Jung Seok-ho, Head of Clearing and Settlement at Korea Exchange, Elected as CCP12 Executive Committee Member

by Lee Myeonghwan

Published 23 Jun.2022 10:33(KST)

[Image source=Yonhap News]

[Asia Economy Reporter Myunghwan Lee] The Korea Exchange announced that Jeong Seok-ho, Head of the Clearing and Settlement Department, was elected as an executive committee member at the CCP12 General Meeting held on the 22nd (local time) in Madrid, Spain.

CCP12 is an international association composed of 41 central counterparties (CCPs) from 28 countries that perform clearing and settlement operations in financial product markets. It operates with the purpose of enhancing expertise in clearing and risk management to improve the safety and efficiency of global financial markets and contributing to the establishment of an efficient global CCP regulatory framework.

A Korea Exchange official explained that Jeong’s election as an executive committee member of CCP12 was highly evaluated for his contributions to the Korea Exchange’s efforts to perform stable clearing and settlement and strengthen risk management systems, as well as his consistent activities within CCP12.

They added, "It is significant that at a time when the importance of CCPs is increasing following the 2008 global financial crisis, this provides a foundation for collaboration with global CCPs in various areas such as advanced risk management and expansion of cleared products."

Jung Seok-ho, Head of Clearing and Settlement at Korea Exchange, Elected as CCP12 Executive Committee Member