Jack Jeffery, a former executive at inter-dealer broker ICAP, has been appointed the new CEO of European fixed-income exchange MTS, a part of the London Stock Exchange Group (LSE).
He takes over from Ciro Pietroluongo, who has assumed the position of general manager of MTS and will continue to run MTS’s Italian operation.
Jeffery reports directly to Raffaele Jerusalmi, the LSE’s director of capital markets, and will focus on growing the MTS business internationally.
“With his wealth of relevant experience, I believe Jack will make a significant contribution to our business,” said LSE CEO Xavier Rolet in a statement. “I look forward to working with him.”
MTS, Jeffery was chief operating officer of SuperDerivatives, a provider of derivatives pricing systems. Prior to that, he was CEO of ICAP Electronic Broking, which included responsibility for BrokerTec and EBS, electronic broking platforms for fixed income and spot FX respectively. Jeffery was CEO of EBS before ICAP acquired it in 2006. Between 1990 and 2001, he held variety of roles at Citigroup in the UK and Australia and between 1984 and 1990 he worked for broker Midland Montague in Sydney, Australia. He began his career as a foreign exchange trader at BNP Australia in 1982.
“In the current environment, with record levels of government debt being issued across the eurozone, there is an increased emphasis on ensuring open and transparent markets,” said Jeffery.
“As the only pan-European electronic order book, MTS is well placed to build on the reputation it has established in the marketplace. I look forward to working with MTS staff, customers, regulators and treasuries during this exciting period, as we continue to leverage our relationship with London Stock Exchange Group, growing and developing our markets.”
LSE acquired MTS when it bought Italian stock exchange group Borsa Italiana in 2007. MTS’s daily volumes exceed €85 billion on a single-counted basis, according to the LSE.