EuroCCP has a two-tier board structure under Dutch corporate law. In addition, its governance structure is designed to enable stakeholders – both Clearing Participants who pay for services and platforms which give EuroCCP access to their trade feeds – to advise management of their service requirements. EuroCCP’s governance structure complies with EMIR requirements.
EuroCCP’s Chief Risk Officer and Chief Compliance Officer have direct access to the Audit Enterprise and Compliance Committee of the Supervisory Board, while the Head of Internal Audit must make reports to the Audit Committee of the Supervisory Board.
EuroCCP governance structure overview as of 31 December 2020:
EuroCCP’s Supervisory Board consists of five members: two independent members and three members nominated by Cboe as 100% shareholder.
The Supervisory Board consist of the following members:
- David Howson, EVP, President, Europe and Asia-Pacific, Cboe Global Markets - Chairman
- Stephanie Renner, Chief Financial Officer, Cboe Europe - Member
- John Deters, Chief Strategy Officer, Cboe Global Markets - Member
- Peter Bezemer, financial services consultant, former member of the Executive Committee of Euronext - Independent Member
- Clotilde Bouchet, independent consultant, former Deputy CEO of Credit Immobilier de France - Independent Member
The Supervisory Board has three committees:
- The Audit Enterprise Risk and Compliance Committee advises the Supervisory Board on the effectiveness of the company’s internal audit function (financial accounting, the role and functioning of the internal auditor and the appointment of the external auditor) and on the effectiveness of the company’s enterprise risk management and compliance with regulatory obligations.
- The Remuneration Committee oversees the Company's remuneration strategy and principles for members of the Management Board. It reviews the policies and general principles on which the Company’s compensation plans are based. The Remuneration Committee performs its task in preparation for decision-making by the Supervisory Board. For the key elements of the Company’s remuneration policy, please see here.
- The Nomination Committee makes recommendations for the appointment of independent members of the Supervisory Board.
EMIR Risk Committee
The EMIR Risk Committee is an EMIR-required risk advisory committee that is currently composed of three representatives from Clearing Participants, one representative from clients of Clearing Participants, and one independent member of the Supervisory Board, in compliance with EMIR requirements.
The Management Board consists of 3 members:
- Cécile Nagel, Chief Executive Officer.
- Arnoud Siegmann, Chief Operating Officer.
- Edward Hughes, Chief Technology Officer.
Other information available upon request and free of charge: