The European Trade Repository, REGIS-TR, announced today that as of July 1, 2018, it has appointed new members to its Board of Directors. Philip Brown is the new chairman of the Board, and Jesús Benito is the new Vice-Chairman. In addition, Maurice Lamy and Francisco Nicolás join the Board of Directors.
REGIS-TR is jointly run by Deutsche Börse’s subsidiary Clearstream and Iberclear. Brown, who has been a member of the board since the inception of the European repository, succeeds Jeffrey Tessler. Brown is the DBAG Segment Head for Clearstream.
Commenting on his new role, Brown said: “I am delighted to assume the role of Chairman of REGIS-TR and am looking forward to further building on our position as the pre-eminent European market infrastructure for regulatory reporting, particularly for the imminent Securities Finance reporting obligations.”
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Benito has also been a member of the REGIS-TR Board of Directors since its inception. He is the CEO of Iberclear and Member of the Management Committee of Bolsas y Mercados Españoles (BME). BME is the Spanish company that organizes the Spanish stock exchanges and financial markets. Benito has had extensive experience in the financial industry. In 1998 he joined the Bank of Spain as the Head of System of Payments and Securities. Since then, he has held numerous positions in finance.
New additions to REGIS-TR’s Board of Directors
Aside from Brown and Benito, Lamy is also joining the Board of Directors. He is the current Head of Department for Application Development Custody & Settlement at Clearstream services. Nicolás, on the other hand, is the Director of Technology of BME. BME includes the stock exchanges in Madrid, Barcelona, Bilbao, and Valencia.
A repository is an entity that centrally collects and maintains the records of over-the-counter (OTC) derivatives. REGIS-TR collects trades and transactions across multiple product classes and jurisdictions. Earlier this year, it became the Trade Repository for Clearstream and Eurex. The Repository provides both companies with report service solutions for Securities Finance Transaction Regulation (SFTR) requirements.