KUALA LUMPUR: Bursa Malaysia Bhd has appointed William Francis Herder as independent director to the board of its subsidiaries, Bursa Malaysia Derivatives Bhd and its clearing house, Bursa Malaysia Derivatives Clearing Bhd, effective June 2.

In a statement, Bursa Malaysia said Herder, who holds an MBA in Finance and Economics from University of Rochester, has over 20 years of experience in the listed derivatives industry.

He is currently the president of futures industry association (FIA) Asia. He has extensive experience in the futures and options business and has been a key participant in the development of processes and systems for the electronic trading and clearing of exchange traded derivatives.

The stock exchange operator said the boards of directors of the subsidiaries as at June 2 consist of three nominee directors of Bursa Malaysia Bhd, one nominee director of Chicago Mercantile Exchange Group Inc (CME Group), which owns 25% shareholding in Bursa Malaysia Derivatives group and one independent director.

The directors are Bursa Malaysia CEO and executive director Datuk Seri Tajuddin Atan, Bursa Malaysia non-executive director and public interest director Datuk Zuraidah Atan, Bursa Malaysia independent non-executive director Datuk Chay Wai Leong, CME Group director Bryan Thomas Durkin and newly appointed William Francis Herder.