Isda AGM: Carver takes on SwapsWire challenge

SwapsWire, the electronic derivatives trade processing platform backed by 23 leading dealers, has announced that Chip Carver, head of e-commerce for the rates business at Goldman Sachs, has been recruited as its new chief executive. He replaces Andrew Brown, who has left SwapsWire following delays to the launch of the system.

The SwapsWire project was launched in April 2000, and Brown joined in September the same year from Bank One in London. “We are not going to comment on the reasons for this change,” a SwapsWire spokesman told RiskNews, “But there have been some technical problems.” The spokesman declined to name a target date for the start of SwapsWire operations.

Brown’s departure from SwapsWire has led to a