Tradition has appointed Robert Pickel as non-executive director to the board of its US Swap Execution Facility (SEF), TraditionSEF.

Last year, Pickel stepped down from his position as CEO of the International Swaps and Derivatives Association (Isda).

"Bob brings a tremendous network of relationships and a wealth of knowledge and experience to Tradition," said Scott Fitzpatrick, CEO of TraditionSEF. 

"We are delighted that he recognises the value of Tradition's SEF strategy and has agreed to join our SEF Board." 

Pickel joined Isda in 1997 and, as CEO, led the OTC derivatives industry through a period of significant reform in the face of numerous regulatory reform, including the Dodd-Frank Act, European Market Infrastructure Regulation (Emir) and Basel III.

"Swap execution facilities are playing an increasingly important role in derivatives trading and the market landscape and this is only set to continue over the coming years," said Pickel.

"Tradition's electronic trading capabilities has grown significantly in recent years, and SEF-compliant trading is a core part of the group's ongoing strategy in the US and abroad" said group chief operating officer Mike Leibowitz.