Eurex Re-elects Carola Gräfin, Andreas Mitschke Heads Surveillance

Mitschke will be responsible for reversing the combined supervision of Xetra and Eurex.

The Exchange Council of Eurex Deutschland, who is responsible for the appointment, dismissal, and supervision of the management board, has re-elected Carola Gräfin von Schmettow, CEO of HSBC Germany, as chairperson and Lutz Johanning as Deputy Chairman.

The Eurex derivatives exchange has more than 400 companies from 18 countries eligible to vote. The Exchange Council, the highest controlling and supervisory body of the exchange, was elected for a term of three years.

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Five members were newly elected to the Exchange Council: Jonathan Aucamp of OSTC Ltd., Robbert Booij of ABN AMRO Clearing Bank N.V., Jörg Hessenmüller of Commerzbank AG and Hans-Dieter Kemler of Landesbank Hessen-Thüringen. They are tasked with the supervision of the exchange’s management, as well as determining Eurex rules, fees, regulations, and the exchange’s trading requirements.

Meanwhile, Eurex’s long-serving Andreas Mitschke has taken over as Head of the Trading Surveillance Office (TSO) of the Frankfurt Stock Exchange, and the derivatives exchange Eurex.

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Mitschke has been with the company for almost 20 years, and he succeeds Michael Zollweg, who left this position after more than two decades. One of the most interesting tasks that Mitschke will be responsible for is to reverse the combined supervision of Xetra and Eurex, two of the largest venues for the trading of equities and exchange-traded funds in Europe.

This may come after Deutsche Boerse’s platforms experienced disruptions due to technical problems over the last year. As such, the new head will work to ensure issues that impacted Xetra and Eurex don’t spill into the exchange’s main trading platform.

The move also comes at a time when Deutsche Boerse is battling to attract any clearing business that is forced out of London after the Brexit.

“Even then, we received electronic alerts through an in-house system, but we also responded to complaints from market participants. We are now working more proactively and are investigating whether these anomalies are due to manipulation, insider trading or breaches of regulations, for example. And the number of outside clues has dropped as a result,” Mitschke said.

The pan-European exchange has also made efforts over the past year to expand its FX trading business, most recently signing major banks to support their FX futures, from clearing to trading. Earlier in July, the company has partnered with European asset management firm Union Investment to trade FX on Eurex.

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