CENTRAL COUNTERPARTY ASSOCIATION CHANGES LEADERSHIP

Posted September 24, 2009

HONG KONG and FRANKFURT – The Global Association of Central Counterparties (CCP12), an association of the world’s major providers of central counterparty (CCP) clearing services, has elected a new Executive Committee and chairperson.

“The financial crisis has revealed the important role clearing houses play as they contribute to minimizing and managing global systemic risk,” says Marcus Zickwolff, the new Chairperson of CCP12, who is also Executive Director of Eurex Clearing AG. “In particular, central clearing and trading on exchanges have proven to remain very resilient throughout these challenging and turbulent times.”

The previous Chairperson, Anne T. Brown, Chief Risk Officer, Australian Securities Exchange Ltd. (ASX), will continue on the CCP12 Executive Committee, with new Vice-Chairs, Luis Jorge Pelayo, Risk Manager, S.D. Indeval and CCV; and Siddhartha Roy, Chief Risk Officer, Clearing Corporation of India Ltd.

“We have to establish a common voice of CCPs on a global scale in order to be able to make ourselves heard and to make an impact on discussions currently led by policy makers and regulators worldwide,” says Brown. “Discussions [will] open a unique window of opportunity for us to strengthen the role of clearing houses and especially of CCPs.”

CCP12 also admitted two new members: ICE Clear Europe and Mercado de Valores de Buenos Aires S.A. (Merval).