Categorized | Singapore Trading News

Singapore exchange’s McMahon to resign in June

Singapore Mercantile Exchange Sunday said its chief executive, Thomas McMahon, has resigned and will leave his post at the end of June.

The exchange, which commenced operation in August last year, said in a statement McMahon “has decided to move on to pursue his personal interests within the industry, and will do so from Singapore.”

It also said McMahon “will continue to serve SMX until end of June 2011 and will thereafter continue his association with SMX as a member of the Advisory Board of SMX.”

Singapore’s The Sunday Times, citing unnamed sources, said McMahon left the SMX on Friday over “strategy differences” with SMX parent company Mumbai’s Financial Technologies (India) Ltd. (526881.BY). The SMX statement did not elaborate on McMahon’s reasons for resigning but said it is in the process of finding a new CEO.

McMahon, who joined SMX in April 2009, was previously president of the Hong Kong Mercantile Exchange and director of Asia for the New York Mercantile Exchange.

Adapted from MarketWatch (By Sam Holmes)

Leave a Reply

 

Symbol Bid Ask Spread
EURUSD 1.17610 1.17630 2
GBPUSD 1.28340 1.28370 3
USDCAD 1.25370 1.25400 3
USDJPY 109.410 109.430 2
USDCHF 0.96770 0.96800 3
AUDUSD 0.79230 0.79260 3
NZDUSD 0.72930 0.72980 5
EURGBP 0.91620 0.91650 3
EURCHF 1.13820 1.13850 3
EURJPY 128.690 128.720 3
AUDJPY 86.690 86.740 5
GBPJPY 140.420 140.480 6
XAUUSD 1285.49 1285.89 40
XAGUSD 16.978 16.992 1.4