Ivanov appointed Clearing Corp's chief risk officer

The Clearing Corporation (CCorp), Chicago-based provider of clearing services for global exchange-traded and over-the-counter derivatives, has appointed Stanislav Ivanov as chief risk officer.

Ivanov will be responsible for the development of CCorp's OTC risk management systems as well as oversight of daily risk management functions for CCorp's existing exchange-traded products.

Before joining CCorp, Ivanov held the positions of first vice-president of quantitative risk management at the Chicago-based equity derivatives clearing house Options Clearing Corporation, and chief risk officer at Illinois-based investment management firm LJM Partners.

CCorp is developing into a central counterparty clearing house for OTC credit derivatives trades under ownership of a group of financial institutions, including 11 major dealers and three inter-dealer brokers.

“Our expanding presence as a central counterparty services provider to the OTC markets requires that we provide those markets with the same standards of safety and soundness that we have traditionally provided to our exchange customers,” said Michael Dawley, chairman of CCorp. “Stan's appointment to the newly created chief risk officer position underscores our commitment to provide the highest levels of risk management protection to the markets we clear.”

See also:
Clearing the way ahead
Central clearing house becomes a reality