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SL-x Group makes key hires
27 August 2013
Ahead of launch of online clearing platform for securities lending and borrowing
New capital markets electronic trading firm SL-x Group (SL-x) has made three strategic hires ahead of the launch of its online platform for the securities lending and borrowing markets.
Former chief financial officer of Chi-X Global Holdings, Richard Dellabarca, takes up the same position at SL-x in London.
The firm also hired Nancy Gardner as general counsel, based in New York. She is a corporate lawyer who has acted as general counsel and executive vice president of the markets division at Thomson Reuters.
Dr Marc Gerstein becomes strategy director in SL-x's New York office. He is a consultant, author and speaker who has worked for various companies including Instinet Corporation, KPMG and Citibank.
SL-X's new platform is due to go live by the end of the year in Europe, and then globally in 2014. It will provide a clearing system for securities lending transactions between investment banks representing borrowers and custodian banks representing lenders. The launch is still subject to regulatory approval.