ICE Sees Two Senior Appointments to its US Futures and Clearing Business

Intercontinental Exchange (NYSE: ICE), an operator one of the largest groups of exchanges and clearing houses worldwide, has appointed two new Chief Operating Officers (COO) at its ICE Futures US and ICE Clear US operations, according to an ICE statement.

Per the new appointments, David Farrell, the group’s acting Senior Director, Global Soft Commodity Operations at ICE, has been elevated to the role of COO of ICE Futures US with immediate effect. In his new role he will reporting to Trabue Bland, President of ICE Futures US.

He originally joined ICE back in 2012, having since worked in a plethora of senior leadership roles across such channels as market supervision, product management, commodity operations, and soft commodities in both the US and Europe. Prior to joining Ice in 2012, Mr. Farrell also worked in a similar capacity at Kiodex, a unit of SunGard.

ICE has also appointed Hester Serafini as the newest member of its ICE Clear US team, who joins the group as its newest COO with immediate effect. She will be reporting to the President of ICE Clear US, Tom Hammond, and will be tasked with managing Clearing House Clearing House A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e Read this Term operations and leveraging regulatory changes for the group.

Ms. Serafini joined ICE Clear US from JPMorgan, where she headed the group’s over-the-counter (OTC) clearing and intermediation business for its foreign exchange (FX) and rates derivatives across Europe, the Middle East, and Africa (EMEA).

According to Jeff Sprecher, ICE Chairman and CEO, in a recent statement on the appointments: “These appointments support our ability to better serve our customers and to build on our growth strategy. Dave and Hester’s deep operational and Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term backgrounds, together with industry experience will position these businesses for continued growth by strengthening the service we provide.”