Simon Gallagher
Simon Gallagher is a British exchange executive who serves as chief executive officer of Euronext London and head of global sales at Euronext, and is a member of the managing board of Euronext N.V.[1] He has held senior roles overseeing cash equity and derivatives markets and sits on the boards of Oslo Børs and Euronext Clearing.[2] Background[edit]Gallagher joined Euronext in the early 2000s after working in the oil and gas sector, where he held positions in finance, sales and strategy that exposed him to commodity price cycles and the use of futures and options for hedging and capital allocation.[3] This early exposure to energy markets and corporate risk practices provided context for his later work on exchange-traded derivatives and price discovery mechanisms in European markets.[4] Within Euronext, Gallagher initially held roles in corporate finance and strategy, contributing to projects that accompanied the group’s evolution from a multi-country stock exchange operator into a broader market infrastructure provider offering cash equities, derivatives, fixed income and post-trade services.[5] These strategy and finance roles placed him at the intersection of regulatory change, technology investments and the integration of different national markets into Euronext’s single electronic trading platform architecture.[6] Head of cash equity trading[edit]From 2014, Gallagher served as head of cash equity trading at Euronext, responsible for market model design, pricing and client programmes across the group’s domestic exchanges.[7] In this capacity he worked on the organisation of central limit order book trading, including time/price priority and tick size regimes, as well as incentives intended to support liquidity provision by banks, proprietary trading firms and other institutional investors.[8] The period during which he led cash equity trading coincided with significant changes in European market structure, including the continued impact of MiFID II, competition from multilateral trading facilities and systematic internalisers, and the growth of algorithmic and high-frequency trading on exchange order books.[9] Gallagher’s role placed him in discussions about match engine performance, average daily volume trends, and open interest in related derivatives as Euronext adjusted its offerings to changes in order routing and best execution obligations.[10] Head of cash and derivatives[edit]In 2018, Gallagher became head of cash and derivatives at Euronext, with overall profit and loss responsibility for both franchises and oversight of product design, market model, pricing, and liquidity programmes.[11] The role covered equity and index futures and options, commodity and interest rate contracts, and associated contract specifications and fee schedules across Euronext’s markets.[12] During this period, Euronext pursued acquisitions and integrations, including the addition of Oslo Børs and expansions in fixed income and power derivatives, which required coordination between product specialists, technology teams and central counterparties to align settlement cycles, margin methodologies and risk management frameworks.[13] Gallagher’s responsibilities included working with market participants such as asset managers, swap dealers and banks on the design of new contracts and liquidity schemes aimed at supporting hedging and price discovery in both equity and fixed income markets.[14] CEO of Euronext London and head of global sales[edit]In November 2023 Gallagher was appointed CEO of Euronext London and head of global sales, subject to regulatory and shareholder approvals, and subsequently became a member of the managing board of Euronext N.V..[15] The London role marked a return to the UK after around two decades based in Paris with Euronext, and placed him in charge of the group’s UK office, which focuses on servicing UK-based issuers and trading clients and supporting cross-border access to Euronext markets.[16] As head of global sales, Gallagher’s remit extends across Euronext’s equity, derivatives, fixed income, commodities and data businesses, coordinating client coverage and commercial strategy across domestic exchanges including Paris, Amsterdam, Brussels, Dublin, Lisbon, Milan and Oslo.[17] Interviews and public appearances in this role have focused on topics such as integration of acquired venues, the balance between primary and secondary market services and the importance of liquidity support schemes in both cash instruments and futures and options listed on Euronext platforms.[18] Board positions and governance roles[edit]Gallagher serves as a director of Euronext Clearing and Oslo Børs, giving him responsibilities for clearing and settlement infrastructure and for oversight of regulated markets within the group.[19] At Euronext Clearing he participates in governance of a central counterparty that clears cash equities, derivatives and other instruments, including decisions on margin models, default management processes and links with other central counterparties.[20] At Oslo Børs, his board position is associated with integrating the Norwegian exchange into Euronext’s multi-market structure, including alignment of trading rules, electronic trading systems, and connections to central counterparties and custody providers that serve Nordic and European institutional investors.[21] These roles reflect a broader industry context in which exchanges and clearing houses have become interconnected infrastructures for price discovery, risk management and settlement across asset classes, including bond and cash-settled derivatives markets.[22] Public engagement and industry involvement[edit]Gallagher has participated in industry forums such as the FIX Trading Community, where he has discussed exchange technology, market structure, and client engagement topics in the context of evolving trading protocols and regulatory expectations.[23] He has also appeared in media and podcast interviews outlining his perspectives on European equity and derivatives markets, including the role of London as a hub for international trading in instruments listed on continental European exchanges.[24] In these settings, Gallagher has addressed themes such as the impact of Brexit on cross-border access, the importance of stable and transparent match engine performance for liquidity providers, and the need for exchanges to balance price discovery with efficient risk management in listed derivatives.[25] His involvement in such discussions reflects the broader historical environment in which European exchanges compete and cooperate on technology standards, market data, and clearing while responding to regulatory initiatives from ESMA and national authorities.[26] Education[edit]Gallagher holds a Bachelor of Science degree in French and economics from the University of Surrey.[27] He later completed a Master of Business Administration and a master’s degree in philosophy at the University of Birmingham, combining training in finance and management with studies in analytical and ethical reasoning.[28] In addition to his university degrees, Gallagher is a CFA charterholder, indicating completion of the Chartered Financial Analyst program that covers investment analysis, portfolio management, and ethical and professional standards relevant to asset managers, banks, and other institutional investors. References[edit]
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