Sandy Broderick has been appointed as Non-Executive Director (NED) to the Boards of GMEX Technologies Limited (GMEX TECH); Global Markets Exchange Group Limited (GMEX) which operates GMEX Exchange; and Global Derivatives Indices Limited (GDI).
Broderick, most recently CEO of DTCC Deriv/SERV, brings 25 years’ derivatives experience in trading and post-trade infrastructure to the team. He joins Lamon Rutten as an independent NED on all three Boards and will serve as Chairman of GMEX with Lamon becoming Chairman of GMEX TECH and Hirander Misra continuing as Executive Chairman of GDI.
Mark Blundell has transitioned from a Non-Executive Director to take up the role of Chairman of the GDI Index Oversight Committee. This appointment will help ensure the index benchmarks underpinning GMEX’s pioneering Constant Maturity Futures (CMF) IRS contracts continue to have very high standards of data integrity. These contracts will be matched by GMEX Exchange, which is scheduled to launch during Q2 2015, with trade confirmation and clearing occurring at Eurex. Both competition and regulatory change are driving the need for credible index benchmarks to underpin global trading activity based on tradable inputs that can be trusted.
“Sandy Broderick’s appointment to our Boards joining Lamon Rutten is great news as it helps ensure we have added to existing high standards of governance and expertise as the various group businesses continue to grow,” says Hirander Misra, CEO of GMEX Group. “In addition, Mark’s position at the helm of the GDI Index Oversight Committee will ensure that GDI’s indices have the potential to become the industry’s most representative benchmarks of fair value and integrity for the interest rate swaps market.”
