2011-06-21 17:36 
SINGAPORE, June 21, 2011
/PRNewswire-Asia/ --The Singapore Mercantile Exchange ("SMX")
announced today that Mr. V Hariharan has been appointed as the
interim CEO with effect from June 20, 2011. He will take over
from Mr. Thomas McMahon, who leaves SMX at the end of this month
but continues to lend his market knowledge to the group as an
external adviser.
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 (6th
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.
"The Board is pleased to have Mr.
Hariharan at the helm of SMX during this critical transitional
phase. With his vast experience of new exchange
implementation in multiple Greenfield projects and his long
association with the SMX, we are confident he will keep the
Exchange on a steady course," says Mr. Ang Swee Tian,
Chairman of SMX.
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) -
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, www.smx.com.sg
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SOURCE Singapore Mercantile
Exchange