Satish Nandapurkar appointed CEO of Eurex US

Experienced U.S. derivatives professional to head Eurex US/
Ferscha: Nandapurkar brings wealth of experience and the advantage of the customer perspective/
Joseph Murphy, CEO of REFCO Global Futures, to join Eurex US Board representing independent clearing firms

Satish S. Nandapurkar has been appointed Chief Executive Officer of U.S. Futures Exchange Inc. (Eurex US), the new U.S.-based futures exchange currently seeking approval as a regulated U.S. exchange from the Commodity Futures Trading Commission (CFTC). Nandapurkar's previous experience includes senior management roles at Swiss Bank Corporation from 1991 to 1996, where he had served as Managing Director and Global Head of Exotic Options, as well as having served as Managing Director and Global Head of Foreign Exchange Options at Bank of America from 1997 to 1999, based in New York and Chicago.

He joins from the Chicago Mercantile Exchange, where he has served as Managing Director and Head of Products and Services, responsible for sales and marketing, product management, and overseas offices. He had originally joined CME as Head of e-Business in 2000.

Nandapurkar had entered the financial services industry as a floor trader for Chicago-based options trading firm O'Connor & Associates in 1988 after serving four years as an active duty U.S. Air Force officer, where he had been honorably discharged at the rank of Captain.

He holds a Master's degree in Economics from Boston University and a Bachelor of Science in Computer Science and Engineering from MIT.

Rudolf Ferscha, CEO of Eurex, said: "Satish will provide Eurex US with a wealth of experience in derivatives trading and risk management. He has an outstanding track record of senior positions in prime financial services firms and will be able to fully leverage his experience in developing the business and helping to shape the culture of Eurex US. Having spent most of his career in financial services as a customer of exchanges will further facilitate this - his full appreciation of the customer perspective will benefit Eurex US as well as our customers."

As CEO, Nandapurkar will be appointed to the board of directors of Eurex US where he will join Michael McErlean who will serve as Sales Director.

It was also announced today that Joseph J. Murphy, Chief Executive Officer of REFCO Global Futures, will join the Eurex US Board of Directors representing independent clearing firms. This follows last week's appointments of Kaushik I. Amin of Lehman Brothers Inc., Bradford S. Levy of Goldman, Sachs & Co. and Jeffrey D. Jennings of Morgan Stanley & Co to the Eurex US Board.

Ferscha said: "We are delighted to have Joe Murphy lend a strong voice to independent clearing firms on the Eurex US Board. He brings yet another leading U.S. financial industry perspective to the new U.S. exchange."

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