Singapore Exchange chief executive officer Magnus Bocker will not extend his contract beyond June this year, leaving the company after five and a half years.
Bocker joined SGX in December 2009 from Scandinavian exchange operator OMX which merged with Nasdaq in 2007.
Under Bocker’s reign at SGX, the exchange became one of the fastest growing derivatives platforms in the world, something Bocker highlighted in his comments on departing the venue.
"It has been an honour to lead the extraordinary people at SGX for more than half a decade,” he said. “I am proud of our accomplishments in expanding SGX both in Singapore and internationally, especially for Asian equity index derivatives.”
SGX has said it is moving forward with its CEO succession plan and is assessing internal and external candidates on a short list.
"The Board understands Magnus' considerations and respects his decision,” said SGX chairman Chew Choon Seng. “We appreciate and thank Magnus for his contributions and leadership over an eventful and rapidly changing period, and wish him the best in his future endeavours. We will work towards a smooth leadership transition.”