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Further Exit from LCH

Basu Choudhury, who has served as executive director, head
of product for ForexClear at LCH.Clearnet in London, is believed to have
resigned his position at the end of last week.

& Loss reported last week that Gavin Wells, global head of ForexClear,
departed the clearing house
over reports that ForexClear is being rolled
into SwapClear. Sources tell Profit & Loss that the clearing house is still
very much committed to FX clearing.

Sources say that while Choudhury resigned last week, he is
still considering other options at the clearing house.

Prior to joining LCH
Clearnet in August 2011,
worked as Murex specialist at a number of firms, last at Standard Bank.


Galen Stops

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