The International Derivatives Clearing Group (IDCG) board of directors appointed Garry N. O’Connor as CEO of IDCG.

O’Connor previously served as chief product officer for IDCG. He succeeds Chris Edmonds, who stepped down to pursue other opportunities.

Before joining IDCG, O'Connor spent 17 years in the investment banking industry, pricing and managing interest rate derivative portfolios. He held senior positions in Sydney, Tokyo, Hong Kong and New York with Bankers Trust and Merrill Lynch.

During his time at Merrill Lynch, O’Connor led the Australasian interest rate derivatives trading operation in Sydney and the interest rate swaps trading desk in Tokyo.

O’Connor also helped establish Merrill Lynch’s Asian U.S. dollar interest rate trading business and its North American presence in the European derivatives markets.

While at Bankers Trust, he managed interest rate, foreign exchange, and commodities risk in both Sydney and Auckland.

“We are extremely pleased to have someone of Mr. O’Connor’s extensive experience in the interest rate derivatives markets in a position to lead IDCG to commercial success,” said Vincent Viola, chairman of the IDCG board of directors.

“We are delighted with the selection of Garry O’Connor given his profound understanding of the OTC interest rate markets,” said  Eric Noll, executive vice president of The NASDAQ OMX Group, parent company of IDCG.

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