impact of Brexit, we have consolidated our position as the leading pan-European equities clearing house. We have also reinforced our operational resiliency with the implementation of a stronger liquidity management framework, as well as a new margin risk management system expected to be deployed later this month. These appointments recognise the significant contribution that Arnoud, Jonathan and Ed have each made to these achievements.”
EuroCCP cleared 1.7 billion trades in 2020, up 31% on 2019, with strong growth already this year, including record volumes on Euronext markets through the preferred clearing model in Q1 2021.
