Just one week after restructuring multiple segments of its business, GMEX Exchange, a provider of multi-asset exchange and post trade technology, has opted to rebrand itself as London Derivatives Exchange (LDX) Group, per an LDX statement.
Last week, GMEX restructured its group by separating its exchange and technology businesses. Forum Trading Solutions, previously a minority stakeholder in GMEX Group, also acquired 100% of GMEX Technologies, including all clients and GMEX name related trademarks.
Per the changes, GMEX Tech and Forum businesses also merged operations, which also will continue to provide multi-asset exchange and post trade business services and technology covering all the market infrastructure value chain.
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The new rebranding will also see incorporate London Derivatives Exchange Limited and Global Derivatives Indices Limited (GDI) – the primary impetus behind the new structure will be to help allow the group to support a wider band of products, whilst better adapting to a more dynamic marketplace.
As a result of the changes, LDX Group will also be seeing a new management structure. The man tasked with leading the group will be Vj Angelo, who was appointed as its CEO. James Davies was elevated to the role of COO.
According to Mr. Angelo in a recent statement on the rebranding and structure: “This is an exciting time for the company. The new structure marks the next phase of development, which will enable our highly skilled team to work with our clients in developing solutions to address the rapidly changing economic and trading landscape.”
“With the Interest Rate Swap Constant Maturity Future we have begun the process. LDX is now planning to introduce a number of new approaches to augment the IRS CMF in a variety of asset classes. Our aim is to work with our clients and the market place as a whole to resolve some of the many issues brought about by regulatory change and the current economic conditions,” he added.
“In LDX we have the people and the products to make a real difference to how markets trade and clients interact with each other. Our CMF product demonstrates a thoughtful approach to the needs of a broad range of clients when creating solutions for the new regulatory environment. The LDX team can now look to expand and strengthen the adoption of the CMF and other products to meet client needs now and in the future,” explained Sandy Broderick, the Non-Executive Chairman of LDX.