IntercontinentalExchange Group (NYSE:ICE), the leading global network of
exchanges and clearing houses, today announced management
appointments and the Board of Directors for its Singapore-based exchange
and clearing house, subject to regulatory approval.
ICE also announced that the Singapore Mercantile Exchange and Singapore
Mercantile Exchange Clearing Corporation will be renamed ICE Futures
Singapore and ICE Clear Singapore in the coming week.
ICE Futures Singapore and ICE Clear Singapore will be headed by Lucas
Schmeddes, as President and Chief Operating Officer. Schmeddes was
previously Chief Operating Officer of ICE Endex in the Netherlands.
Jennifer Ilkiw will be Vice President, ICE for the Asia Pacific region.
The following directors will serve on the boards of ICE Futures
Singapore and ICE Clear Singapore: Jeffrey C. Sprecher, Chairman and
CEO, ICE; David S. Goone, Chief Strategy Officer, ICE; Vijay Iyengar,
Founder and Managing Director of Agrocorp International Pte Ltd; Tan Soo
Nan, CEO, Singapore Pools (Private) Limited and Ang Swee Tian, former
President of the Singapore Exchange Ltd.
The exchange and clearing house are expected to transition to the ICE
trading and clearing platforms in the second half of 2014. As a result,
a period of business transition is currently in place and the existing
SMX market has been closed while ICE implements market and technology
changes in consultation with market participants, clearing members and
regulators.
ICE Futures Singapore and ICE Clear Singapore are based in Singapore and
are wholly-owned subsidiaries of ICE, operating as separate regulated
bodies.
Notes to Editors
Vijay Iyengar
Vijay Iyengar is the Founder and Managing Director of Agrocorp
International Pte Ltd, a Singapore based International Commodity Trading
and Distribution House with a footprint across the globe.
Armed with a management style of being open, accessible and inclusive,
Mr Vijay has steered the company in less than two decades into a trading
powerhouse in the Asia- Pacific region. The Company specializes in the
physical trading of Agricultural Commodities such as Wheat, Rice, Pulses
& Beans, Sugar, Cotton and Oil Seeds. The company today has an annual
turnover of around USD1.5 billion and clients in India, Bangladesh,
Pakistan, Sri Lanka, Indonesia, Vietnam, Malaysia, China, Philippines
and various countries in the Middle East and Africa. Mr Vijay holds a B
Tech (Chemical Engineering) from the prestigious Indian Institute of
Technology (IIT - Mumbai) and an MBA from Cornell University.
Tan Soo Nan
Mr Tan Soo Nan is the Chief Executive Officer of Singapore Pools
(Private) Limited, a wholly owned subsidiary of Singapore Totalisator
Board. He is the Chairman of the Asia-Pacific Lottery Association
(“APLA”) and a member of the Executive Committee of APLA and World
Lottery Association. Mr Tan serves on the board of private and public
listed companies including Raffles Medical Group Ltd, Singapore
Mercantile Exchange Pte Ltd and Osim International Ltd. He also sits on
several not for profit committees including holding the post of
Vice-President of the Football Association of Singapore. Mr Tan was
formerly the Chief Executive of Singapore Totalisator Board, Chief
Executive Officer of Temasek Capital (Private) Limited and Senior
Managing Director of DBS Bank and had over 29 years of experience in the
banking industry.
Ang Swee Tian
Mr Ang Swee Tian is the Non-Executive Chairman of Singapore Mercantile
Exchange Pte Ltd and an Independent, Non-Executive Director of two
public listed companies, Cosco Corporation (Singapore) Limited and China
Aviation Oil (Singapore) Corporation Limited. Mr Ang was the President
of the Singapore Exchange Ltd (“SGX”) from 1999 to 2005 during which he
played an active role in successfully promoting SGX as a preferred
listing and capital raising venue for Chinese enterprises. Mr Ang also
played a pivotal role in establishing Asia’s first financial futures
exchange, the Singapore International Monetary Exchange (“SIMEX”) in
Singapore in 1984 and was instrumental to establishing SGX AsiaClear
which started offering OTC clearing facility in 2006. Following his
retirement in January 2006, Mr Ang took on a new role as Senior Adviser
to SGX until December 2007. In March 2007, Mr Ang became the first
person from an Asian Exchange to be inducted into the Futures Industry
Association’s Futures Hall of Fame, which was established to honour and
recognise outstanding individuals for their contributions to the futures
and options industry. Mr Ang graduated from Nanyang University of
Singapore with a First-Class Honours Degree in Accountancy in 1970. He
was conferred a Master Degree in Business Administration with
distinction by the Northwestern University in 1973.
About IntercontinentalExchange Group
IntercontinentalExchange Group (NYSE: ICE) is the leading network of
regulated exchanges and clearing houses for financial and commodity
markets. ICE delivers transparent, reliable and accessible data,
technology and risk management services to markets around the world
through its portfolio of exchanges, including the New York Stock
Exchange, ICE Futures, Liffe and Euronext.
Trademarks of ICE and/or its affiliates include
IntercontinentalExchange, ICE, ICE block design, NYSE Euronext, NYSE,
New York Stock Exchange, LIFFE and Euronext. Information regarding
additional trademarks and intellectual property rights of
IntercontinentalExchange Group, Inc. and/or its affiliates is located at https://www.theice.com/terms.jhtml
and http://www.nyx.com/terms-use.
ICE Safe Harbour Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995 - Statements in this press release regarding ICE's business that
are not historical facts are "forward-looking statements" that involve
risks and uncertainties. For a discussion of additional risks and
uncertainties, which could cause actual results to differ from those
contained in the forward-looking statements, see ICE's Securities and
Exchange Commission (SEC) filings, including, but not limited to, the
risk factors in ICE's Annual Report on Form 10-K for the year ended
December 31, 2013, as filed with the SEC on February 14, 2014.
SOURCE IntercontinentalExchange
ICE-CORP
Copyright Business Wire 2014