Droit Financial Technologies, a provider of real-time solutions for derivatives pre-trade front-office decision-making and post-trade compliance reporting, has named its new advisory board, which will be headed by former International Swaps and Derivatives Association (ISDA) CEO Robert Pickel. The board also includes financial technology investor Mark Beeston and former UBS Group managing board member Seth Cohen.
The board’s mission is to guide Droit, which was founded in 2012, as it delivers “real-time, enterprise-wide compliant trading solutions that address the need for financial institutions to meet a complex array of evolving global regulatory and market structure requirements,” according to a company statement.
“Pre and post-trade compliance were a central focus in my roles at ISDA,” says Pickel, who was CEO of the derivatives trade association for more than a decade, in the statement. The Droit advisory board is his first appointment since leaving ISDA, the company notes.
Technology solutions, “such as those offered by Droit, are becoming increasingly important as firms seek to implement critical infrastructure to address the wave of global regulatory and market structure change,” says Beeston, a former Deutsche Bank executive and founder and CEO of Illuminate Financial Management, a financial-technology venture capital firm.
Prior to Illuminate, he headed the post-trade and information division of ICAP, the interdealer broker and provider of post-trade risk mitigation and information services. That division included Euclid Opportunities, ICAP’s early stage investment business, per Droit.
“Compliance and the associated reputational risk are top of bank executives’ agendas,” says Cohen in the statement. He is a 30-year financial services executive who retired from the group managing board of UBS AG in 2008 to found Eleven Canterbury international consultancy.
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