CurveGlobal confirms Andrew Ross as CEO
- Andrew Ross will join from Morgan Stanley
- Brings deep understanding of listed and OTC markets, extensive buy and sell side engagement
- BNP Paribas becomes seventh bank shareholder of CurveGlobal
The CurveGlobal Limited Board today announces the appointment of Andrew Ross as CEO of CurveGlobal, the new interest rate derivatives venture between LSEG, seven major dealer banks and the Chicago Board Options Exchange. Since the announcement of CurveGlobal in October 2015, BNP Paribas has elected to join the venture which incorporated in the UK on 29th January 2016. The bank shareholder group now comprises Bank of America Merrill Lynch, Barclays, BNP Paribas, Citibank, Goldman Sachs, JP Morgan and Societe Generale.
Andrew will join CurveGlobal from Morgan Stanley where most recently he was Managing Director, Global Head of Agency listed derivative electronic execution and European Head of Clearing. In his more than 10 years at Morgan Stanley, Andrew also had roles as Head of CVA Trading in London and managed the European clearing team.
Michael Davie, Chairman, CurveGlobal Limited said:
“CurveGlobal’s success will be built on its ability to bring together a broad swathe of ETD and OTC market participants including the buy and sell sides, prop trading firms and market makers. It’s therefore vital that our Chief Executive has the depth of experience and relationship with each of these communities which is why I’m delighted that Andrew will be taking on the role. He brings unparalleled experience and an exceptional track record of successfully growing businesses within this very competitive industry.”
Andrew Ross, CEO, CurveGlobal Limited said:
“I’m delighted to be joining CurveGlobal, and cannot imagine a better time to be bringing efficiency and innovation to Rates markets. It will be a privilege to work with seven of the world’s major banks, CBOE, London Stock Exchange Group and LCH.Clearnet to realise the potential of a new venture designed by, and delivered for the market.”
Announced in October 2015, CurveGlobal plans to initially offer trading in Sterling and Euro denominated short and long term interest rate futures, with additional products introduced subsequently to meet the interests of market practitioners. All products designed and supported by CurveGlobal are intended to be admitted to trading on LSEG’s wholly owned subsidiary, London Stock Exchange plc’s, London Stock Exchange Derivatives Market, and cleared through LCH.Clearnet, subject to regulatory approvals and necessary licences.
CurveGlobal will offer competitive pricing and lower overall participant costs through efficient margining across the futures markets and between listed futures and OTC swaps. The launch of this unique venture will enhance London Stock Exchange Derivative Market’s product offering and leverage LCH.Clearnet’s recently announced interest rate portfolio margining service, LCH Spider.
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Notes to editors:
Andrew Ross – Summary of Experience
2015 – 2016 Morgan Stanley, Managing Director: Global head of Agency listed derivative electronic execution & European Head of clearing:
2010 – 2015 Morgan Stanley, Managing Director European Head of clearing
2008 – 2010 Morgan Stanley, Head of CVA trading, London
2006 – 2008 Morgan Stanley, CVA trading –risk manager
2004 – 2006 Morgan Stanley, Vice President, Operations, European Collateral Management & Middle Office Trade Support
2003 – 2004 Deutsche Bank, Information Technology, Client Reference Data project
1998 – 2003 Morgan Stanley, Business Analyst and Operations
Education: University of Edinburgh – BSc Ecology
About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) is a diversified international market infrastructure and capital markets business sitting at the heart of the world's financial community. The Group can trace its history back to 1698.
The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and Turquoise, a pan-European equities MTF. It is also home to one of the world’s leading growth markets for SMEs, AIM. Through its platforms, the Group offers international business and investors unrivalled access to Europe's capital markets.
Post trade and risk management services are a significant part of the Group’s business operations. In addition to majority ownership of multi-asset global CCP operator, LCH.Clearnet Group, LSEG operates CC&G, the Italian clearing house; Monte Titoli, the T2S-ready European settlement business; and globeSettle, the Group’s newly established CSD based in Luxembourg.
The Group is a global leader in indexing and analytic solutions. FTSE Russell offers thousands of indexes that measure and benchmark markets around the world. The Group also provides customers with an extensive range of real time and reference data products, including SEDOL, UnaVista, and RNS.
London Stock Exchange Group is a leading developer of high performance trading platforms and capital markets software for customers around the world. Currently, over 40 organisations and exchanges use the Group’s MillenniumIT trading, surveillance and post trade technology, including the Group’s own markets.
Headquartered in London, with significant operations in North America, Italy, France and Sri Lanka, the Group employs approximately 4,700 people.
Further information on London Stock Exchange Group can be found at www.lseg.com