EuroCCP appoints Cécile Nagel as CEO
Europe’s leading equities clearinghouse, today announces the appointment of Cécile Nagel as Chief Executive Officer.
Ms Nagel joins from the London Stock Exchange Group (LSEG) where she was most recently Head of LSE Markets Global Product Development and LSE Exchange Traded Products.
Ms Nagel joined LSEG in 2009 and has worked in a number of senior roles across the organisation including Head of Strategic Planning for the Group and Global Head of Equities and Commodities at LCH Group, LSEG’s multi-asset clearinghouse. Prior to LSEG, she worked at Oliver Wyman and the Financial Services Authority.
In November 2017, EuroCCP confirmed that Diana Chan, Ms Nagel’s predecessor, would hand over the management of the firm in the following year.
Jan Bart de Boer, chairman of EuroCCP’s supervisory board said: “We are delighted to have Cécile join as EuroCCP’s CEO. She is one of Europe’s leading market structure experts and is ideally placed to lead the business at a time when the equities market is expected to continue to transform as a result of regulatory change and the application of new technology.”
She joins a firm, created only 10 years ago, that has become one of the pre-eminent pan-European equities CCPs, with access to 26 venues including CBOE Europe, Euronext, the London Stock Exchange, Nasdaq and SIX Swiss Exchange.
Cécile Nagel said: “I am honoured to have been asked to lead EuroCCP. It is a major market infrastructure in Europe with a strong equities footprint and significant opportunities for growth. I look forward to working with my new colleagues to deliver the next stage of its development for the benefits of clearing members, trading venues and all stakeholders.”
Ms Nagel will start her role in September 2018.
Trade associations have asked for an extension of the temporary equivalence decision for UK CCPs.
Trading Technologies has partnered with Chinese clearing broker COFCO Futures.
Phase 5 of the uncleared margin rules (UMR) took effect from September 2021.
Temporary equivalence is set to expire on June 30 2022.
IRS trading volumes have fragmented without an equivalence agreement.