Eurex boosts new US exchange plans with ex-Goldman Sachs hire

European derivatives exchange, Eurex, has hired Michael McErlean to join the the Swiss-German exchange's US management team in preparation for the launch of a registered US exchange.

McErlean, previously global co-head of futures services at Goldman Sachs, will be based in Chicago. A former board member of the London International Financial Futures and Options Exchange and the Singapore International Monetary Exchange, McErlean has worked as a board member of BrokerTec Clearing Corporation since 2001. He has also headed the Futures Industry Association in the UK since 2002, and has sat on the executive board of the Futures and Options Association since 2001. He has served on numerous other international industry associations and committees.

Eurex unveiled plans to launch a new US exchange in January - a move that will see it compete directly with the Chicago Board of Trade. It plans to offer a full range of derivatives on US interest rates, indexes and equities from early next year.