IPE President Speaks at FIA European Chapter Meeting
Richard Ward, chief executive officer of the International Petroleum Exchange, was the guest speaker at a March 23 meeting of the FIA European Chapter. The main topic of discussion was the IPE’s recent decision to close the trading floor and go completely electronic by April 8. Ward described some of the measures that IPE is taking to help clearing firms and locals adjust to the rapid transition to all-electronic trading, such as providing training courses and setting up four temporary arcades on its trading floor. Ward also discussed some of the rule changes that IPE has implemented as part of the transition to electronic trading.

FIA European Chapter Elects New Chairman
The FIA European Chapter has elected new officers. Peter Heales, managing director at Bear Stearns International, has been elected chairman, taking over from Bill Russell, head of European futures at Citigroup Global Markets. William Knottenbelt, global head of futures at RBS Greenwich Futures, has been elected deputy chairman, replacing Heales. Richard Seaman, director of global compliance at Man Financial, was re-elected as secretary.

The FIA European Chapter was formed to provide a forum for discussion and study of issues common to U.S. brokerage firms with branch offices or subsidiaries in Europe.

The Committee coordinates the views of the European brokerage community and presents them to the European exchanges and relevant regulators. The Committee is also a resource for FIA members in the U.S. who wish to understand developments in Europe.