Euronext Clearing, the central counterparty (CCP) owned by European stock exchange group Euronext, has appointed industry veteran Roberto Pecora as its CEO and Managing Director. Pecora has been CEO of Societe Generale Securities Services (SGSS), an Italian bank focused on securities services, for the past three and a half years.
Euronext said Thursday that the industry veteran, who spent more than two decades at Societe Generale, has been selected for the position by Euronext Clearing’s board of directors. The role is expected to resume on 3 July 2023.
Pecora brings Societe Generate’s multi-role experience to the new role in Rome. He will replace Marco Polito who has resigned as CEO of CCP’s Italian company, Cassa di Compensazione e Garanzia (CC&G), to pursue other professional projects. CC&G is also owned by Euronext.
As CEO, Pecora is tasked with running the day-to-day management of Euronext Clearing. It will also ensure that the multi-asset clearing arm is involved with regulators and clearing
clearing
Clearing is a general term that simply means many different things depending on the topic and the relevant industry. Most commonly, this refers to the mutual exchange between banks of checks and bills of exchange, and the settlement of spreads, or total claims settled in a clearinghouse. In finance and banking, the word clearing has different meanings depending on which business model is most specific. Transferring checks from the bank where they were deposited to the bank on which they were drawn. y
Clearing is a general term that simply means many different things depending on the topic and the relevant industry. Most commonly, this refers to the mutual exchange between banks of checks and bills of exchange, and the settlement of spreads, or total claims settled in a clearinghouse. In finance and banking, the word clearing has different meanings depending on which business model is most specific. Transferring checks from the bank where they were deposited to the bank on which they were drawn. y
Read this term members.
European expansion of Euronext Clearing Eyes
As CCP, Euronext Clearing provides clearing services for a wide range of financial instruments, incl Stock
Stock
Stocks can be described as shares or shares in a company that investors can buy or sell. When you buy a stock, you are essentially buying a stock, becoming a partial owner of shares in a particular company or fund, however, the shares do not pay a fixed rate of interest and therefore are not considered guaranteed income. As such, stock markets are often associated with risk, as when a company issues bonds, it is taking loans from buyers. When a company offers shares, on the other hand, it sells the percentage
Stocks can be described as shares or shares in a company that investors can buy or sell. When you buy a stock, you are essentially buying a stock, becoming a partial owner of shares in a particular company or fund, however, the shares do not pay a fixed rate of interest and therefore are not considered guaranteed income. As such, stock markets are often associated with risk, as when a company issues bonds, it is taking loans from buyers. When a company offers shares, on the other hand, it sells the percentage
Read this termfixed income, derivatives and commodities. The company was founded in 1992 by the Stock Exchange Italiana and the London Stock Exchange and has been part of Euronext since 2021.
However, Euronext is making efforts to expand Euronext Clearing to all of its markets and expects to begin offering Equity Clearing by the end of 2023 and Derivatives Clearing by the third quarter of 2024. Pecora is expected to be at the forefront of this expansion plan as a member. From the Post Trade Leadership Team headed by Anthony Attia, Global Head of Primary Markets and Post Trade at Euronext.
“With Euronext Clearing’s expansion progressing according to plan, by 2024 we will offer a unique post-trade platform in the European landscape,” Attia noted. “Across all Euronext locations, market participants will benefit from a streamlined, combined trading and clearing setup, taking advantage of Euronext Securities to effectively use potential T2S with an efficient cross-border settlement flow.”
Gate.io in Hong Kong; the new CFI office; Read snippets of today’s news.
Euronext Clearing, the central counterparty (CCP) owned by European stock exchange group Euronext, has appointed industry veteran Roberto Pecora as its CEO and Managing Director. Pecora has been CEO of Societe Generale Securities Services (SGSS), an Italian bank focused on securities services, for the past three and a half years.
Euronext said Thursday that the industry veteran, who spent more than two decades at Societe Generale, has been selected for the position by Euronext Clearing’s board of directors. The role is expected to resume on 3 July 2023.
Pecora brings Societe Generate’s multi-role experience to the new role in Rome. He will replace Marco Polito who has resigned as CEO of CCP’s Italian company, Cassa di Compensazione e Garanzia (CC&G), to pursue other professional projects. CC&G is also owned by Euronext.
As CEO, Pecora is tasked with running the day-to-day management of Euronext Clearing. It will also ensure that the multi-asset clearing arm is involved with regulators and clearing
clearing
Clearing is a general term that simply means many different things depending on the topic and the relevant industry. Most commonly, this refers to the mutual exchange between banks of checks and bills of exchange, and the settlement of spreads, or total claims settled in a clearinghouse. In finance and banking, the word clearing has different meanings depending on which business model is most specific. Transferring checks from the bank where they were deposited to the bank on which they were drawn. y
Clearing is a general term that simply means many different things depending on the topic and the relevant industry. Most commonly, this refers to the mutual exchange between banks of checks and bills of exchange, and the settlement of spreads, or total claims settled in a clearinghouse. In finance and banking, the word clearing has different meanings depending on which business model is most specific. Transferring checks from the bank where they were deposited to the bank on which they were drawn. y
Read this term members.
European expansion of Euronext Clearing Eyes
As CCP, Euronext Clearing provides clearing services for a wide range of financial instruments, incl Stock
Stock
Stocks can be described as shares or shares in a company that investors can buy or sell. When you buy a stock, you are essentially buying shares, becoming a partial owner of shares in a particular company or fund, however, the shares do not pay a fixed rate of interest and therefore are not considered guaranteed income. As such, stock markets are often associated with risk, as when a company issues bonds, it is taking loans from buyers. When a company offers shares, on the other hand, it sells the percentage
Stocks can be described as shares or shares in a company that investors can buy or sell. When you buy a stock, you are essentially buying shares, becoming a partial owner of shares in a particular company or fund, however, the shares do not pay a fixed rate of interest and therefore are not considered guaranteed income. As such, stock markets are often associated with risk, as when a company issues bonds, it is taking loans from buyers. When a company offers shares, on the other hand, it sells the percentage
Read this termfixed income, derivatives and commodities. The company was founded in 1992 by the Stock Exchange Italiana and the London Stock Exchange and has been part of Euronext since 2021.
However, Euronext is making efforts to expand Euronext Clearing to all of its markets and expects to begin offering Equity Clearing by the end of 2023 and Derivatives Clearing by the third quarter of 2024. Pecora is expected to be at the forefront of this expansion plan as a member. From the Post Trade Leadership Team headed by Anthony Attia, Global Head of Primary Markets and Post Trade at Euronext.
“With Euronext Clearing’s expansion progressing according to plan, by 2024 we will offer a unique post-trade platform in the European landscape,” Attia noted. “Across all Euronext locations, market participants will benefit from a streamlined, combined trading and clearing setup, taking advantage of Euronext Securities to effectively use potential T2S with an efficient cross-border settlement flow.”
Gate.io in Hong Kong; the new CFI office; Read snippets of today’s news.