Stuart’s prime expertise is change and program management, with the ability to analyse, recommend, develop and implement effective solutions to both old problems and new opportunities in the exchange space. This ability covers the whole chain of product development, rules, stakeholder management, regulatory approval and systems for trading, clearing and settlement. His expertise covers most asset classes, with most recent experience obtained in carbon emissions products.
His work at Bourse Consult included:
•Hands-on programme management for the introduction of an Interest Rate Futures trading and clearing operation in South Africa;
•Advising a trading systems vendor on how to deliver better projects;
•The specification of a new trading platform and advice on clearing solutions for an emerging market exchange.
•Development of an RFP for multi-asset class clearing system for another emerging market exchange
He came to Bourse Consult from New Zealand where he has been modernising the exchange’s trading, clearing and settlement infrastructure. Once fully in place, NZX will move from a cash only exchange to a multi asset class one, supported by a new CCP Clearing house and CSD.
He also developed a business model for carbon emissions trading in New Zealand and developed the infrastructure to support it. The Emissions Registry component was awarded a contract to be one of the global registries for the Voluntary Carbon Standard Association. It has since been sold to Markit.
Prior to New Zealand, he was employed by the Dubai International Financial Exchange (DIFX) to project manage the set-up of this brand new exchange with emphasis on the trading, clearing and settlement infrastructure. He also has a strong background in energy trading. He was responsible for the market infrastructure set-up of the UK Power Exchange (UKPX) and subsequently went on to develop and implement a more efficient margining algorithm for Power Futures.
Stuart has had solid experience in exchange management as Head of Clearing and member of the OM London Board. He is also an expert in Market Data. He has consulted widely on Market Data projects with both users and suppliers in Europe and has built a large international exchange data distribution business.
Stuart has an MA from Cambridge University and a Diploma from the Securities Institute of Australia.