In this new role, Marcus will lead LCH.Clearnet's next phase of expansion in Australia, building on SwapClear's existing presence in the region. He will work with local market participants to further enhance SwapClear's offering in line with their needs, including extending operational service hours. A member of SwapClear's Global Management Team, Marcus was previously based in LCH.Clearnet's London office as Director of SwapClear Business Change. He joined the company in 2009 as Senior Manager OTC Clearing, Risk and Operations. Prior to joining LCH.Clearnet, he worked for JP Morgan in its investment banking and asset management divisions and the Commonwealth Bank of Australia in Sydney in the Financial Markets division. Marcus holds Australian citizenship.

Daniel Maguire, Global Head of SwapClear said: "Australia is an important component of our geographic expansion strategy in the Asia Pacific region. The relocation of Marcus, one of our senior executives, reflects our absolute commitment to the region. Marcus has been instrumental in our Australian business from the outset and his industry knowledge, experience and leadership skills will be essential to our continued growth. This new phase strengthens our ambitions to deepen relationships long-term with local and international firms to ensure we deliver the best Australian and regional support."

SwapClear currently clears over 90% of all cleared Australian dollar IRDs and over 40% of the entire Australian dollar IRD market. The first AUD compression run was completed in May 2014 with 24,616 trade sides compressed amounting to a AUD 1.07 trillion reduction in outstanding notional. SwapClear's members and clients benefit from access to the broadest range of OTC derivatives products and services in the greatest number of currencies offered by any CCP, combined with proven risk management skills and standards.