BATS Chi-X Europe, the dual pan-European multilateral trading facility (MTF), has promoted Guy Simpkin to head of business development as the firm looks to diversify into derivatives trading.
Simpkin joined Chi-X Europe in May 2010, prior to the acquisition of the MTF by BATS Global Markets, which was finalised at the end of last year.
He will report to BATS Chi-X Europe CEO Mark Hemsley and play a key role in the development of the MTF’s equity derivatives plan.
Prior to joining Chi-X, Simpkin held senior business development roles at NYSE Liffe, the London-based derivatives market, and in equity and equity derivatives clearing positions at Anglo-French clearer LCH.Cearnet.
BATS Chi-X Europe is mulling ways to move forward on its equity derivatives service, first initiated by Chi-X Europe last October through a partnership with Russell Investments. The joint venture resulted in the creation of the Chi-X Europe Russell Index series, a collection of European indices across 14 of the continent’s markets that have been designed to become tradable products.
Speaking to theTRADEnews in early May, Hemsley said the MTF was had held talks with its existing cash equities central counterparties for the clearing of equity derivatives as well as other CCPs that it isn’t connected to.
“Guy was deeply involved in all areas of business development for Chi-X Europe and it is a natural progression for him to lead our efforts in this area,” said Hemsley.
“I am excited to lead BATS Chi-X Europe’s business development initiatives to bring more competition to the European index and derivatives area, among others, as the company has successfully done in the equities market,” added Simpkin.
Cassina leaves Citadel
Meanwhile, Citadel Execution Services, a subsidiary of broker Citadel Securities, has confirmed that Matteo Cassina, the firm’s president for Europe, has left the firm.
Cassina joined CES Europe in 2008 having previously been head of Total Trader, Merrill Lynch’s wholesale electronic trading platform. CES Europe is a strategic investor in Equiduct, the pan-European retail-focused regulated market.
No announcement has been made on Cassina’s replacement.