BATS Europe, the pan-European multilateral trading facility (MTF) owned by US-based market operator BATS Global Markets, has appointed Adam Eades as its new head of regulatory and legal affairs.
Eades replaces Anna Westbury, who left BATS Europe in August 2011 and will report to CEO Mark Hemsley. Prior to joining the MTF, Eades most recent position was global general counsel at UK-based asset manager Henderson Group, where he led legal, compliance and corporate secretariat functions in Europe, North America, southeast Asia and Australia.
He also spent 14 years in various positions at derivatives exchange LIFFE, prior to and following its acquisition by NYSE Euronext at the end of 2001, including a role as global head of the market’s legal affairs division.
Eades was also chairman of LIFFE Trustees, the corporate trustee of the LIFFE pension scheme, and a director on the board Euronext UK.
“We are pleased to welcome someone of Adam’s experience to the team during this period of profound change in the European market landscape as it relates to competition, regulation and market structure,” said Hemsley. “His depth of legal and regulatory expertise and strong background in exchange trading, clearing and corporate governance makes him a tremendous addition to our senior management team.”
BATS Global Markets is currently awaiting final approval from the UK’s Competition Commission to acquire rival European MTF Chi-X Europe, having received provisional clearance for the deal last month.
The statutory deadline for the Competition Commission’s inquiry is 2 December, after which point BATS will seek to finalise the transaction and begin integrating the two platforms.
Chi-X Europe’s director of regulation Denzil Jenkins also plans to leave the MTF early next year to take up a newly-created position at the London Stock Exchange Group as head of compliance and regulation.