ICAP Appoints Patrick Birley as CEO of Its ISDX Exchange

Publicly listed inter-dealer broker ICAP plc has issued a press release announcing an executive shakeup in the company’s ICAP Securities and Derivatives Exchange (ISDX). The new CEO of the unit will be Patrick Birley - a long-time industry veteran with a substantial amount of executive experience, who ran LCH.Clearnet before becoming CEO of the European Climate Exchange back in 2007.

Mr. Birley’s career started at the South African Futures Exchange (SAFEX), where he was the second employee. After spending 13 years as CEO, building it into one of the most active derivatives exchanges in the world, he led the sale of SAFEX to the Johannesburg Stock Exchange. He later became CEO 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 director at LCH.Clearnet where he spent just over a year before joining the European Climate Exchange.

He was indignant to environmentalists’ charges that 'dirty capitalists' should not be able to profit from trading carbon emissions throughout his three year position, moving on to his next role as senior adviser at the London Stock Exchange.

Mr. Birley will take over his next role at ICAP from Seth Johnson, who will be solely focusing on ICAP’s fixed income electronic trading platform - BrokerTec. Mr. Johnson commented on the new appointment, “ISDX has developed as a business since ICAP acquired the company in 2012. Having implemented robust new admissions criteria for ISDX last year, we are wholly focused on leveraging ICAP’s extensive expertise to build Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term and deliver value for clients and investors. Patrick has an impressive track record working across a range of exchanges and clearing houses and his experience will prove invaluable in taking ISDX forward.”

After taking a break from big business on the Isle of Wight, where he ran a craft brewery for about 8 months, according to his LinkedIn profile, Mr Birley will be returning to his familiar role of financial exchange executive starting from the 1st of April. He commented in the press release, “ISDX has great potential to play a key role in the evolving capital markets landscape. I am looking forward to working with the key stakeholders to continue to develop the ISDX strategy and to ensure we offer a credible environment for the successful listing and trading of equities and, potentially, other financial products.”

ICAP’s Securities & Derivatives Exchange has been providing markets for UK and international companies by granting them access to capital through its fully-listed and growth markets. Its division, dubbed ISDX Growth Market, has been the place to go for small and medium sized companies seeking to raise growth capital between £150,000 and £5 million.