The London Stock Exchange (LSE) has appointed ex-Xtrakter CEO Kevin Milne to lead its post-trade services business.
Milne starts at the LSE today as director of post-trade services, reporting directly to Xavier Rolet, CEO of the LSE Group.
Milne left fellow post-trade services provider Xtrakter at the end of last year and was replaced by Yanic Webber. He was also a member of settlement firm Euroclear’s senior management team, following Euroclear’s purchase of Xtrakter from the International Capital Market Association (ICMA) in November 2008. Milne has more than 25 years’ capital markets experience.
Milne replaces Massimo Capuano, who will remain CEO of Borsa Italiana, deputy CEO of the LSE Group and head of legal and regulatory strategy.
Since taking the helm at the LSE last May, Rolet has identified post-trade services as an area of growth to help bolster the exchange’s core cash equities business. An LSE spokesman told theTRADEnews.com that Milne’s appointment underscores the exchange’s ambitions in the post-trade space.
“We are delighted to welcome Kevin to the team,” said Rolet in a statement. “He brings a wealth of industry experience, which will add considerably to the strength of the Executive team and our ability to take advantage of new opportunities in the provision of market infrastructure and ancillary services.”
The LSE declined to comment on press reports that it is planning to buy Dutch-regulated pan-European clearing house European Multilateral Clearing Facility (EMCF).
The pan-European clearer has been majority owned by the Dutch government since its bail-out of EMCF’s founder Fortis. Exchange group Nasdaq OMX has a 22% stake.