ICE promotes Chris Rhodes to run ICE Futures Europe

ICE promotes Chris Rhodes to run ICE Futures Europe

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Intercontinental Exchange has appointed Chris Rhodes as the new head of its European exchange, replacing former president of ICE Futures Europe Stuart Williams who has been promoted to group chief operating officer.

Rhodes, who was latterly the chief operating officer of ICE’s European clearing house, will become on July 1 president of ICE Futures Europe, the London-based futures and options exchange.

A spokeswoman for the group confirmed the appointment.

Rhodes has been chief operating officer at ICE Clear Europe since rejoining the US exchange group at the start of this year after more than two years as head of risk at prop trading firm Tyler Capital

He was global head of financial derivatives at ICE Futures Europe and ICE Futures US for about one year before he left for Tyler.

Rhodes first joined ICE in February 2016 as head of interest rates from Arc Derivatives before being promoted to run financial derivatives in May 2018.

The appointment draws a line under Williams’ tenure as head of the largest ICE exchange. As announced in December, he is moving to the US to become group COO, replacing Mark Wassersug, who becomes chief information officer.

Rhodes’ promotion is part of a larger management reshuffle at the Atlanta-based exchange group.

In the US, Jennifer Ilkiw will become on August 1 the president of ICE Futures US, replacing Trabue Bland who is stepping up to a new role overseeing ICE’s various international futures exchanges.

Ilkiw will relocate to New York from Singapore where she has run ICE’s Asia business for almost 15 years. In Singapore, Maria Levanti will become on August 1 president and COO of ICE Futures Singapore and ICE Clear Singapore. She was previously the head of Pricing and Analytics at ICE Data Services in Asia Pacific.

Levanti will replace Lucas Schmeddes who is moving to Amsterdam to become president and COO of ICE Endex, the European energy futures and options market.

Schmeddes will replace current ICE Endex head Pieter Schuurs who is retiring at the end of next month.

Elsewhere Tim Bowler, the head of ICE Benchmark Administration, is moving back to the US to fill a new role covering ICE’s clearing houses, regulation and new products.

Clive de Ruig, latterly the COO at ICE Futures Europe, will become president of ICE Benchmark Administration on July 1 and Kate Hancock will replace de Ruig as COO of ICE Futures Europe.

ICE Futures Europe is by-far the largest ICE market. The London-based exchange traded over 86 million lots in May, according to the US group.

This was more than double the combined total of ICE Futures US (30 million lots), ICE Endex (3.9 million contracts), ICE Futures Singapore (270,000 lots) and ICE Futures Abu Dhabi (84,000 lots).

ICE's long-standing head of strategy David Goone stepped down from that role in March to become chief executive of digital asset trading firm tZero. ICE said at the time Goone is still advising ICE chief executive and chairman Jeff Sprecher in a consulting capacity.

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