Laurent Paulhac appointed CEO of the ICAP SEF
24 October 2013
New York, London – October 24, 2013 ICAP plc (IAP.L), a leading markets operator and provider of post trade risk mitigation and information services, announces that Laurent Paulhac will join the Company’s executive team as a Managing Director and CEO of ICAP SEF (US) LLC, reporting to Michael Spencer, ICAP’s Group Chief Executive Officer.
Based in New York, Laurent will be responsible for leading ICAP’s global SEF initiative as well as the SEF’s strategic direction with regard to new regulatory reforms and the Company’s alliances and partnerships with exchanges and CCPs. Laurent will also be involved in managing i-Swap in the U.S., ICAP’s award winning electronic trading platform for OTC interest rate derivatives.
Laurent joins from the CME Group where he was Senior Managing Director for Interest Rate and OTC Products and Services and was responsible for CME Group’s global interest rate and OTC business strategies. Prior to CME, he served as CEO of CMA, a provider of credit derivatives market data.
Laurent Paulhac said: "This is an extremely exciting time to be joining ICAP. As the market adapts to new regulatory requirements, SEFs will become a significant component of the wholesale financial market infrastructure. As a market leader in both electronic and voice broking ICAP is well positioned to benefit from these changes. I look forward to working with Michael and the management team to serve ICAP’s customers as our markets evolve."
John Nixon, Group Executive Director, Americas and Chairman and President of the ICAP SEF, said: "Laurent brings a wealth of relevant experience developing exchange-based businesses and in asset classes that are important to ICAP. I am thrilled he is joining us at this key stage in the evolution of our SEF."
Michael Spencer said: "We’re delighted to welcome Laurent to ICAP. With his knowledge and experience of the exchange and clearing arena he will be an excellent and complementary addition to our senior management team. His appointment underlines our commitment to our SEF business which will be an integral part of the new market landscape."
|Serra Balls ||ICAP Communications UK ||+44 (0)20 7050 7124 |
|Guy Taylor ||ICAP Communications US ||+1 212 341 9759 |
Laurent Paulhac has more than 20 years of derivatives industry experience. Most recently he was Senior Managing Director of Interest Rate and OTC Products & Services at CME Group Inc and has served as its Senior Managing Director OTC Products & Services since 2009. Mr. Paulhac was responsible for leading the development, execution and management of CME Group's global OTC business strategy as well as CME's market leading Interest Rate derivatives business globally.
Previously, he served as Chief Executive Officer of CMA since 2005, a leading provider of credit derivatives market data acquired by CME Group in 2008. Prior to joining CMA, he provided management consulting services to private equity groups and financial technology companies. In 1999, he founded Prescient Markets Inc., an electronic execution business focused on money market products in the U.S. In 2002, Prescient Markets was acquired by SunGard Data Systems, and Mr. Paulhac served as President of SunGard's STN Money Markets division until 2004.
Mr. Paulhac holds a bachelor's degree in Computer Science from Columbia University.
About the ICAP SEF
The ICAP SEF operates markets across multiple asset classes, including interest rate swaps (IRS), credit default swaps (CDS), equity derivatives, commodities and NDFs. ICAP offers trading in cleared and uncleared swaps and intends to operate central limit order books (CLOB) and request for quote (RFQ) systems, as well as offering block trade capabilities, electronic crossing and execution via brokers. Participants are able to access the ICAP SEF through ICAP trading applications and the platforms provided by independent software vendors or through the ICAP published application programming interface (API). Additionally, approved Intermediaries are able to provide their customers with access to the SEF, subject to its rules.
ICAP has created a Swap Execution Facility section on its website which provides more information about the ICAP SEF including FAQs about the SEF and contact information for the ICAP SEF team. For more information, please visit http://www.icap.com/sef.
ICAP is a leading markets operator and provider of post trade risk mitigation and information services. Group companies provide services that match buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. Through our post trade risk and information services we help our customers manage and mitigate risks in their portfolios. For more information, please go to www.icap.com.