Thomas Book named FRA Chairman, other exec changes at Deutsche Börse’s Eurex
Exchange operator Deutsche Börse Group has announced that Thomas Book was appointed as Member of the Management Board of the Frankfurt Stock Exchange by the Exchange Council. He will take over the Chairmanship of the Management Board, succeeding Hauke Stars, who will leave Deutsche Börse on 30 June and resign from the Management Board.
Thomas Book has worked for Deutsche Börse for 25 years and is Executive Board Member for Trading & Clearing, which includes the derivatives exchange Eurex, Eurex Clearing, the foreign exchange trading platform 360T and the energy and commodity business of EEX Group. As of July 1, the cash market business, including the Frankfurt Stock Exchange, will be added to his responsibilities. This will bring together all Deutsche Börse’s trading and clearing platforms in one division.
The further members of the Frankfurt Stock Exchange’s Management Board are Martin Reck (Deputy Chairman), Cord Gebhardt and Michael Krogmann.
The Management Board of a stock exchange acts as a management body for the public administration assigned to the stock exchanges. It ensures compliance with the regulations of stock exchange laws and, in particular, the orderly conduct of stock exchange trading. It can issue administrative acts and is therefore an authority in the sense of administrative law.
Separately, Deutsche Börse Group stated that its Eurex Frankfurt AG and Eurex Clearing AG units are making changes to their Executive Boards.
Michael Peters will succeed Thomas Book as Chief Executive Officer of Eurex Frankfurt AG as of 1 July 2020. Michael Peters has been Deputy CEO of the company since February 2016. Randolf Roth will take over responsibility for Equity & Index Derivatives. As part of the changes, Roth will also be responsible for Client Service Trading & Clearing.
Jonas Ullmann will join the Executive Board as Chief Operating Officer, taking over Trading Design & Delivery. His responsibilities will include the further development of trading functionalities and ongoing trading operations.
These personnel changes are a consequence of reorganized responsibilities on the Executive Board of Deutsche Börse AG, Eurex’s parent company. The Cash Market division, which was previously the responsibility of Hauke Stars, will be integrated into the Trading & Clearing division under Book as of 1 July 2020. Book will hand over the role of CEO of Eurex Frankfurt AG to Peters.
Jens Janka will join the Executive Board of Eurex Clearing AG as Chief Operating Officer with responsibility for Clearing Design & Delivery. He succeeds Heike Eckert, who will take over the newly created Executive Board division Human Resources and Compliance at Deutsche Börse AG as of 1 July.