Patrick Birley

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Patrick Birley
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Patrick Birley was a derivatives exchange and clearinghouse executive who passed away in October of 2023.

Birley was the chief executive officer of the NEX Exchange, formerly known as ICAP, from April 2014 to March 2020.[1] [2] He was also the chief executive of Omni Liber Metu Consulting Ltd in London. He replaced Seth Johnson, the CEO of BrokerTec.[3]

He was previously chief executive of the UK arm of LCH.Clearnet and chief executive of the European Climate Exchange, which was bought by Intercontinental Exchange in 2010. In 2010 he briefly advised the London Stock Exchange on its post-trade strategy. He has also worked at the London Metal Exchange and served as an adviser to NYSE Euronext.[4]

Background[edit]

Birley had more than 20 years of experience in the financial markets.[5] Before joining NEX/ICAP he also ran Goddards brewery on the Isle of Wight.

He began his career in the financial markets as the second employee of the fledgling South African Futures Exchange (SAFEX), which he helped develop into one of the world's most active derivatives exchanges. He served as CEO from 1989 – 2002, starting at age 24; he was the world's youngest exchange CEO at the time.[6] He subsequently led the sale of SAFEX to the Johannesburg Stock Exchange.[7]

Birley left SAFEX following its sale to the Johannesburg Stock Exchange and moved back to the UK, where he joined the London Metal Exchange as director of strategy before moving becoming CEO of the U.K. division of LCH.Clearnet from January 2006 – July 2007. He then served as the chief executive of the European Climate Exchange from June 2007 – October 2010. He served as a senior advisor at the London Stock Exchange (LSE) from October 2010 – August 2011. He was hired to advise on the establishment of a new clearing house that the LSE appeared to be planning at the time and presumably to run that clearing house, though his hiring was never officially announced.[8]

In October 2011, he was appointed as the non-executive deputy chairman of financial PR and strategic consultancy Rostron Parry Ltd. His previous roles also include senior management positions at the London Metal Exchange, FTSE Group[9]

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