Clearinghouse EuroCCP Announces Cécile Nagel as CEO

Equities clearinghouse, European Central Counterparty N.V. (EuroCCP), announced on Thursday that it has appointed Cécile Nagel as Chief Executive Officer. Nagel joins the company from the London Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term Group (LSEG).

The appointment of Nagel follows the announcement in November last year that the current CEO, Diana Chan, would hand over the management of the firm in 2018. According to the statement, Nagel will commence her role in September 2018.

Nagel joins EuroCCP with a long history at LSEG

Nagel joins the 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 with more than a decade’s worth of experience in the finance industry. She joined LSEG in 2009 as Head of Strategic Planning and held the role for just over five years. In 2014, she then began working at LCH, LSEG’s multi-asset clearinghouse. Here she was Global Head of Equities and Commodities until 2017. Nagel’s most recent position at the exchange was Head of LSE Markets Global Product Development and LSE Exchange Traded Products.

Before LSEG Nagel also worked at Oliver Wyman, a management consultant firm. Before this, she was a Senior Associate at the Financial Conduct Authority, a British financial regulatory body. In this position, Nagel supervised the London Stock Exchange.

Commenting on her new role, 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.”

Jan Bart de Boer, chairman of EuroCCP’s supervisory board also added: “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.”

EuroCCP clears equities from 18 European markets. In the United States, it also clears Depositary Receipts as well as ETFs and Currency ETCs. EuroCCP currently clears for more than 26 venues, including CBOE Europe, Euronext, the London Stock Exchange, Nasdaq and SIX Swiss Exchange.