SGSS’ Roberto Pecora to Run Euronext Clearing as CEO

SGSS’ Roberto Pecora to Run Euronext Clearing as CEO

Time Stamp: May 25, 2023 5:31 PM
Source Node: 2676809

Euronext Clearing, a central counterparty (CCP) owned by pan-European exchange stock exchange group Euronext has appointed industry veteran Roberto Pecora as its Chief Executive Officer and General Manager. Pecora has been serving as the CEO of Societe Generale Securities Services (SGSS), a securities services-focused Italian bank, in the last three and a half years.

The industry veteran, who spent over two decades at Societe Generale, was selected for the role by the Board of Director of Euronext Clearing, Euronext said on Thursday. He is expected to resume the role on July 3, 2023.

Pecora brings multiple-role experience from Societe Generate to the new Rome-based role. He is to replace Marco Polito who stepped down from his position as CEO of Italian CCP, Cassa di Compensazione e Garanzia (CC&G), to pursue other professional projects. CC&G is also owned by Euronext.

As CEO, Pecora is charged with running the day-to-day management of Euronext Clearing. He is also to see to the multi-asset clearing arm's engagement with regulators and clearing members.

Euronext Clearing Eyes European Expansion

As a CCP, Euronext Clearing offers clearing services for a wide range of financial instruments, including equities , fixed income, derivatives, and commodities. The firm was founded in 1992 by Borsa Italiana and the London Stock Exchange and has been a part of Euronext since 2021.

However, Euronext is making efforts to expand Euronext Clearing to all its markets and expects to start offering equity clearing by the end of 2023 and derivative clearing by third quarter of 2024. Pecora is expected to be at the forefront of this expansion plan as a member of the Post Trade Leadership Team headed by Anthony Attia, Euronext’s Global Head of Primary Markets & Post Trade of Euronext.

“As Euronext Clearing expansion is progressing according to plan, by 2024 we will offer a unique post trade platform in the European landscape,” Attia noted. “Across all Euronext venues, market participants will benefit from a simplified and common trading and clearing setup, leveraging Euronext Securities to effectively use the full potential T2S with an efficient cross border settlement flow.”

Gate.io in Hong Kong; CFI's new office; read today's news nuggets.

Euronext Clearing, a central counterparty (CCP) owned by pan-European exchange stock exchange group Euronext has appointed industry veteran Roberto Pecora as its Chief Executive Officer and General Manager. Pecora has been serving as the CEO of Societe Generale Securities Services (SGSS), a securities services-focused Italian bank, in the last three and a half years.

The industry veteran, who spent over two decades at Societe Generale, was selected for the role by the Board of Director of Euronext Clearing, Euronext said on Thursday. He is expected to resume the role on July 3, 2023.

Pecora brings multiple-role experience from Societe Generate to the new Rome-based role. He is to replace Marco Polito who stepped down from his position as CEO of Italian CCP, Cassa di Compensazione e Garanzia (CC&G), to pursue other professional projects. CC&G is also owned by Euronext.

As CEO, Pecora is charged with running the day-to-day management of Euronext Clearing. He is also to see to the multi-asset clearing arm's engagement with regulators and clearing members.

Euronext Clearing Eyes European Expansion

As a CCP, Euronext Clearing offers clearing services for a wide range of financial instruments, including equities , fixed income, derivatives, and commodities. The firm was founded in 1992 by Borsa Italiana and the London Stock Exchange and has been a part of Euronext since 2021.

However, Euronext is making efforts to expand Euronext Clearing to all its markets and expects to start offering equity clearing by the end of 2023 and derivative clearing by third quarter of 2024. Pecora is expected to be at the forefront of this expansion plan as a member of the Post Trade Leadership Team headed by Anthony Attia, Euronext’s Global Head of Primary Markets & Post Trade of Euronext.

“As Euronext Clearing expansion is progressing according to plan, by 2024 we will offer a unique post trade platform in the European landscape,” Attia noted. “Across all Euronext venues, market participants will benefit from a simplified and common trading and clearing setup, leveraging Euronext Securities to effectively use the full potential T2S with an efficient cross border settlement flow.”

Gate.io in Hong Kong; CFI's new office; read today's news nuggets.

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