ICE appoints Caterina Caramaschi to oversee interest rates and equity derivatives

Rick Steves

“As the head of a product set covering some of the biggest interest rate and equity derivative benchmarks, at a time when investor’s priorities are firmly focused on interest rate changes and the outlook for global economies, Caterina’s two decades of financial market experience, and the relationships cultivated during that, will be invaluable in developing these products to the benefit of our customers.”

Intercontinental Exchange, Inc. has appointed Caterina Caramaschi as head of a combined portfolio covering ICE’s global interest rates and equity derivatives futures and options.

The executive move will take place as open interest in Euribor is up 85% year-over-year (y/y) at approximately 18 million contracts, with average daily volume (ADV) up 83% at 1.47 million contracts, reflecting how customers are using Euribor futures and options to manage Euro-denominated interest rate risk and expectations for the Eurozone economy.

Average Daily Volume (ADV) in ICE’s equity derivatives complex is up 16% y/y at approximately 456,000 contracts, with open interest of roughly 4.5 million contracts, while ADV in ICE’s MSCI futures is up 21% y/y, with open interest of approximately 1.84 million.

Across ICE’s FTSE complex, ADV is up 7% y/y at 184,400 contracts, with open interest up 8% since the start of the year at roughly 2.6 million.

“A time when investor’s priorities are firmly focused on interest rate changes”

Caterina Caramaschi has worked at ICE and formerly LIFFE, for 21 years. She has held the role of ICE’s Global Head of Equity Derivatives since December 2020. Now, she becomes Vice President, Financial Derivatives.

Trabue Bland, SVP, Futures Exchanges at ICE, commented: “Caterina demonstrates many of the qualities which differentiates leaders at ICE across teamwork, collaboration, and being focused on solving our customers’ problems, no matter how complex, every single day. As the head of a product set covering some of the biggest interest rate and equity derivative benchmarks, at a time when investor’s priorities are firmly focused on interest rate changes and the outlook for global economies, Caterina’s two decades of financial market experience, and the relationships cultivated during that, will be invaluable in developing these products to the benefit of our customers.”

As head of a combined portfolio covering ICE’s global interest rates and equity derivatives futures and options, Caterina Caramaschi will be responsible for ICE’s interest rate futures markets, which include the benchmark Euribor, UK Gilt, SONIA, SARON, and ICE’s mortgage rate lock futures, as well as the global equity derivatives complex, which offers customers the most liquid markets in the world to trade derivatives based on MSCI and FTSE indices, as well as the NYSE FANG+ Index.

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