LCH.Clearnet Appoints Michael Davie to Group COO

LCH.Clearnet, a London-based Clearing House Clearing House A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e Read this Term, has just appointed Michael Davie to the newly created position of Group Chief Operating Officer (COO), replacing Martin Pluves.

LCH.Clearnet has been relatively muted on the personnel front save for a couple of moves in the past few months in its SwapClear operations, including a new global head and Australian head.

In his new role as Group COO, Mr. Davie will be tasked with LCH’s worldwide product and developmental functions, fostering continued growth. Following the elevation of Mr. Davie to Group COO, Mr. Pluves will be assuming the role of Chief Executive Officer at LCH.Clearnet – both appointments are effective at the beginning of the New Year.