CCP12 members elected a new Executive Committee (ExCo) to lead the association in the next 2 years. Mr. Kevin McClear, Corporate Risk Officer at Intercontinental Exchange, Inc. was elected as new Chair of CCP12. Ms. Agnes Koh, Chief Risk Officer at Singapore Exchange Limited waselected as Vice-Chair. Mr. George Kormas, Chief Risk Officer at TMX Group will continue to serve as the Treasurer. In addition, the following members were elected as ordinary ExCo members:

• Mr. Lee Betsill, Chief Risk Officer and Managing Director, CME Group, Inc.;
• Mr. Kausick Saha, Chief Risk Officer, The Clearing Corporation of India Ltd.;
• Mr. Tim Cuddihy, Managing Director, Depository Trust & Clearing Corporation;
• Mr. Teo Floor, Special Advisor to the CEO at Eurex Clearing AG;
• Mr. Rajiv Pabari, Head of Market Infrastructure Risk, Hong Kong Exchanges & Clearing;
• Mr. Daisuke Miyauchi, Chief Risk Officer & Director Risk Management Department, Japan Securities Clearing Corporation;
• Mr. Slawomir Panasiuk, Vice President of the Management Board, KDPW_CCP S.A.;
• Mr. Nicholas Lincoln, Group Head of Market Risk, London Stock Exchange Group;
• Mrs. Erica Brown, Head of International Affairs, Nasdaq Clearing;
• Mr. Vikram Kothari, Managing Director, NSE Clearing Ltd.;
• Mr. Dale Michaels, Executive Vice President Financial Risk Management, The Options Clearing Corporation;
• Mr. Hongbo Wang, Deputy General Manager, Shanghai Clearing House

“I am very honoured to chair CCP12 for the next 2 years and would like to express my sincerest gratitude to Chairman Zhen Xu from Shanghai Clearing House, who led CCP12 in the past 2 years. Due to his excellent work and leadership, we were able to strengthen the position of CCP12 as The Global Association of Central Counterparties. I look forward to working with the CCP12 members and industry to continue the association’s mission.” said Mr. Kevin McClear.

The AGM participants furthermore approved the 2019 audit report, acknowledged the work plan for the upcoming years and approved the budget plan for 2021. The AGM was held for the first time as a videoconference as the ongoing corona crisis pandemic prevented travelling and a meeting in person.

https://ccp12.org/wp-content/uploads/2020/07/CCP12-_PR_AGM_2020.pdf.

In the 2021 virtual Meeting of the General Assembly, CCP12 Members approved the 2020 audit report and the updates CCP12 Bylaws, acknowledged the progress report and the work plan for the upcoming years and approved the budget plan for 2022. The four Working Committees of CCP12 presented their work, and recent publications, including the CCP12 Policy Perspective on the implementation timeline for the Basel III Standards, the updated PQD FAQ Guide, and joint work with EACH, FIA, and ISDA on CCPs’ default management auctions on category 1 topics.

In a second session next week, CCP12 welcomes experts from the public sector for an informaldiscussion on market developments, best practices, and policy issues.

Furthermore, CCP12 members discussed the membership application of Dubai Clear LLC, a new established CCP for Equities in Dubai. The General Assembly accepted Dubai Clear as a Primary Member of CCP12, bringing the total membership to 38.Furthermore, CCP12 members discussed the membership application of Dubai Clear LLC, a new established CCP for Equities in Dubai. The General Assembly accepted Dubai Clear as a Primary Member of CCP12, bringing the total membership to 38.

“CCP12 had a very successful start into 2021 and we are excited about tackling the ambitious work plan as laid out to the membership to achieve the main goal of the association: to contribute to safer, more robust and resilient financial markets. We are delighted to welcome Dubai Clear as a Primary Member of CCP12 and look forward to a great cooperation.” said Mr. Kevin McClear, Chairman of CCP12.

“Receiving this membership from the CCP12 is an important milestone in our strategic direction to be recognized in this esteemed global association. We look forward to working closely with ourpeers in the association to share our experiences, gain insights to best practices adopted to grow our CCP services across the region and reinforce safety and confidence in clearing and settlement for our marketplace.” said Mrs. Maryam Fekri, CEO of Dubai Central Clearing and Depository Holding LLC and Senior Advisor to Dubai Clear.

“It was a delight to bring all our members together for another AGM, and discuss the outlook for central clearing, and our workplan. The uncertainties across the globe and markets imply great value for the transparency and risk management enabled by CCPs, but also necessitates thoughtful discussions and collaboration across our global community and its stakeholders. I look forward to the next year of cooperation across our growing membership.” said Mr. Teo Floor, CEO of CCP12.

https://ccp12.org/wp-content/uploads/2021/06/CCP12-_PR_AGM_2021.pdf.