NYSE Euronext (NYX) named Walter Lukken, a company executive and
former acting chairman of the Commodity Futures Trading Commission,
as chief executive of its planned joint venture with the Depository
Trust & Clearing Corp.
Lukken's appointment to lead New York Portfolio Clearing is
effective May 1. A July launch date is anticipated for the joint
venture that will clear cash Treasurys alongside related
derivatives products.
NYSE Euronext CEO Duncan Niederauer said, "Walt is the ideal
candidate to lead NYPC in opening the U.S. futures market to new
competition. Walt is a respected voice in this industry with a
unique and diverse set of experiences that will lend themselves
well to this project."
Lukken joined NYSE Euronext last summer as senior vice president
of global market structure, a new position at the time, amid the
exchange operator's push into derivatives markets. He has been
serving as senior vice president in the NYSE general counsel's
office and is on the board of NYSE Liffe in the U.S. and
London.
The CFTC, where Lukken served as a commissioner since 2002 and
acting chairman from June 2007 to January 2009, regulates U.S.
futures trading, which is dominated by CME Group Inc. (CME). Lukken
previously served as counsel to the Senate Agricultural Committee,
which oversees the CFTC.
Shares closed Tuesday at $32.31 and were inactive premarket. The
stock is up 28% this year, more than the broader market.
-By Tess Stynes, Dow Jones Newswires; 212-416-2481;
Tess.Stynes@dowjones.com