TeraExchange appoints new head of Washington, D.C. Office

Marti Tirinnanzi, SVP of Business Development & head, TeraExchange, Washington

"I am excited to have a role implementing this critical component of the new central clearing model."

TeraExchange, an independent, transparent marketplace for swaps and other OTC cleared derivatives scheduled to launch in Q1, has appointed Marti Tirinnanzi as Senior Vice President of Business Development and head of the firm's Washington, D.C. office.

Named to Futures Magazine's "Top 25 Most Influential People of 2010", Ms. Tirinnanzi most recently served as Chairman of the Clearinghouse Working Group of the Federal Housing Finance Agency (FHFA), where she oversaw the project to move Fannie Mae's and Freddie Mac's $2 trillion in OTC interest rate swaps to clearing. Ms. Tirinnanzi has also worked with the U.S. Congress, the CFTC and other regulatory agencies in addressing the problems of the financial crisis of 2008 and was involved in helping draft legislation which became law in Title VII of the Dodd-Frank Act.

As a former industry regulator, Ms. Tirinnanzi has an in-depth understanding of the unique needs of the Government Sponsored Enterprises (GSEs) - particularly Fannie Mae and Freddie Mac and including the Federal Home Loan Banks and Farm Credit Banks - along with other market participants such as municipalities and corporations. These entities all will need to move to an electronically-executable, centrally-cleared environment in line with upcoming regulatory mandates, and TeraExchange's offerings will meet that demand.

"As a regulator, we helped create solutions addressing middle and back-office processes as well as FCMs and clearing firms but the one key element missing was a sophisticated execution platform. TeraExchange's technology effectively meets that need, and I am excited to have a role implementing this critical component of the new central clearing model," says Tirinnanzi.

Christian Martin, CEO of TeraExchange comments, "We are proud to have Marti join our team. She is an acknowledged derivatives expert who understands the evolving needs of this market and contributes the regulatory experience that is directly related toour mission of providing full pricing transparency to these markets."