September 2, 2013

Aquis Exchange has appointed former LCH.Clearnet group head of equities, Wayne Eagle, to run its post-trade services weeks ahead of its launch, has learned.

Eagle has begun work as head of post-trade services for the pan-European multilateral trading facility as the firm enters the latter stages of preparation before its anticipated October launch, dependent on final regulatory approval.

Eagle spent five years at LCH.Clearnet and left a year ago during management shifts in the lead up to the clearing house’s acquisition by the London Stock Exchange Group. Prior to LCH.Clearnet, Eagle held roles with sell-side firms Lehman Brothers and Goldman Sachs.

Aquis will attempt to build liquidity using a tiered subscription pricing model based on similar models used in the telecommunications industry. The exchange will be run by former Chi-X Europe CEO, Alasdair Haynes.

In August, the firm announced the Warsaw Stock Exchange had acquired a 30% stake in Aquis for £5 million, valuing the venue at £16.5 million.

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 Richard Henderson