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Management Team
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| BOARD OF DIRECTORS |
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Mr. Ang Swee Tian
Chairman
sweetian.ang@smx.com.sg |
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| Former President of Singapore Exchange (SGX) |
| Established SGX AsiaClear |
| First Asian exchange official in FIA's Futures Hall of Fame |
| Successfully managed merger of SIMEX with SES to form SGX |
| Served in Monetary Authority of Singapore |
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Mr. Ang Swee Tian has an illustrious career that includes the position of CEO of
the erstwhile Singapore International Monetary Exchange (SIMEX), which he helped
establish in 1984. His career covers the successful merger of SIMEX with the Stock
Exchange of Singapore (SES) to form the Singapore Exchange (SGX). From 1999 to 2005,
Mr. Ang Swee Tian was President of SGX, which he moulded into a preferred listing
and capital-raising venue for Chinese enterprises. He was also instrumental in establishing
SGX AsiaClear, the OTC clearing facility that started operations in 2006. At the
end of his term as President, Mr. Ang Swee Tian took on a new role as Senior Advisor
to SGX until the end of 2007. Prior to his distinguished career at SGX, Mr. Ang
Swee Tian served in several departments of the Monetary Authority of Singapore (MAS).
In March 2007, Mr. Ang Swee Tian became the first official from an Asian exchange
to be inducted into the Futures Industry Association (FIA) Futures Hall of Fame,
which was established to recognize and honor outstanding individuals for their contribution
to the futures and options industry.
As the Chairman of the board of SMX, Mr. Ang Swee Tian's experience, exposure and
expertise will help mould the new Exchange to the helm of Asian finance and enable
it to play a useful role in strengthening Singapore as the financial and trading
hub of not only the continent, but of the world. |
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Mr. Jignesh Shah
Vice Chairman, SMX
jignesh.shah@smx.com.sg |
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Innovator of modern financial markets in emerging economies |
| Ernst & Young Business Transformation award |
| Bringing markets to the masses |
| Passion for corporate social responsibility |
| Founder of Multi Commodity Exchange of India (MCX), Dubai Gold and Commodities Exchange
(DGCX), Global Board of Trade (GBOT), Indian Energy Exchange (IEX), Singapore Mercantile
Exchange (SMX), and several other leading global financial exchanges |
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Mr. Jignesh Shah is the founder, chairman, and group CEO of the Financial Technologies
group, a US$ 1.8 billion conglomerate and a global leader in creating and operating
technology-centric financial exchanges for stocks, commodities, currency, and bonds
among other asset classes.
Mr. Shah is often credited as a 'creator of modern financial markets' for his role
in creating a successful public-private partnership (PPP) model for building world-class
financial institutions in emerging economies. He founded Multi Commodity Exchange
of India Ltd (MCX) in 2003 to create 'markets for the masses'. MCX is India's No.
1 commodity exchange and the 8th largest in the world. The global exchanges he has
founded include the Dubai Gold and Commodities Exchange (DGCX) in association with
the Government of Dubai, Global Board of Trade (GBOT) in Mauritius, and Singapore
Mercantile Exchange (SMX) among others.
MCX's success in driving inclusive growth has inspired several countries and government
entities to partner with Financial Technologies to set up new exchanges. He is a
recipient of the 'Ernst & Young Entrepreneur of the Year' award for Business
Transformation. He has also been chosen by the World Economic Forum (WEF), Geneva,
as the 'Young Global Leader' and has been presented with the 'Global Social Entrepreneur1
award by Rotary International.
Mr. Shah is deeply passionate about the role of markets in corporate social responsibility
activities. He has launched initiatives in association with India Post' to provide
commodity information to Indian farmers for price transparency and risk hedging,
and with Rotary International to empower economically-challenged communities with
education and training.
As Vice-Chairman of Singapore Mercantile Exchange (SMX), Mr. Shah brings his entrepreneurial
flair that will contribute to the growth of the Exchange. His view of Singapore
is that of a country whose financial markets will be the 'epicenter of trade' from
Asia with the world.
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Mr. Thomas J. McMahon
Chief Executive Officer |
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| Former, Director of NYMEX Asia |
| In launching NYMEX Asia, Mr. McMahon brought the established Energy and Metals contracts of the exchange to the Asian business community |
| Established good working relationships with the various regional regulatory agencies including the SFC, CSRC, MAS, METI, MOF, FMC and DFSA |
| Served as Vice Chairman of the Petroleum Advisory Committee at NYMEX, prior to the launch of the gasoline futures contract |
| Elected onto the NYMEX board of directors |
| Served as Chairman of Natural Gas Advisory and Petroleum Delivery Committee leading up to the launch of the natural gas futures contract |
| Over 25 years of industry experience in derivatives and commodities across Asia and USA |
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Mr Thomas J. McMahon is Chief Executive Officer of Singapore Mercantile Exchange. Mr. McMahon brings with him over 25 years of industry experience in derivatives and commodities across Asia and USA. Formerly, he was the Director of NYMEX Asia.
Mr. McMahon joined NYMEX as Director of Asia after acting as an advisor to the Exchange in its agreement to link NYMEX ACCESS® with the Tokyo Commodity Exchange in 2004. In launching NYMEX Asia, Mr. McMahon brought the established Energy and Metals contracts of the exchange to the Asian business community and instituted a development program for Asia region specific contracts. In September 2005 NYMEX launched Singapore 180 fuel oil swap. This was followed by a 380 bunker swap and the East West Swap, tying the European refiners market to Southeast Asia. In the course of launching the new products Mr. McMahon established good working relationships with the various regional regulatory agencies including the SFC, CSRC, MAS, METI, MOF, FMC and DFSA.
From 1993 to 2003, Mr. McMahon was an owner-operator of Gaslink.Com, focusing on the order execution of natural gas futures and options contracts. He began his career as a member of the New York Cotton Exchange and the New York Coffee, Sugar and Cocoa Exchange which is now a part of the IntercontinentalExchange.
He became a member of NYMEX in 1982. In 1984, he served as Vice Chairman of the Petroleum Advisory Committee, prior to the launch of the gasoline futures contract. Mr. McMahon was elected onto the NYMEX board of directors in 1987 and served as Chairman of Natural Gas Advisory and Petroleum Delivery Committee leading up to the launch of the natural gas futures contract. |
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Mr. Tan Soo Nan
Director |
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| Former Senior Managing Director of DBS Bank |
| Former CEO of Temasek Capital responsible for direct private equity investments |
| Member of Income Tax Board of Review & Goods and Services Tax Board of Review |
| Executive Committee member of the Asia Pacific Lottery Association and Vice-President of the Football Association of the Singapore Council |
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Mr. Tan Soo Nan is the Chief Executive Officer of Singapore Pools (Private) Limited, a subsidiary of the Singapore Totalisator Board, a statutory board under the Ministry of Finance and concurrently the Chief Executive of the Singapore Totalisator Board.
Previously, Mr Tan was the CEO of Temasek Capital (Private) Limited responsible for direct private equity investments, for Temasek Holdings.
Prior to Temasek Capital, Mr Tan was the Senior Managing Director of DBS Bank, where he was in charge of institutional, individual and enterprise banking and the private client group businesses of DBS Bank. He was also a member of the bank’s Policy Committee, the bank’s highest communications and decision-making forum. In his 29 years with DBS Bank, his career spanned the entire spectrum of commercial banking, investment banking, asset management and venture capital.
Mr. Tan is a member of the Income Tax Board of Review, Goods and Services Tax Board of Review and the Football Association of Singapore Council. He also sits on the board of private and public listed companies.
As a Director at SMX, Mr. Tan will share his rich experience and knowledge of the financial markets and guide the exchange to realise its full potential. Mr Tan graduated from The University of Singapore with degree in Business Administration with Honours in 1971 and is an Associate of The Chartered Institute of Bankers He has completed the Harvard Business School’s Program for Management Development. y vibrant Singapore. |
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Mr. Vijaykumar Iyengar
Director
vijay.iyengar@smx.com.sg |
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| Founder, Agrocorp International, Singapore |
| Chairman, Singapore-Indian Chamber of Commerce & Industry |
| Founder & Director, Parameswara Holdings Ltd |
| Agrocorp recognized in Global Trade Programme by IE Singapore |
| Agrocorp in Singapore International 100 |
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Mr. Vijay Iyengar is the Founder and Managing Director of Agrocorp International
Pte Ltd; a Singapore-based international commodity trading house. He has steered
the company in less than two decades into a trading powerhouse in Asia-Pacific.
The company specializes in the physical trading of agricultural commodities such
as wheat, rice, pulses and beans, sugar, and oilseeds.
Agrocorp's impressive growth has attracted several honors and recognitions for Mr.
Iyengar's leadership and entrepreneurial vision, including the prestigious Global
Trader Programme by IE Singapore (first awarded in 1990 and successfully renewed
till 2010). This award is testimony to a consistent annual trade turnover of more
than US$ 100 million - a feat acheived by Agrocorp in the year of inception itself.
Agrocorp was ranked in the Singapore 1000 since the year 2000. The Singapore 1000
lists the Republic's top corporations ranked by their financial performance. Agrocorp
was also ranked in the Singapore International 100 since inception of the award
in 2005. Singapore International 100 is a national initiative to identify and celebrate
Singapore's top 100 companies ranked by highest overseas revenue.
The company today annually handles volumes of more than 2 million MT of products
to clients in India, Bangladesh, Pakistan, Sri Lanka, Indonesia, Vietnam, Malaysia,
China, Middle East and Africa.
Mr. Iyengar holds a B. Tech (Chemical Engineering) from the prestigious Indian Institute
of Technology - Mumbai and an MBA from Cornell University. He has been part of various
committees and currently holds some prestigious positions including Chairman, Singapore
Indian Chamber of Commerce and Industry. Mr. Iyengar will be a strong link between
SMX and the South Asian markets.
Mr. Iyengar's enormous experience and exposure to business in Asia and Africa will
help position SMX as the principal marketplace for emerging economies to transact
with the world at large. |
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Mr. Framroze Pochara
Director
framroze.pochara@smx.com.sg |
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| Former Founder CEO of DGCX |
| Represented NSE on SEBI's market reform committees |
| Managed strategic portfolios at NSE |
| Involved in transition from physical to electronic settlement at NSE |
| Track-record in setting up successful exchanges |
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Framroze Pochara is a capital markets expert and brings to SMX more than 20 years
of expertise in the field. He has a track record of being involved in setting up
successful exchanges - from National Stock Exchange of India (NSE), with which he
was associated from its early days, to Dubai Gold and Commodities Exchange (DGCX),
and now SMX. A postgraduate in management from the Bajaj Institute of Management,
Mumbai, Mr. Pochara commenced his career with Tata Share Registry where he managed
IPOs. He later joined NSE and headed its clearing house operations. From the early
days of handling settlement of more than 1 million share certificates every week,
Mr. Pochara successfully oversaw the transition from physical certificates to settlement
in electronic form.
As Vice President Operations at NSE, Mr. Pochara managed several strategic portfolios
including clearing and settlement operations, membership, listing and investor grievance.
He also represented NSE on various SEBI committees for market reforms.
Mr. Pochara led the setting-up of Dubai Gold and Commodities Exchange (DGCX), the
first commodities exchange in Dubai. As CEO of DGCX, his enthusiasm and passion
was instrumental in getting the exchange operational within six months and attracting
a huge amount of interest from players based in Middle East, India, and the Western
markets.
Mr. Pochara is a regular face in many industry conferences and was a panelist/speaker
in World Exchange Congress held in Dubai, SFOA Burgenstock conference and SIBOS
2006, Sydney to name a few.
SMX can draw on his in-depth understanding of market operations and market risk
and will greatly benefit from the firsthand experience gained by him in setting
up new-generation exchanges.
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| ADVISORY BOARD |
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Mr. Myron Scholes
Member, Advisory Board
myron.scholes@smx.com.sg |
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| Nobel Award winner for 'New method to determine the value of derivatives' |
| Creator of Black-Scholes pricing (BSP) model |
| Chairman, Platinum Grove Asset Management |
| Emeritus Professor with Stanford University |
| Held prestigious position at MIT, and University of Chicago |
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Mr. Myron Scholes was awarded the Nobel Memorial Prize in Economics in 1997 for
"a new method to determine the value of derivatives". The model provides
the fundamental conceptual framework for valuing options, such as calls or puts,
and is referred to as the Black-Scholes pricing model, which has become the standard
in financial markets globally. Trillions of dollars worth of options trades are
executed each year using this model.
Mr. Scholes is currently the chairman of Platinum Grove Asset Management, an alternative
investments asset management company, managing US$5 billion. He previously worked
with Salomon Brothers as a special consultant, managing director, and co-head of
its fixed-income-derivative group. He serves and has served on the boards of various
organizations, including the Chicago Mercantile Exchange, and Dimensional Fund Advisors,
a pioneer of passive investing which manages US$150 billion. Mr. Scholes taught
and held prestigious positions at Massachusetts Institute of Technology, University
of Chicago, and currently is an Emeritus Professor with Stanford University.
As advisor to the SMX board of directors, Mr. Scholes will bring great intellectual
wealth to the Exchange. His knowledge of the issues, challenges, and opportunities
in the world of high-finance places SMX in an especially advantageous position in
the global arena. This assumes even greater significance in view of Asia's growing
role in the global markets. His intellectual caliber sharpens SMX's competitive
edge in the top league of global mercantile exchanges. Stakeholders in SMX stand
to benefit from his enormous experience and insight into the world of high-finance.
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Mr. John Burbank
Member, Advisory Board
john.burbank@smx.com.sg |
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| Founder of Passport Capital LLC with over US$ 4 billion in assets |
| Passport Global Fund was named as the top performing hedge fund in the world, based
on the past three years of annualized returns |
| Focus of emerging economies and commodities |
| Former consultant for US$1 bn arbitrage fund |
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Mr. John Burbank has over a decade of experience investing in global equity markets.
He is the founder and Chief Investment Officer of San Francisco-based Passport Capital
LLC, a global hedge fund. The firm manages over US$ 4 billion in assets. Passport
Global Fund was named as the top performing hedge fund in the world, based on the
past three years of annualized returns.
Passport's investment process uses a combination of macroeconomic analysis to develop
major themes and rigorous fundamental research on individual companies to create
global portfolios. It focuses on the following industry/economy sectors: metals/mining,
energy, India, global consumer, capital markets, internet/technology, healthcare/biotechnology,
and sub prime mortgage CDS.
Prior to founding of Passport Capital in 2000, Mr. Burbank was consultant for JMG
Triton Offshore, Ltd, a US$ 1 billion market neutral arbitrage fund. Between 1996
and 1998, he was Director of Research for ValueVest Management, a US$ 150 million
long/short global value fund that focused on emerging markets and basic industries.
Between 1992 and 1996, he held various management positions in start-up companies,
active as a private investor.
A bachelor's degree holder in English Literature from Duke University and an MBA
from Stanford Graduate School of Business, Mr. Burbank's eminent achievements in
the global investment arena and his interest in emerging economies qualify him as
an ideal advisor to SMX. The new Exchange will find his advice particularly useful
as it builds and implements a strategy to enhance international investment interest
in the asset-classes to be traded on the SMX platform.
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Mr. David Yeow
Member, Advisory Board
david.yeow@smx.com.sg |
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| Member of disciplinary committee, SGX-DT |
| Member of the Monetary Authority of Singapore's Financial Centre Advisory Group
Banking Sub-Committee |
| Primary external legal advisor to SICOM |
| Recognised as a leading lawyer by Asia Pacific Legal 500 and Asia Law Profiles |
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Mr. David Yeow is currently a partner in Rajah & Tann, LLP, a Singapore-based
law firm. He is a member of the disciplinary committee of Singapore Exchange Derivatives
Trading Limited (SGX-DT). He was earlier a member of its rules committee and has
been the primary legal adviser to SGX-DT and its predecessor, the Singapore International
Monetary Exchange Limited (SIM EX), for the past two decades.
Mr. Yeow acted for SGX-DT in the investigation into the collapse of Barings Bank
and was a member of the representative group from SGX-DT responsible for its presentations
on the same to the US Commodity Futures Trading Commission, the Chicago Mercantile
Exchange, and the Chicago Board of Trade.
Mr. Yeow is also the primary external legal adviser to the Singapore International
Commodity Exchange Limited (SICOM), having originally advised on the privatization
of its predecessor body. He is also a member of the rules committee of SICOM.
Mr. Yeow is on the Mediation Panel of the Association of Banks Singapore and was
a member of the Debt Capital Market Working Group of the Monetary Authority of Singapore's
Financial Centre Advisory Group Banking Sub-Committee.
Mr. Yeow's acumen in issues of regulation and compliance will help SMX implement
best practices on its trading platform.
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Mr. Charles Seeger
Counsel to Advisory Board
charles.seeger@smx.com.sg |
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| Formerly, Senior Vice-President and Counsel for CME |
| Involved in conversion regulatory issues in the United States |
| Drafted commodity exchange laws for several nations |
| Helping develop capital markets in emerging markets |
| Involved in the development of financial markets in Ukraine |
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Mr. Charles Seeger is chairman of Financial Markets International, Inc, and a senior
attorney with more than 20 years experience in capital markets development including
the complex issues of the Non-Banking Financial Institution (NBFI) sector. He has
served as a senior advisor to securities commissions, securities and commodities
exchanges, central banks, finance ministries, and pension agencies in both emerging
and developed economies. Since 1990, he has implemented assignments to develop capital
markets in emerging markets through international best practices, legal and regulatory
reform, and private law.
Mr. Seeger was Senior Vice-President and Counsel for the Chicago Mercantile Exchange,
and has participated in the major developments between the U.S. SEC, CFTC, and Federal
Reserve Board on conversion regulatory issues. He has drafted commodity exchange
laws and regulations for several nations - including Ukraine, Kazakhstan, Russia,
Hungary, and cerTian Middle East countries - seeking modern commodity futures regulatory
regimes. He was the principal author of 'Background for Financial Markets Development
in Ukraine', published by USAID/FMI, in the year 2000. As a private practitioner
of law, he served leading exchanges, broker-dealers, banks, insurance companies,
and pension funds.
SMX is destined to be another high point in Mr. Seeger's distinguished career. As
Counsel to SMX's Advisory Board, he will infuse the new mercantile exchange with
his expert knowledge and understanding of the complexities of operating a global
exchange across different asset-classes. SMX stands to tremendously benefit from
his advisory role which will reinforce the foundations of a vibrant mercantile exchange
in a financially vibrant Singapore.
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| SENIOR MANAGEMENT |
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Mr. Thomas J. McMahon
Chief Executive Officer |
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| Former, Director of NYMEX Asia |
| In launching NYMEX Asia, Mr. McMahon brought the established Energy and Metals contracts of the exchange to the Asian business community |
| Established good working relationships with the various regional regulatory agencies including the SFC, CSRC, MAS, METI, MOF, FMC and DFSA |
| Served as Vice Chairman of the Petroleum Advisory Committee at NYMEX, prior to the launch of the gasoline futures contract |
| Elected onto the NYMEX board of directors |
| Served as Chairman of Natural Gas Advisory and Petroleum Delivery Committee leading up to the launch of the natural gas futures contract |
| Over 25 years of industry experience in derivatives and commodities across Asia and USA |
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Mr Thomas J. McMahon is Chief Executive Officer of Singapore Mercantile Exchange. Mr. McMahon brings with him over 25 years of industry experience in derivatives and commodities across Asia and USA. Formerly, he was the Director of NYMEX Asia.
Mr. McMahon joined NYMEX as Director of Asia after acting as an advisor to the Exchange in its agreement to link NYMEX ACCESS® with the Tokyo Commodity Exchange in 2004. In launching NYMEX Asia, Mr. McMahon brought the established Energy and Metals contracts of the exchange to the Asian business community and instituted a development program for Asia region specific contracts. In September 2005 NYMEX launched Singapore 180 fuel oil swap. This was followed by a 380 bunker swap and the East West Swap, tying the European refiners market to Southeast Asia. In the course of launching the new products Mr. McMahon established good working relationships with the various regional regulatory agencies including the SFC, CSRC, MAS, METI, MOF, FMC and DFSA.
From 1993 to 2003, Mr. McMahon was an owner-operator of Gaslink.Com, focusing on the order execution of natural gas futures and options contracts. He began his career as a member of the New York Cotton Exchange and the New York Coffee, Sugar and Cocoa Exchange which is now a part of the IntercontinentalExchange.
He became a member of NYMEX in 1982. In 1984, he served as Vice Chairman of the Petroleum Advisory Committee, prior to the launch of the gasoline futures contract. Mr. McMahon was elected onto the NYMEX board of directors in 1987 and served as Chairman of Natural Gas Advisory and Petroleum Delivery Committee leading up to the launch of the natural gas futures contract. |
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Mr. Framroze Pochara
Director
framroze.pochara@smx.com.sg |
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| Former Founder CEO of DGCX |
| Represented NSE on SEBI's market reform committees |
| Managed strategic portfolios at NSE |
| Involved in transition from physical to electronic settlement at NSE |
| Track-record in setting up successful exchanges |
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Framroze Pochara is a capital markets expert and brings to SMX more than 20 years
of expertise in the field. He has a track record of being involved in setting up
successful exchanges - from National Stock Exchange of India (NSE), with which he
was associated from its early days, to Dubai Gold and Commodities Exchange (DGCX),
and now SMX. A postgraduate in management from the Bajaj Institute of Management,
Mumbai, Mr. Pochara commenced his career with Tata Share Registry where he managed
IPOs. He later joined NSE and headed its clearing house operations. From the early
days of handling settlement of more than 1 million share certificates every week,
Mr. Pochara successfully oversaw the transition from physical certificates to settlement
in electronic form.
As Vice President Operations at NSE, Mr. Pochara managed several strategic portfolios
including clearing and settlement operations, membership, listing and investor grievance.
He also represented NSE on various SEBI committees for market reforms.
Mr. Pochara led the setting-up of Dubai Gold and Commodities Exchange (DGCX), the
first commodities exchange in Dubai. As CEO of DGCX, his enthusiasm and passion
was instrumental in getting the exchange operational within six months and attracting
a huge amount of interest from players based in Middle East, India, and the Western
markets.
Mr. Pochara is a regular face in many industry conferences and was a panelist/speaker
in World Exchange Congress held in Dubai, SFOA Burgenstock conference and SIBOS
2006, Sydney to name a few.
SMX can draw on his in-depth understanding of market operations and market risk
and will greatly benefit from the firsthand experience gained by him in setting
up new-generation exchanges.
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Mr. Eric T. Maine
Vice President - Head of Product & Research |
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| Vice President - Head of Product Development |
| Former CEO of Canning/Maine Associates, New York |
| Former Head of New Product Development & Manager, Marketing of New York Board of Trade |
| Formerly, independent consultant and advisor to several foreign and domestic governments with regard to mining, export generation, commodity financing, derivatives financing, investment opportunity and venture capital |
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Mr. Maine has over 25 years of experience in the financial markets. Prior to joining SMX, he was Chief Executive Officer of Canning/Maine Associates, an international consulting and investment firm. Previously he has worked at the New York Board of Trade as Head of New Product Development and Manager, Marketing.
Mr. Maine has expertise in market development, new product development, exchange traded and OTC derivatives including complex hedging techniques, strategies and structured derivative products across many commodities and financial product markets. Mr. Maine graduated from the Villanova University with a degree in Accountancy. |
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