LCH Installs John Horkan as its Chief Operating Officer
- Horkan takes on the role in addition to his current responsibilities as LCH Head of SwapClear in North America.
Global 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 LCH has announced its latest senior move, appointing John Horkan as the Chief Operating Officer (COO), effective immediately. He replaces Daniel Maguire who was promoted last week to LCH Group’s CEO.
Horkan takes on the role in addition to his current responsibilities as LCH Head of SwapClear in North America, a role he has held for nearly six years. In his new position, John will be reporting to the recently promoted CEO Daniel Maguire.
As LCH’s COO, Mr. Horkan will be responsible for achieving new business growth, maintaining customer relationships and driving innovation and efficiency. He is also charged with developing an integrated global product strategy, working alongside the CEOs of the the group’s various central counterparties, and with the group’s chief risk officer.
Mr. Horkan originally joined LCH back in 2012, following a nearly two-decade tenure with Bank of America Merrill Lynch and J.P. Morgan where he served in several roles including Regulatory Reform Program Manager for Global Banking & Markets, COO of Global Markets Sales and Corporate Bond Sales.
His appointment completes a reshuffling of LCH’s senior management team since the LSE agreed terms with minority shareholders for increasing its controlling stake in the clearer. The deal was viewed as central to the LSE’s efforts to diversify and capitalise upon new regulatory rules although many OTC markets participants have concerns that they may be forced to incur higher costs when executing and clearing their transactions at the same venue.
LCH is the world’s largest clearing house for interest rate swaps, which makes up the majority of all off-exchange trading.
Commenting on the appointment, Daniel Maguire, CEO of LCH Group, said: “I am delighted to confirm John’s appointment as LCH Group’s new Chief Operating Officer. As LCH North America Head, John has played a pivotal role in enhancing relationships with our expanding US-customer base. In his new role, he will oversee the Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term of our strategy including driving operational efficiency programmes as we continue to grow the Group’s global business.”
Global 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 LCH has announced its latest senior move, appointing John Horkan as the Chief Operating Officer (COO), effective immediately. He replaces Daniel Maguire who was promoted last week to LCH Group’s CEO.
Horkan takes on the role in addition to his current responsibilities as LCH Head of SwapClear in North America, a role he has held for nearly six years. In his new position, John will be reporting to the recently promoted CEO Daniel Maguire.
As LCH’s COO, Mr. Horkan will be responsible for achieving new business growth, maintaining customer relationships and driving innovation and efficiency. He is also charged with developing an integrated global product strategy, working alongside the CEOs of the the group’s various central counterparties, and with the group’s chief risk officer.
Mr. Horkan originally joined LCH back in 2012, following a nearly two-decade tenure with Bank of America Merrill Lynch and J.P. Morgan where he served in several roles including Regulatory Reform Program Manager for Global Banking & Markets, COO of Global Markets Sales and Corporate Bond Sales.
His appointment completes a reshuffling of LCH’s senior management team since the LSE agreed terms with minority shareholders for increasing its controlling stake in the clearer. The deal was viewed as central to the LSE’s efforts to diversify and capitalise upon new regulatory rules although many OTC markets participants have concerns that they may be forced to incur higher costs when executing and clearing their transactions at the same venue.
LCH is the world’s largest clearing house for interest rate swaps, which makes up the majority of all off-exchange trading.
Commenting on the appointment, Daniel Maguire, CEO of LCH Group, said: “I am delighted to confirm John’s appointment as LCH Group’s new Chief Operating Officer. As LCH North America Head, John has played a pivotal role in enhancing relationships with our expanding US-customer base. In his new role, he will oversee the Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term of our strategy including driving operational efficiency programmes as we continue to grow the Group’s global business.”