T-Zero, the leading credit derivative affirmation and connectivity provider, today announced the appointment of Clive de Ruig to the newly created position of head of North America. In this role, de Ruig will oversee marketing and client services and will work with the US team to continue the firm’s global expansion.
Over the past two years, T-Zero’s trade affirmation platform has been adopted by nearly 150 buyside institutions globally and is being used by major dealers as well as prime brokers. Since joining T-Zero in October 2005, de Ruig has held positions in European marketing and as director of business development with responsibility for European dealers, buyside and prime brokers.
"Clive has played an instrumental role building T-Zero’s client base among major institutions, and he is particularly well suited to help our firm attain the next level of growth," said Mark Beeston, T-Zero president. "T-Zero is continually being sought out as a way to reduce and eliminate operational and settlement risks in an industry that has been growing at a very fast pace."
Beeston noted that recent market volume has again highlighted the need for automation and system-to-system connectivity to ensure a healthy growth trajectory. "The market needs scalable solutions that deliver accuracy into the middle office, particularly around novations," said Beeston. "Attaining the highest level of post-trade efficiencies is crucial as the credit derivatives markets continue to develop."
De Ruig’s focus will be working with US-based clients including dealers, prime brokers and hedge funds to support their business needs while also aiming to continue the firm’s exponential business growth. T-Zero has been onboarding new clients to the platform at a healthy clip this year and expects this pace to continue in 2008 as clients and banks increasingly leverage the platform’s market leading connectivity and state-of-the-art novation functionality.
"This is a unique opportunity to work with credit derivatives market participants in North America," said de Ruig. "There is huge demand for affirmation and novation processing, and we believe our services will be increasingly sought after. T-Zero’s goal will be delivering maximum value to our clients while continuing to lead in providing these services combined with the ‘agnostic connectivity’ market participants need."