NYX Nyse Euronext

Alexander Broderick will take over as chief executive of New York Portfolio Clearing, the clearinghouse venture co-owned by NYSE Euronext (NYX) and the Depository Trust & Clearing Corp., filling a gap left by the departure of former regulator Walt Lukken.

Separately, FX Alliance Inc. (FX) hired Steve Rubinow, NYSE Euronext's chief information officer, to serve as the currency-trading platform's chief technology officer.

Broderick joined New York Portfolio Clearing from Societe Generale where he headed derivatives and bond trading denominated in British pounds sterling, according to a Monday announcement. He will shift from London to New York to head the NYPC effort launched last year in an effort to link processing of U.S. government bond trades with related derivatives business.

The clearing facility underpins an effort by NYSE Euronext to develop a franchise in U.S. interest-rate futures, for decades dominated by Chicago-based CME Group Inc. (CME). NYSE Euronext executives have said that the business is growing, though trading activity remains a small fraction of that done on CME's markets.

Broderick takes over leadership of NYPC following the departure of Walt Lukken, the former acting chairman of the Commodity Futures Trading Commission. Lukken in January left NYPC after about two years as CEO to head the Futures Industry Association, the derivatives industry's chief lobbying group in the U.S.

New York-based FXall hired NYSE Euronext's Rubinow after helping lead the exchange group's technology expansion, which has included building high-powered data centers in New York and London and the development of faster connections to key trading hubs around the world.

Until Friday Rubinow was chief information officer at NYSE Euronext for six years, and before that spent five years as chief technology officer for Archipelago Holdings Inc., an electronic market operator acquired by NYSE Euronext. Rubinow also helped oversee integration of exchange systems across NYSE's platforms and those of Euronext-Liffe, the Anglo-French exchange group that merged with NYSE in 2007.

Rubinow joins FXall about six weeks after the currency-trading provider's initial public offering on the NYSE. Shares have risen 10% to $15.26 since the company's debut.

 -By Jacob Bunge, Dow Jones Newswires; 312 750 4117; 
 jacob.bunge@dowjones.com 
 

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