SINGAPORE, Dec. 12, 2011 /PRNewswire-Asia/ -- The Board of
Directors of the Singapore Mercantile Exchange ("SMX") is pleased
to announce the appointment of Mr. Vaidyalingam Hariharan,
currently serving as the interim CEO, as the Chief Executive
Officer of SMX with effect from 12 December 2011. His appointment
is for an initial term of three years.
"The Board is pleased to appoint Mr. Hariharan as
the CEO of SMX. He has steered the exchange to a path of consistent
growth through the transitional phase. We are confident that, with
his vast experience of new exchange implementation in multiple
Greenfield projects, he will be able to expand the reach of SMX
into new product categories and markets," says Mr. Ang Swee Tian,
Chairman of SMX.
In his six-month tenure as the interim CEO, Mr.
Hariharan has been responsible for stabilising the operations of
SMX and demonstrating tangible results both on the business and
strategic fronts. He has instilled greater focus in the
organisation through re-allocation of resources and
responsibilities with a view to driving
performance.
"I am happy that the Board has expressed confidence
in my leadership and given me a mandate to lead this unique
pan-Asian commodity derivatives and currencies exchange. In the
short term, we aim to further consolidate our position and also
introduce some Asia specific agri contracts which will enable to
broaden market participation on SMX," says Mr. V Hariharan, CEO of
SMX on his appointment.
Mr. Hariharan is a qualified technology and
management professional with extensive experience in areas of
technology development and conceptualization, exchange management,
business strategy and international relations. He has immense
knowledge in the field of exchanges, with previous stints at the
Bombay Stock Exchange (BSE), National Stock Exchange of India Ltd.
(NSE) and Multi Commodity Exchange of India Ltd. (MCX). Mr.
Hariharan has been notably involved in MCX (5th largest Commodity
Exchange in the world), and Indian Electricity Exchange (IEX - No.
1 Electricity Exchange of India), where he has been involved right
from the inception as director on the board to implement these
green-field Exchanges.
From December 2000, he has held pivotal roles within
the Financial Technologies Group -- a leading provider of trading
technology solutions and the creator of several exchange and
support eco-system ventures across India, Middle East, Asia and
Africa. Mr. V Hariharan has been director on the board of various
exchanges and support companies including the boards of SMX and its
wholly-owned subsidiary, SMX Clearing Corporation from the very
beginning.
About Singapore Mercantile
Exchange
Singapore Mercantile Exchange is a pan-Asian
multi-product commodity and currency derivatives exchange situated
in Singapore. It offers a comprehensive platform for trading a
diversified basket of commodities including futures and options
contracts on precious metals, base metals, agriculture commodities,
energy, currencies and indices. SMX offers market participants the
benefits of market transparency, time zone convenience, price
discovery and benchmarking, price risk management and multiple
connectivity options. Counterparty clearing and settlement risk is
effectively managed through its clearing house, the Singapore
Mercantile Exchange Clearing Corporation. The regulator of
Singapore's financial markets -- the Monetary Authority of
Singapore (MAS) -- has granted SMX "Approved Exchange" status since
2010. SMX is backed by the world's leading creator of exchanges --
Financial Technologies (India) Limited -- which has successfully
established 10 exchanges across India, Dubai, Singapore, Africa,
Mauritius and Bahrain. SMX is a member of leading international
derivatives industry associations, such as the Futures Industry
Association (FIA), the Swiss Futures and Options Association
(SFOA), the Association of Futures Markets (AFM) and the Futures
and Options Association (FOA).
More information is available at
www.smx.com.sg
For SMX media enquiries, please
contact:
Hasmita Rajan
Corporate Communications
Tel: +65-6590-3754
Email:
[email protected]
SOURCE Singapore Mercantile
Exchange