German trading venue, Deutsche Börse Group, has tapped Ashwin Kumar as its newest Global Head of Product Development, according to a Deutsche Börse statement.

In this newly created role as its Global Head of Product Development, Mr. Kumar will be reporting as Managing Director, directly to Deutsche Börse’s CEO Carsten Kengeter. He will be tasked with researching a plethora of new products, whilst expanding the existing product suite. Moreover, he will focus on business opportunities by identifying demand from both sell-side and buy-side firms.

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Mr. Kumar joins from Meru Capital, having worked as its founding partner for the hedge fund dating back to 2009. He has also held senior level roles at Bank of America, Commerzbank Securities, CS First Boston and Citibank.

According to Mr. Kengeter in a recent statement on the appointment, “Ashwin Kumar will help us to better leverage the firm’s long value chain in close collaboration with our key customers. Given his successful career and his wide range of experience in the markets, he is able to discern both sell- and buy-side demand in our fast-evolving markets.”

Deutsche Börse recently reported its order book turnover across all asset classes in the month ending July 2015, which was underpinned by a lower figure of $150.6 billion (€137.3 billion). In particular, its order book turnover of $150.6 billion reported in July 2015 managed to orchestrate a fall of -17.1% MoM from $181.8 billion in June 2015.