Derivatives processing business truePTS, a spinout of digital trading platform operator trueEX, has appointed Zohar Hod as its CEO.
Hod is joining the company from Intercontinental Exchange (ICE) where he most recently was global head of technology and data sales.
TruePTS has seen trading volumes more than triple to $3.2tn over the fiven months from January to May 2016, compared with the same period in 2015, when the business was still part of trueEX.
Commenting on his appointment Hod said, “It was an easy decision to take on this role when I looked at how pressing the need is for innovative post-trade solutions yet how poorly the industry has historically been served. truePTS is responding to the clear demand for a more technologically advanced and competitive derivatives processing solution.”
In March, the service announced an agreement with CME Group, which made it the first independent derivatives post-trade service to provide a single trade reporting API to meet regulatory obligations in the US, the EU, Canada, Singapore, Australia, Hong Kong and Japan.
TruePTS is operating independently from trueEX since January this year.
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