All derivative exchanges and most stock exchanges have related clearing houses, often separate institutions. Clearing houses themselves are looking to provide clearing services to the OTC markets which are now many times larger than the related formal exchange markets, where they exist. Exchanges have responded to the challenge and launched OTC type products, but with limited success. In this scenario what will be the future role and structure of clearing houses? Can they successfully serve both types of market and, perhaps, become structurally independent of each?
Daniel Hodson was the Mercers' School Memorial Professor of Commerce between 1999 and 2002, lecturing widely on governance.
Daniel Hodson's early career spanned both marketing and financial roles. He became Deputy CEO of Nationwide Building Society in 1989 and in 1993 was appointed CEO of LIFFE plc, a post held until 1998. Daniel has extensive experience as non-executive director of The Post Office, Rolfe and Nolan plc, Independent Insurance Group and the London Clearing House plc.
He is a non-executive director of SVM Global plc and Chairman of BPLGlobal (Holdings) Ltd. He is also a former Master of the Mercers Company and Chairman of the Lokahi Foundation.
All of his previous lectures can be accessed here.