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MCX (Multi Commodity Exchange of India Ltd.), India's leading commodity exchange today announced the appointment of Mr. Lawrence Leibowitz, Group Executive Vice President and Head of US Markets and Global Technology, NYSE Euronext (NYX), to the MCX Advisory Board, effective March 01, 2009. His role on the advisory board will be to engage MCX on various strategic developments and lend his expertise identify opportunities in international operations. Last year, NYSE Euronext purchased 5% equity interest (maximum allowed by Government) in MCX. This was NYSE Euronext’s first investment in a commodity exchange in the Asia Pacific region.
Mr. Lawrence Leibowitz, Group Executive Vice President and Head of US Markets and Global Technology, NYSE Euronext (NYX), said, "I am pleased to join the MCX Advisory Board, and I look forward to working with the MCX leadership team to further advancing Indian Commodity Market. MCX is the 8th largest commodity derivative exchange in the world with leadership in metals and energy segments and I am pleased to be associated with MCX and involved with the organization's strategy for the future."
On the appointment of Mr. Leibowitz, Mr. Joseph Massey, MD & CEO, MCX, said, "We believe in getting the best industry talent to India and Indian Exchange Industry which will ensure that India emerges as a price reference between Tokyo and London. In continuation to our pioneering efforts, this is one more step which will leverage Mr. Leibowitz experience to position MCX as a reference exchange in Multi Asset Classes. We are glad to have Mr. Leibowitz on our Advisory Board and I extend him a warm welcome on behalf of the MCX Leadership team. We are confident that Mr. Leibowitz, with his vast experience and financial expertise will help MCX find new and innovative ways to drive efficiencies and introduce global best-practices in Indian commodity markets"
Mr. Leibowitz is responsible for NYSE Euronext business and product developments for the company's U.S. cash markets. He also oversees NYSE Euronext's ongoing equities trading platform integration initiative, the company's global technology systems and development, and its U.S. options business.
In addition to chairing the Securities Industry and Financial Markets Association's (SIFMA) Market Structure Committee, Mr. Leibowitz has participated in numerous industry forums related to market structure issues.
Prior to joining NYSE Euronext, Mr. Leibowitz was most recently with UBS Americas Equities where he served as Chief Operating Officer. He was responsible for Market Structure, Strategic Planning, Business Analysis, Regulatory Control, and the Broker Services Functions for the Equities Division.
MCX is India's No. 1 commodity exchange for the trading of precious metals, ferrous and non-ferrous metals, energy, agriculture and industrial commodities. Founded in 2003, MCX has exhibited strong leadership in product innovation, trading and clearing functionality, self-regulation, transaction cost efficiency and customer focus, positioning MCX to compete on a global scale.
