Intercontinental Exchange Appoints Stuart Williams President of ICE Europe

Intercontinental Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (NYSE:ICE), a global network of exchanges and Clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term houses, has announced the appointment of Stuart Williams as President of ICE Futures Europe and Timothy J. Bowler as President of ICE Benchmark Administration (IBA).

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These moves follow the retirement of David Peniket, who will be replaced by Williams, while Bowler will succeed Finbarr Hutcheson.

Willams has been the Chief Operating Officer of ICE Futures Europe since the middle of 2016. Before that he was the Director of Corporate Development. Before joining ICE, he was Director of Corporate Development at Euronext for a couple of years.

Bowler was Managing Director of of the Financial Institutions Group at Goldman Sachs. Before joining Goldman he worked for 4 years at the US Treasury.

Bowler will be overseeing the IBA, which is a subsidiary of ICE responsible for the ICE LIBOR, LBMA Gold Price and ICE Swap Rate benchmarks. The IBA could also be assuming responsibility for the LIBOR Silver Price from September 25.

Jeffrey C. Sprecher, Chairman and CEO, commented on the appointments: “We are pleased to announce these appointments, which will enable us to continue to build on our ability to grow and serve our customers. Stuart brings strong experience in derivatives and operations to lead our largest exchange and Europe’s leading energy and interest rate markets. Tim brings a wealth of experience in financial markets and policy to build on IBA’s strong foundation of modernized, regulated benchmarks.”

Sprecher continued: “Importantly, I want to thank David Peniket and Paul Swann and for their outstanding contributions to ICE. With their leadership, both ICE Futures Europe and ICE Clear Europe have become leading innovators in markets and clearing. I also want to thank Finbarr for building IBA into the leading administrator by reforming several of the world’s most important benchmarks. I look forward to working with Stuart, Tim and Finbarr in their new roles.”