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David Hardy joins Alternative Derivatives Exchange as its Chairman

London-based Alternative Derivatives Exchange (ADE) announced today the appointment of David Hardy as its Chairman. The new Chairman will be responsible for maintaining the company’s standards of service and promote wellbeing and stability of financial derivatives industry. David is also expected to guide ADE management to offer a matching venue for institutions to transact in derivatives on alternative assets.

Currently, David is the Chairman on the boards of GCSA LLC and Asterisk Network Solutions Ltd. He has worked at Barclays and was the Chief Executive of the London Clearing House. He has taken up various board, advisory along with other senior positions in groups including MF Global, Cleartrade Exchange etc.

David Hardy commented on his appointment, “ADE has ambitious but reachable aims of deploying its next-generation trading and clearing technology, that manages and reduces risk from origination to physical settlement, within a UK corporate and regulatory environment. I am delighted to join ADE’s first-class team and to help implement its disrupter strategy.

Established in 2018, ADE aims to provide businesses with new products to hedge risk on a next-generation high-frequency-trading capable platform. It states that at launch Alternative Derivatives Exchange will be an FCA regulated multilateral trading facility, listing derivatives on alternative assets including deliverable Digital Assets, DA Indices, cash-settled weather and deliverable freight capacity futures. ADE is backed by a proprietary technology stack including a matching engine (CROM) and a blockchain-based clearing & settlement mechanism (Clear Chain).

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