The London Metal Exchange (LME) has named John Lee as its new chief technology officer (CTO), officials say. Lee will join LME’s executive committee and will report to Garry Jones, LME’s chief executive, officials say. His appointment is effective Jan. 26, 2015.
Lee has more than 22 years of technology experience at financial exchanges, as well as leadership and systems delivery experience. He joins LME from the
Intercontinental Exchange, a network of exchanges and clearing houses, and parent company of wholly owned subsidiary, The New York Stock Exchange. At ICE/NYSE, he led the technology delivery for a new clearinghouse for the LIFFE futures exchange.
After ICE’s acquisition of NYSE Euronext, Lee’s responsibility switched to the integration of the LIFFE market with ICE Clear Europe, which was successfully launched in July 2013, officials say. Lee had worked at NYSE Euronext and LIFFE for 20 years, with responsibilities ranging from global IT project management to the delivery of complex derivative trading and clearing systems.
The LME is a member of HKEx Group and serves as a global center for industrial metals trading, officials say. More than 80% of global non-ferrous metals business is conducted via three trading platforms: LMEselect (electronic); the Ring (open outcry); and the 24-hour telephone market. The LME is used to trade futures, options and LMEswaps, to hedge against adverse price movements. Participants can trade aluminum, copper, tin, nickel, zinc, lead, molybdenum, cobalt, steel billet and two regional aluminum alloy contracts.
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