The European Association of CCP Clearing Houses (EACH) has announced the election of Marcus Zickwolff, head of trading and system clearing design at Eurex Clearing, as chair for a two-year term. He replaces two-term chair Rory Cunningham of LCH.Clearnet, though Cunningham will continue as a member of the executive board.
EACH also announced its support of the European Market Infrastructure Regulation (EMIR)and expressed its encouragement of "the use of standardised products and services and support [of] all measures to improve the safety, integrity and efficiency of financial markets".
“CCPs are key to the future market structure, which in Europe, will be shaped by EMIR, MiFID II and CRDIV. EACH will continue to contribute to the integrity and the stability of the global financial system. Therefore it will closely work together with public authorities as well as the financial industry to achieve safe and efficient financial markets by consistent regulation,” Zickwolff said.
Re-elected to the executive committee were, Bhagwant Singh of EuroCCP and Marco Polito of CC&G. Newly elected to the executive committee was Ignacio Solloa of MEFF and Ann Flodström of SIX x-clear was elected treasurer.
