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As part of the move, ISDA is expanding the central counterparty (CCP) representation on its Board to two, and has appointed Daniel Maguire, Chief Executive Officer of LCH Group. Mr. Maguire joins Kevin McClear, Corporate Risk Officer at the Intercontinental Exchange, Inc., who joined the Board last year. Each CCP will serve for a two-year term, on a revolving basis.
The other three elected directors represent different areas of the derivatives business, and are based in three geographical locations. The new directors are:
“I’d like to welcome Amagi-san, Marc, Daniel and Jacques to the Board. They each bring unique skills and insight to the Board, reflecting their experiences in different parts of the derivatives business. I’m sure they will make an important contribution to ISDA’s work to foster safe and efficient markets,” said Eric Litvack, ISDA Chairman.
“ISDA’s Board continues to expand in terms of its regional and business diversity, and our organization will benefit from the different perspectives our new Board members bring. ISDA is now well positioned to represent all parts of the derivatives market, whether cleared or non-cleared, bilateral or on-venue, or buy side or sell side,” said Scott O’Malia, ISDA’s Chief Executive.