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NYSE Euronext appoints implementation team for European clearing houses

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Following its May announcement that it plans to launch two purpose-built clearing houses in London and Paris before the end of 2012, NYSE Euronext has named the leadership team which will be engaging with customers and partners on the delivery of the project.



Mark Ibbotson, formerly the chief operating officer of NYSE Euronext’s global derivatives segment, will lead the implementation team as executive vice president, global clearing, reporting to Duncan Niederauer, the group chief executive officer.

Reporting to Ibbotson will be Declan Ward, executive director of NYSE Liffe Clearing in London, and Michel Favreau, the company’s clearing project director in Paris.
 
Niederauer says: “Our new European clearing houses will be central to our strategy  of expanding our community, delivering value to customers and diversifying the business mix of NYSE Euronext. This initiative will substantially extend our post-trade capabilities and build on our existing London NYSE Liffe Clearing operations as well as our launch of NYPC in the US early next year. Mark Ibbotson and his team have an exciting task ahead to develop new and innovative clearing solutions for our customers which will enable further growth in our trading franchises and open up new opportunities in clearing.”
 
Ibbotson adds: “This is a very exciting opportunity to work with our customers and the wider community to develop purpose-built clearing houses in London and Paris which will deliver genuine added value to the marketplace. Clearing is an essential component to the safety and soundness of the markets and we look forward to engaging with customers, regulators and suppliers as we now translate our clearing house design work into more detailed delivery plans.”
 
Ibbotson has over 20 years’ experience at NYSE Euronext in leadership roles spanning clearing operations, trading operations and technology development.

Ward has led the group’s existing London central counterparty operations since launch in 2009, and will now lead the effort to build-out its full-service clearing house in London.

Favreau, who has rejoined NYSE Euronext to lead the Paris clearing house project, has led the clearing operations of the Matif exchange in Paris before spending much of the last decade in Canada running the clearing division of the Montreal exchange.

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