LSE appoints Stuchfield to head equity derivatives business

The London Stock Exchange (LSE) has appointed Nic Stuchfield as managing director of EDX London, the LSE-controlled derivatives exchange in which Sweden's OM holds a minority stake.

Stuchfield, who reports to the LSE's chief executive, Clara Furse, will be responsible for developing EDX London's equity derivatives business, which currently only trades Scandinavian equity derivatives.

Stuchfield will join the LSE on Monday. He was previously chief executive at UK electronic exchange Tradepoint, which subsequently merged with the Swiss Exchange, SWX, to form pan-European exchange Virt-X.

The LSE said it was planning to start a clearing and trade confirmation service targeting the OTC equity derivatives market. But it declined to offer further details.