The Future of Clearing & Settlement

Andrew Simpson

Head of Product Management, EuroCCP

Biography

Andrew Simpson came to EuroCCP from London-based exchange SWX Europe, where he served as interim Chief Operating Officer and led the delivery of their dark pool. Prior to SWX Europe, Andrew was head of IS Strategy for the UK Financial Services Authority's (FSA's) Wholesale and Institutional Markets. Upon leaving the FSA he provided strategic change advice for a number of MTFs and banks delivering one of the earliest Smart Routing systems and wrote whitepapers on Market Transparency, The Liquid List of EU shares and Creating Best Execution Policies. At EuroCCP, Andrew focuses on business strategy and product development. He is responsible for business growth and developing EuroCCP's positioning on industry issues.

Andreas Wolf

Chief Executive Officer, Clearstream Banking Frankfurt

Biography

Andreas Wolf is the Chief Executive Officer of Clearstream Banking Frankfurt (CBF) and Chief Operating Officer of Clearstream International.

Prior to joining Clearstream in February 2000, Andreas Wolf served 11 years with Commerzbank AG, Frankfurt. His responsibilities included Specialist in the Department Foreign Securities and Head of Group Special Services, leading to a Vice President position in October 1999.

Andreas first served as Senior Project Manager at Clearstream in February 2000, which lead to various senior management positions including Head of the Settlement and Banking Department and Head of Customer Service Worldwide. He was then appointed a member of the Executive Board of Clearstream Banking Frankfurt in June 2003 and is now serving as CEO of Clearstream Banking Frankfurt since March 2007. Mr. Wolf is also acting as COO of Clearstream International.

Andrew Lamb

Chief Executive Officer, CME Clearing Europe

Biography

Andrew Lamb has been directly involved in central counterparty clearing for almost twenty years. He was appointed CEO of a new arrival in London, CME Clearing Europe, in August 2009. Before that he spent eleven years at LCH as head of risk; two at LCH Clearnet as CEO of the London subsidiary; and was consultant and independent non-executive director of ICE Clear Europe immediately before assuming his current position. His career before clearing was spent at the Bank of England, which included three years on secondment to the European Commission. Before central banking he studied at LSE.

Willem Mooijer

Director for CRM & Sales, EMCF

Biography

Relevant career:

- Head of operations of Dutch derivatives clearing corporation 10 years; 1985 to 1995

- Head of operations Bank Labouchere NV; 4 years; 1995 to 1999

- Associate director, later managing director, of Dexia Securities Services NV (Dutch licensed bank, specialized in securities services); 8 years; 1999 to 2005

- Independent consultant in securities banking 2005 – today

Hired by Fortis for the EMCF project from January 2007.

- Formal position with EMCF: Director of Sales and Client Relations. Heavily involved in the initial set-up of EMCF and responsible for the project of introducing CCP clearing in the Nordic markets.

Paul Swann

President and Chief Operating Officer, ICE Clear Europe

Biography

Paul Swann is the President and Chief Operating Officer of ICE Clear Europe, the wholly-owned European clearing house of IntercontinentalExchange (NYSE: ICE). Mr. Swann was named to his post at ICE in July, 2007 and was instrumental in the launch of ICE Clear Europe in November, 2008. In his role, Mr. Swann oversees all technology, operations and financial functions at the London-based clearing house. Mr. Swann has over 20 years experience in European derivatives and equities clearing, and prior to joining ICE, he was most recently Managing Director, Group Risk and Managing Director, Change for LCH.Clearnet Ltd. During his tenure at LCH.Clearnet Ltd., Mr. Swann held various leadership positions in technology, operations, and risk management. In those roles, Mr. Swann worked closely with ICE on its energy futures and over-the-counter (OTC) clearing business.

Tomas Kindler

Managing Director, Link Up Markets

Biography

Tomas Kindler is Managing Director of Link Up Markets, a Madrid based company founded by seven Central Securities Depositories in April 2008 to improve efficiency and reduce costs of post-trade processing of cross-border securities transactions in Europe. Tomas Kindler joined Link Up Markets from Clearstream, the settlement and custody division at Deutsche Börse Group, where he was inter alia responsible for Clearstream's strategic projects and represented Clearstream in a number of industry discussions on topics such as TARGET2 Securities and the European Code of Conduct for Clearing and Settlement. He has a degree in Industrial Engineering and Management from the Technical University of Hamburg/Germany, and holds an MBA from Duke University, North Carolina.

For further information please contact: media@linkupmarkets.com

Patrick Pearson

Head of Unit, Financial Infrastructure, European Commission

Biography

Patrick Pearson is Head of Financial Markets Infrastructure in the European Commission's Internal Market Directorate General. He is heading the team that is responsible for regulating OTC derivatives and clearing and settlement. He previously headed the Commission's banking regulatory team and was responsible for the Financial Services Action Plan. Before joining the European Commission Patrick Pearson worked for the Dutch Finance Ministry

John Tanner

Post-Trade, London Stock Exchange

Biography

John has worked at the Exchange for over 20 years in a variety of roles. He is involved in a wide range of post-trade developments, including the future development of the UK post-trade model, and external developments such as the debate about interoperability and T2S. John was responsible for the introduction of the central counterparty to SETS and previously worked on other post-trade developments such as the introduction of rolling settlement to the UK. John was the Exchange's representative on the Giovannini Group and was also heavily involved in the production of the European Code of Conduct for Clearing and Settlement.

Robert Barnes

Managing Director, Equities, UBS Investment Bank

Biography

BA Harvard, PhD Cambridge. Joined the proprietary trading team at Swiss Bank Corporation in 1994, gained experience 'downstairs' on the LIFFE derivatives floor as a yellow jacket and 'upstairs' trading special situations via brokers across most western markets. Currently Managing Director, Equities responsible for Market Structures at UBS Investment Bank, Chairman of the Securities Trading Committee of the London Investment Banking Association, a member of user advisory groups for a number of Stock Exchanges and pro-competitive initiatives, the FSA's Capital Markets Sector Senior Practitioner Committee, Euroclear's UK Market Advisory Committee, a Fellow of the Securities & Investment Institute sitting on its Membership Committee, the UBS high level representative by invitation to the European Commission's CESAME and now CESAME2 Group, and a member of the FTSE Country Classification Committee.

Rory Cunningham

Chairman, EACH

Biography

Rory joined LCH.Clearnet (then ICCH) in 1982 as a programmer working on real-time mainframe systems to support the introduction of LIFFE and other markets, and later developed some of the earliest PC applications for the company. Later he became a business analyst and became involved in the introduction of traded options on the commodity markets and the introduction of the LME clearing service, specialising in margining. In 1987 was appointed Manager of the Risk Management department and led the investigation of SPAN and other risk management techniques. From 1992 to 1998 he was responsible for LCH's Treasury, becoming Director, and developed a particular interest in collateral and payments issues. He then moved to a business development role and was responsible for LCH's equities business development until 2001.

He then took on a wider strategic role and participated in studies such as into the clearing proposition for new asset classes and the value proposition of a CCP, and continued his interest in risk and regulatory issues. Most recently he has taken on a public affairs role and was heavily involved in preparing LCH.Clearnet's input at UK and European level to issues such as the competition investigations of the bids for the LSE and Euronext, and the Code of Conduct, and the global derivatives initiatives.

Rory is Chairman of EACH (the European Association of Central Counterparty Clearing Houses), a member of the Executive Committee of the global CCP association CCP12, and a member of the European Commission's CESAME2 Group.

Godfried De Vidts

Director of European Affairs, ICAP

Biography

Godfried De Vidts was appointed as Director of European Affairs for ICAP plc, the world’s largest interdealer broker, on 23 January 2006.

He advises on European financial and political issues and is involved in ICAP’s business with the European Commission and Parliament. In addition he maintains regular contact with all of the European Central Banks and Treasuries. He works closely with ICAP’s electronic and voice broking businesses on marketing and product development across Europe.

Godfried De Vidts takes an active role in the development of the European financial services industry, including:

• Chairman of “The European Repo Council”  under the auspices of the
  International Capital Markets Association (www.icma-group.org)
• President of Euribor ACI (www.aciforex.com)
• Member of the Cesame group 2 of the European Commission
• Member of the Code of Conduct Monitoring Group (MOG) of the European Commission
• Member of the ECB Contact Group on Euro Securities Infrastructures (Cogesi)
• Member of the Giovannini working group

• Mr De Vidts is honorary President of ACI, The Financial Markets Association and also honorary President of ACI Belgium.

From 1972 Mr De Vidts has worked in the financial markets involving FRAs, futures, options, money markets, forward FX, Euronotes and C.P. In 1995 he became involved in the development of the international and triparty repo markets. In 1999 he became product manager for the short end of the market, moving forward into netting and trading systems, emerging markets repo and equity triparty repo. Prior to joining ICAP he was in charge of global liquidity and collateral management at a major European bank.

Mr De Vidts is a regular speaker at conferences and frequently contributes articles related to the development of financial products and innovation in the financial markets.

Joe Reilly

Director, SwapClear, LCH.Clearnet

Biography

Joe Reilly has over 25 years experience in the OTC Derivatives market.

Joe spent 9 years setting up and managing the OTC derivatives middle and back office with S.G Warburg prior to the merger with Swiss Bank Corporation in the mid 90’s. In 1995 he joined BZW as European head of derivative operations and developed the support function prior to the formation of Barclays Capital. Following this, he spent 14 years at Barclays Capital in a variety of roles, predominantly as global head of OTC derivatives operations. During his time at Barclays Capital Joe sat on many industry committees, boards and forums including OTCDerivnet, ISDA Strategy Group and DTCC Senior Operations Group.

Joe joined LCH.Clearnet in 2009 to head the highly successful SwapClear business unit.

Helmut Wacket

Section Head, Target 2 Securities Team, European Central Bank

Biography

Helmut Wacket has a degree in Business Administration and has a broad background in central banking. From 1983 – 1999 he worked in different functions for the Deutsche Bundesbank, inter alia in the payment systems department, European department, economics department and as Assistant Representative in the Representative Office of the Deutsche Bundesbank in New York.

Having joined the ECB in 1999 he has worked on payment system oversight issues and is now Head of the External Stakeholder Management Section in the T2S Division. He is the Secretary of the T2S Advisory Group. In previous assignments at the ECB, he worked in the Back Office Division and the Market Operations Analysis Division of the Directorate General Market Operations. He represented the ECB in the CPSS Working Group on Retail Payment Systems and the CPSS Task Force on Payment System Principles and Practices, drafting the “Core Principles” report. He also was a member of the CPSS Sub-Group on FX settlement risk, the forum to perform the co-operative central bank oversight of CLS.

Henry Raschen

Chairman, T2S UK National User Group

Biography

Henry Raschen joined Samuel Montagu, now part of the HSBC Group, in 1989. After carrying out a number of European financial reporting and investment analysis roles, he moved to HSBC Securities Services, where in his current role as Head of Regulatory & Industry Affairs for Europe he leads a team to identify and assess market changes in order to specify future client services. He is a member of the ECB's T2S Advisory Group and chairman of the T2S UK National User Group. Henry Raschen is a chartered accountant.

Bernie Kennedy

Head of Post Trade Services, Turquoise

Biography

Cross Border Payments and FX specialist prior to joining Turquoise as Head of Post Trade Services. Director of Product at CLS - the FX industry infrastructure and represented the UK banking industry at a variety of fora at the European community level. Currently responsible for Post Trade at Turquoise, including new product/market development, managing interoperability for Turquoise, together with working with the industry to identify further means to improve the efficiency of the post trade landscape.

Masters graduate of Law from the University of London.

Jan Lemeire

Director, Strategy, Euroclear

Biography

Jan Lemeire, Director, heads up the Target2-Securities (T2S) team as part of Euroclear’s Corporate Strategy Division. He and his team are responsible for the strategic positioning of Euroclear in a T2S environment, as well as ensuring Euroclear’s technical readiness for T2S.

Previously, Mr. Lemeire was Programme Manager for Euroclear’s single processing solution currently serving the Belgian, Dutch and French securities markets, called the Euroclear Settlement of Euronext-zone Securities (ESES) platform. He was also Product Manager for banking and liquidity services at Euroclear Bank, and was responsible for developing the Central Bank Payment Model for the Euroclear group’s Single Platform as Director of the Business Model & Harmonisation Division.

Jan Lemeire started his Euroclear career in the Commercial Division where he was responsible for the client support team covering clients in the Asia-Pacific region. He then moved into sales and relationship management where he was responsible for UK and US broker-dealer clients. Mr. Lemeire also spent several years in New York covering Euroclear Bank’s North American clients.

Jan Lemeire has a banking degree (Beurs en Financiën) from the VTH in Aalst, Belgium.

Alan Cameron

Head of Clearing, Settlement and Custody Client Solutions, BNP Paribas Securities Services

Biography

Alan joined BNP Paribas in 2008 and his current role is to lead our clearing, settlement and custody business on a global basis. He is a member of the BNP Paribas Securities Services Management Comex. Alan has over 25 years experience in Financial Services, in various senior management positions, primarily within the securities services environment.

Prior to joining BNP Paribas Alan worked for Citi's Global Transaction Banking division, undertaking a number of different management roles in sales, relationship management and product management.

He is a graduate of the University of Edinburgh and an Associate of the Chartered Institute of Bankers in Scotland.

Jeremy Grant

Editor, FT Trading Room, Financial Times

Biography

Jeremy Grant edits, and writes for, the FT Trading Room, the FT’s new web offering providing a single source of intelligence for trading, exchanges, clearing, settlement, financial markets regulation and trading technology,

His background in exchanges coverage started with an assignment as Chicago & Midwest correspondent for the FT (2002-05), covering US derivatives exchanges. He then spent three years in Washington, DC covering financial regulation focused on the Securities and Exchange Commission and Commodity Futures Trading Commission.

In Chicago, Grant also held the posts of US Automotive Correspondent and US Consumer Industries Correspondent (including food, obesity and agriculture).

He returned to the FT’s London office in March 2008, as Senior Corporate Reporter covering British business news and trends, as well as stock and derivatives exchanges/clearing and emerging trading platforms in Europe.

Grant started his career at the FT as the paper’s first Vietnam Correspondent based in Hanoi (1994-98), followed by reporting in the London-based Capital Markets team and over three years as editor i/c European companies coverage. He also reported from the FT’s Frankfurt and Zurich bureaux.