Pan-European clearing house EuroCCP, a subsidiary of US post-trade provider The Depositary Trust & Clearing Corporation (DTCC), has appointed Andrew Simpson as head of product management in London.
Simpson has served as chief operating officer of SWX Europe, the London-based exchange for trading Swiss blue-chip stocks listed on SIX Swiss Exchange, for the past year. SIX closed SWX Europe after shifting trading in Swiss blue-chips back to Zurich on 4 May.
In his new role – a newly-created position at EuroCCP – Simpson will focus on product strategy and business planning, and be responsible for EuroCCP’s positioning on industry issues. He will report to EuroCCP CEO Diana Chan and Neil Henderson, managing director of international clearing and settlement at DTCC.
Before joining SWX Europe, Simpson was head of information services strategy at the UK Financial Services Authority’s wholesale and institutional markets unit from April 2004 to November 2006.
“Andrew joins EuroCCP at a critical time for the European financial sector, when the marketplace is fragmented and when the industry values more than ever the risk management capabilities offered through CCPs,” said Chan in a statement. “We are fortunate to add to our team someone with experience on both the exchange and regulatory side, which will assist us greatly in shaping EuroCCP’s competitive positioning.”
EuroCCP clears for multilateral trading facilities Turquoise, SmartPool and NYSE Arca Europe. It has also recently agreed to provide CCP services to block trading platform Pipeline’s European operation.