Swaps-futures exchange Eris Futures has hired Barclays former head of agency derivatives Tim Stack as head of Europe, and will open a new London-based office.
Stack, who previously headed the British bank’s global futures and OTC clearing business, will be responsible for sales, marketing and partnerships in Europe.
“Given the recent capital requirements for holding uncleared swaps and the implementation of European swap clearing mandates and MiFID2, the timing is ideal for Eris to expand to Europe and to add to our management team an industry professional of Tim’s calibre,” says Neal Brady, CEO, Eris Futures.
Eris is the latest US derivatives exchange to open a London office following the UK’s vote to leave the EU. The Chicago Options Board Exchange (CBOE) has recently began its London operations with a new office.
It is also the latest push from Eris to expand its global reach following the hire of Geoffrey Sharp last year as global head of sales.