Press releases 2003

05 August 2003

Exchange appoints new Managing Director of EDX London

The London Stock Exchange today announced that Nic Stuchfield has been appointed as the new Managing Director of EDX London.

Nic Stuchfield, who will report directly to Clara Furse, the London Stock Exchange's Chief Executive, will be responsible for developing EDX London's equity derivatives business.

Since 1999, Nic has been running the eponymous Stuchfield Consultancy, before which he was Chief Executive Officer of Tradepoint Financial Networks, the operator of the Tradepoint Stock Exchange (now Virt-X).  His earlier career has embraced a variety of roles within Barclays plc and its subsidiaries, in particular BGI (where he was latterly Chief Operating Officer and Chief Investment Officer, Global Index Investments) and BZW (where Nic was COO and CFO of its Global Equities business).

Commenting on the appointment, Clara Furse said:

"I am delighted to welcome Nic to the Exchange.  He brings with him a tremendous knowledge of the securities industry, together with significant experience in running an exchange business.  We look forward to the positive contribution that he will make in this role."

Nic will take up his position as Managing Director of EDX London on 11 August 2003.

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For further information, please contact:
John Wallace +44 (0)20 7797 1222

Notes to editors:

Nic Stuchfield principal appointments:

About EDX London:
EDX London commenced operations on 30 June.   It is a Recognised Investment Exchange, supervised by the FSA, which has been built on the foundations of the securities derivatives business of the OM London Exchange (originally started in 1989). EDX London is jointly owned by the London Stock Exchange (76%) and OM AB (24%) - combining the strength and liquidity of the London Stock Exchange with the advanced equity derivatives technology of OM AB.

About London Stock Exchange:
The London Stock Exchange is one of the world’s leading equity exchanges and a leading provider of services that facilitate the raising of capital and the trading of shares.

The London Stock Exchange is the most international equities exchange by trading in the world and Europe's largest pool of liquidity.  By the end of 2002, the market capitalisation of UK and international companies on its markets amounted to £3.1 trillion, with £4.6 trillion of equity business transacted over the year.

The London Stock Exchange is a Recognised Investment Exchange (RIE) under the Financial Services and Markets Act 2000 and is supervised by the Financial Services Authority.

About The Stuchfield Consultancy:
The Stuchfield Consultancy is a network of strategy management consultants with an array of experience, in Europe and the US, across the range of Financial Services but focused particularly on the Securities Markets. Its clients include exchanges, brokerage firms (institutional and retail) and fund management companies. The consultancy will continue to operate notwithstanding its founder’s appointment at EDX.