Cboe appoints Vikesh Patel as President of Cboe Clear Europe

Rick Steves

“Having been a client, partner and competitor of Cboe Clear Europe over many years I am well aware of the company’s strong reputation, in particular for its outstanding levels of client service, innovation and risk management expertise.”

Cboe Global Markets Inc. has appointed Vikesh Patel as President of Cboe Clear Europe, one of the most if not the most connected CCP in Europe, offering clearing services to 47 trading venues.

Cboe Clear Europe is approved to clear cash equities, depositary receipts, ETFs and equity derivatives (index futures and options).

Past career includes SWIFT, LCH, Goldman Sachs, Morgan Stanley, UK Treasury

Vikesh Patel joins Cboe Clear Europe after fifteen years of experience in financial market infrastructure, most recently at SWIFT, where he was  Head of Securities with responsibility for leading its securities strategy globally.

Prior to joining SWIFT in 2017, Vikesh Patel was a chief operating officer at LCH, focusing on strategy, risk management, and the development of new products for the clearing organization’s EquityClear and RepoClear businesses.

Prior global executive roles include Goldman Sachs and Morgan Stanley, with a primary focus on market infrastructure and post-trade strategy.

He began his career at HM Treasury working on a range of domestic and international policy areas and served as a Private Secretary to both the Financial Secretary to the Treasury and Economic Secretary to the Treasury.

Natan Tiefenbrun, President, Cboe Europe, said: “We are delighted to have Vikesh lead Cboe Clear Europe. He has a long and impressive track record in the securities post-trade industry, both in Europe and globally. We are excited to able to leverage his expertise to support Cboe Clear Europe’s strategic growth and further enhance its position as the leading pan-European clearing house. I would also like to express my gratitude to Arnoud Siegmann for the period in which he has served as Cboe Clear Europe’s Interim President, in addition to his ongoing role as Chief Operating Officer.”

Vikesh Patel, President of Cboe Clear Europe, said: “I am honoured to be appointed as the next President of Cboe Clear Europe. Having been a client, partner and competitor of Cboe Clear Europe over many years I am well aware of the company’s strong reputation, in particular for its outstanding levels of client service, innovation and risk management expertise. The company is at an exciting time in its development and I am looking forward to leading it into its next phase of growth.”

Cboe Clear Europe, formerly EuroCCP

Cboe completed its acquisition of Cboe Clear Europe (formerly EuroCCP) in July 2020. The company has since enhanced its position as the leading pan-European cash equities clearing house, growing its volumes on venues that allow fully interoperable clearing as well as those that have adopted preferred clearing.

The preferred model is used on venues that do not support interoperable clearing and allows Cboe Clear Europe to clear a trade provided that both counterparties have elected it as their preferred clearing provider.

Cboe Clear Europe’s volumes for this service were 47.7 million in the 11 months ended 30 November 2022, compared with 9.1 million in 2021.

Cboe Clear Europe has also diversified into equity derivatives clearing in support of Cboe Europe Derivatives (CEDX), Cboe’s pan-European derivatives exchange which launched in September 2021.


Read this next

Institutional FX

Fiserv secures major payment institution licence in Singapore

Brookfield-based financial services technology provider Fiserv Inc has obtained nod for a Major Payment Institution license in Singapore.

Institutional FX

Finalto expands NDFs line-up with Taiwanese dollar

Finalto announced today that it has expanded its non-deliverable forwards (NDFs) offering with the addition of Taiwan’s dollar to its trading platform.


It’s time for FX to Harness Crypto’s Potential

Jonathan Cumberlidge, FX Sales Director for BVNK, makes the case for cryptocurrencies in improving the efficiency and flexibility of foreign exchange trading.

Digital Assets

Owner of OptionMint, OptionKing, and OptionQueen gets 30 months in prison

A US federal judge has sentenced Ohio resident Jared Davis, who was found guilty for his participation in a multi-million fraud scheme carried out by Israeli-run binary options websites.

Executive Moves

iS Prime co-founders Raj Sitlani and Jonathan Brewer leave, but “business as usual”

“For our clients and teams at iS Prime, iS Risk and iS Prime Hong Kong, it is business as usual. We will be increasing our investment in our technology and staff, putting our clients first as we drive the business forwards to maintain our market leadership position.”

Digital Assets

Germany-focused DekaBank taps METACO for digital asset custody offering

“Digital assets are a critical part of the future, a radical new way for how assets will be represented, from currencies to real estate.”


Eventus launches AML solution for TradFi and digital asset space

“Firms operating in traditional financial markets and digital assets alike are facing greater challenges than ever to protect themselves from those presenting a risk to their businesses and reputations, along with their standing with government regulators.”

Industry News

Qomply launches direct-to-FCA trade report solution that bypasses ARM

“Certainly, for back-reporting large volumes of data, QomplyDirect removes extra ARM fees by offering the flexibility of sending reports directly to the FCA via a firm’s own infrastructure.”

Executive Moves

BNP Paribas AM appoints Geoff Dailey as Deputy Head of US Equities

“Geoff has more than 20 years’ experience in the industry and as a key, senior member of the team with a strong investment pedigree and leadership profile, he is the natural successor for Pam.”