Chicago - Eris Exchange, a US-based futures exchange group offering cash-settled swap futures as an alternative to traditional OTC swaps, has announced the opening of a London office and the hiring of Timothy Stack as Managing Director, Head of Europe.
Mr. Stack will be based in London and will be responsible for sales, marketing and strategic partnerships in Europe. Prior to joining Eris, Mr. Stack worked at Barclays Investment Bank, where he most recently was Head of Agency Derivative Services, and was responsible for the global futures, OTC clearing and FX prime brokerage businesses. Previously, Mr. Stack also served as a board member of the Futures Industry Association.
Neal Brady, CEO of Eris Exchange said: "Given the recent capital requirements for holding uncleared swaps and the implementation of European swap clearing mandates and MiFID2, the timing is ideal for Eris to expand to Europe and to add to our management team."
Geoffrey Sharp joined Eris late last year as the Global Head of Sales, and is overseeing the expansion of the group's sales and marketing capabilities in London, New York and Chicago. Mr. Sharp previously held positions at Nomura, Barclays, Lehman Brothers and Credit Suisse.
In July, Mark Dziura joined Eris in Chicago to focus on sales to proprietary trading groups. Mr. Dziura was most recently with RTS Real Time Systems and Bloomberg.