CCP12 Elects New Chair, Vice-Chairs And Executive Committee

Press Release

The members of CCP12 – the Global Association of Central Counterparties (the Association) elected a new Chair, 2 Vice-Chairs and 9 ordinary Executive Committee members at its Annual General Meeting (AGM) on May, 4th 2011. The world’s major providers of central counterparty (CCP) services held their 2011 AGM in Mumbai, hosted by CCIL (The Clearing Corporation of India Ltd ) and NSCCL (National Securities Clearing Corporation Limited).

Elected office-bearers of the Association (who also serve on the Executive Committee): Chair: Luis Jorge Pelayo, Indeval (Mexico); Vice-Chair: Siddharta Roy, CCIL (India); Vice-Chair: Marcus Zickwolff, Eurex Group (Germany)

Elected ordinary Executive Committee members: Rory Cunningham, LCH.Clearnet (UK); Takeshi Hirano, JSCC/TSE (Japan); Paul Jones, ASX (Australia); Kevin King, HKEx (Hong Kong); Dale Michaels, CME (USA); Johan Rudén, NASDAQ OMX (Sweden); Andrew Simpson, DTCC (USA); Luis Vicente, BM&F Bovespa (Brazil); and Mike Walinskas, OCC (USA).

CCP12 serves as a global association for all CCPs and works collaboratively in information sharing, development of analysis and position papers, and promoting the development and adoption of best practice standards in CCP risk management and operational activities.

CCP12 is currently examining several proposed changes to the international regulatory oversight of CCPs and treatment of exposures to CCPs. In particular, CCP12 is actively reviewing the current draft of the CPSS-IOSCO Principles for Financial Market Infrastructures with a view to submitting a response on behalf of the Association.

About CCP12
CCP12, a global organisation formed in 2001, has been working to further the industry’s dialogue on the adoption of best clearing and risk management practices, and support strategic progress on regulatory harmonisation and the enhancement of global standards. The group frequently invites regulators and representatives from other clearing and settlement organisations, exchanges and marketplaces, financial firms and other industry associations around the world to join its meetings to foster dialogue on issues of mutual interest and concern. With its membership having expanded to 28 Member organisations encompassing over 35 CCPs operating across Africa, the Americas, Asia, Australia and Europe, CCP12 has been meeting at least bi-annually, as well as working in smaller teams to advance risk management awareness and analyse industry and regulatory developments.