Digital Securities Exchange Archax Appoints Richard Shade As Head Of Operationsbr>
London-based institutional digital securities exchange Archax has appointed Richard Shade as Head of Operations as it prepares for launch.
Archax, which plans to launch its exchange later this year, is focused on providing a venue for institutions and professional investors to trade in digital securities. The Archax platform selected R3’s Corda Enterprise blockchain platform to handle post-trade activities on a distributed ledger. Its application to operate a multilateral trading facility (MTF) in London is in the final stages of being considered by the Financial Conduct Authority (FCA).
Shade was most recently Head of Custody at crypto exchange BEQUANT and before that was Head of Operations at CME Europe – the CME Group’s UK RIE (Regulated Investment Exchange). He also brings strong institutional operational experience from roles at NYSE Liffe and Bank of Tokyo Mitsubishi, as well as start-up experience from blockchain business UWINCorp.
“As we prepare to launch the first ever FCA regulated digital securities exchange, it is vital that we have the right operational team in place,” said Graham Rodford, CEO of Archax. “With our regulated status and institutional focus, providing the highest levels of operational controls and processes is paramount. Richard brings first-hand experience of running both crypto and traditional venues, and so has the proven skills and abilities needed to head up our exchange operations team.”
“I am excited to be joining Archax at this pivotal moment, as it prepares to launch the first FCA regulated digital securities exchange,” said Shade. “I believe my operational background with financial institutions both large and small, across a multitude of asset classes, positions me well to deliver what is needed and help make Archax the success that it is destined to be.”