AcadiaSoft, a provider of risk and collateral management services for non-cleared derivatives, has appointed John Shay as its new board chairman.
Shay succeeds Howard Edelstein, who had served on AcadiaSoft’s board of directors since the founding of the company in 2009.
Shay founded and currently serves as managing partner at Capital Market Services, a clearing and execution services business designed to improve market access for the non-bank community in the OTC and exchange-traded markets. He concurrently serves as senior advisor at Broadway Technology and at Virtu Financial, where he advises the firms’ CEOs on FICC-related matters.
“We are thrilled to welcome John to the AcadiaSoft leadership team,” says CEO Chris Walsh. “John has a proven track record of helping companies understand and meet clearing requirements and has developed unparalleled insight into the OTC derivatives market over his long career. As we look to the final phases of the uncleared margin rules and beyond, John’s industry knowledge and relationships will be tremendous assets to AcadiaSoft.”
Shay was previously senior vice president and global head of fixed income and commodities at Nasdaq. He was also a member of the executive committee at the firm and reported directly to the CEO. Prior to that, he served as senior vice president for global markets at Virtu, where he was responsible for managing outside venue, vendor and trading relationships.
Earlier in his career, Shay spent 25 years at ICAP, rising to executive vice president and global head of sales for ICAP Electronic Broking (IEB) for fixed income and FX. He has also served as an advisor to the US Treasury, the Commodity Futures Trading Commission (CFTC), Securities Exchange Commission (SEC), US Federal Reserve and the Bank of England. He was formerly a member of the Treasury Borrowing Advisory Committee (TBAC), Treasury Market Practices Group (TMPG), Foreign Exchange Professionals Association (FXPA) and a board member of LCH Group.
“I am humbled to be joining Chris, the accomplished management team and the active board at AcadiaSoft during these exciting and evolutionary times in the uncleared derivative space,” says Shay. “I look forward to working with this group to help the industry address the many regulatory and technological challenges that lie ahead.”