Former LME regulatory head joins Nymex Europe

Alan Whiting, formerly in charge of regulation at the London Metals Exchange (LME), has joined Nymex Europe as a non-executive director.

At the LME, Whiting was executive director of regulation and compliance, responsible for overseeing trading in commodities and derivatives on the exchange. Previously, he was director of financial regulation at the Treasury and chief economic advisor to the Department of Trade and Industry. He left the LME in 2004 to set up Merlan Financial, a consultancy specialising in financial regulatory issues.

Nymex chief executive Samuel Gaer said: "We are pleased to have Alan on board as our first independent non-executive director. His knowledge of the financial markets and regulatory processes will be a tremendous benefit to the Exchange as it grows in Europe."

Nymex Europe's interim chief compliance officer is John Mackeonis, appointed last month. The exchange is currently seeking recongnition as an investment exchange from the UK Financial Services Authority, which would allow it to open operations in London.