Cloud services, machine learning and leaps in the speed and distribution of data are making technology buys and implementation somewhat easier. But todayвЂ™s technology is allowing NEX and many other players to make the move in a much more seamless way than before. Now it is a technology company that acquires other data and technology companies, and runs a few exchanges too. Now weвЂ™re a technology firm that happens to own exchanges.вЂќ The Intercontinental Exchange used to be an exchange that acquired other exchanges and clearing houses. In the words of Nasdaq Vice Chairman Sandy Frucher: вЂњWe used to be an exchange that owned technology. What is also interesting about the approach, however, is that from a technology services standpoint, NEX is happy to grab solutions that are decidedly not NEX products or services if it makes the client happy.ДЄs such theyвЂ™ve taken on some of the identity of modern exchanges, which do many things besides count pennies for every trade and cleared contract. Where those companies used to work and run largely as siloed operations under a loose ICAP umbrella, they now are firmly in the fold вЂ“ aimed at offering solutions all along the transaction chain. The VC can add the pieces it needs along the way. From there, they can sell all of those things вЂ“ EBS BrokerTec along with its menu of complementary technology, like Traiana, Trioptima, Enso and Reset. In a simplistic sense, the company is rolling all of its trading platforms, technology companies and venture capital arm into one firm. So whatвЂ™s left? Plenty actually, although it took me a while to figure it out. But it just isnвЂ™t what he wants to do with his time or shareholder money. Such is the case with NEX Group, the former ICAP group minus the ICAP voice brokerage business.Д«y now, we know that NEXвЂ™s CEO Michael Spencer looked to the future and decided that voice brokering wasnвЂ™t it. His role leading the transformation programme is a key priority for NEX and his promotion to the board reflects its importance and our increased focus on technology.JOHN LOTHIAN | Sometimes the machine needs a reboot. Spencer commented: вЂњKen Pigaga has been a pillar of delivery and reliability since joining us over 10 years ago.

Pigaga has been with the firm since 2006, when he joined as COO for ICAP Americas. In addition to these changes, Ken Pigaga, global COO of NEX, is joining the board as a director, also with immediate effect.ДЄccording to NEX, PigagaвЂ™s appointment reflects his importance in the companyвЂ™s вЂtransformation programmeвЂ™ and its increasing focus on technology and cyber security. Since joining us in 2009 she has consistently impressed the board and executive management with her capabilities and talents and this has been recognised today with her appointment as Group CFO.вЂќ Spencer said: вЂњSamantha WrenвЂ™s varied financial, operational and commercial experience positions her ideally for this role. She is also a non-executive director of City of London Investment Trust, where she is chair of the audit committee. She has held several roles including CFO and COO in the global broking decision, and was made chief commercial officer in March last year. Wren joined ICAP in 2009, before it was rebranded as NEX. I have enjoyed working with and, with the rest of the board, wish him the very best for the future.вЂќ Michael Spencer, CEO of NEX Group, said: вЂњI would like to personally thank Stuart Bridges for the significant role he played in securing the transaction with TP ICAP. He is credited with playing a key role in NEXвЂ™s merger with TP ICAP. Samantha Wren, currently chief commercial officer for NEX Markets, will take over the role and will also take BridgesвЂ™s place on the board, effective immediately.Д«ridges has been CFO since September 2015, and was appointed to the board in February 2016.

NEX Group has seen a leadership reshuffle, as group CFO Stuart Bridges steps down from the board and announced his plans to leave the company later in the year.

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