Speakers
Nandini Sukumar
Chief Executive Officer, The World Federation of Exchanges
Nandini Sukumar is the Chief Executive Officer of the World Federation of Exchanges, the global association for exchanges and CCPs. The WFE represents more than 250 exchanges and clearing houses globally, educating stakeholders on the vital role played by market infrastructures in the real economy and as a standard setter, finding the consensus on issues among the global membership. Of our members, 37% are in Asia-Pacific, 43% in EMEA and 20% in the Americas. WFE’s 87 member CCPs and clearing services collectively ensure that risk takers post some $1.1 trillion (equivalent) of resources to back their positions, in the form of initial margin and default fund requirements. WFE exchanges, together with other exchanges feeding into our database, are home to over 49,054 listed companies, and the market capitalisation of these entities is $116.58 trillion; around $155 trillion (EOB) in trading annually passes through WFE members (at end 2024). Ms. Sukumar is Vice Chair of IOSCO’s Affiliate Members Consultative Committee and Chair of the AMCC’s Sustainability Taskforce.
Christian Sjöberg
President, Nasdaq Clearing AB
Christian Sjöberg brings over two decades of international experience in post-trade infrastructure, clearing, and financial market operations. He has held senior leadership roles across Europe, the Middle East, and Asia, with a strong track record in building and transforming market infrastructure organizations. He joined Nasdaq in 2022 as Head of Business Development & Portfolio Strategy for Post Trade, where he has driven strategic initiatives supporting exchanges, CCPs, and CSDs globally. Prior to Nasdaq, Christian held senior roles at major market infrastructure organizations including HKEX, SIX x-clear, and Oslo Clearing, with a focus on clearing, risk management, and operational transformation.
John McKenzie
Chief Executive Officer, TMX Group, & Chair, The World Federation of Exchanges
Mr. McKenzie is a member of the TMX Group Board of Directors and also a member of the Board of Directors of several TMX Group subsidiaries.
Mr. McKenzie has worked for TMX for over 20 years; prior to his appointment as CEO on August 17, 2020, he served as Chief Financial Officer and was responsible for corporate strategy, corporate development, investor relations and the financial management of the company as well as for the administrative oversight of TMX Group’s Capital Formation business. He has led various TMX acquisitions, including the Maple transaction, and the acquisitions of Montréal Exchange and Trayport.
From July 2015 to August 2016, Mr. McKenzie served as President of CDS, Canada’s equity and fixed income clearing house and a wholly-owned subsidiary of TMX Group. Prior to that he was the Chief Operating Officer (COO) and CFO of CDS.
Mr. McKenzie is a Chartered Professional Accountant (CPA, CMA) and has an MBA from Edinburgh Business School, Heriot-Watt University and an Honours BA from Wilfrid Laurier University. He has served on a number of boards, and is currently the Working Committee Chairman of the World Federation of Exchanges, and a Board Member and Treasurer for the Hamilton Health Sciences Foundation.
Jiyouji Ueda
Executive Director of CCPs, Securities and Derivatives, Grupo Bolsa Mexicana de Valores (Grupo BMV)
Jiyouji Ueda has over 25 years of experience in risk management, clearing, and settlement across derivatives, equities, and fixed-income markets. He is currently leading the implementation of the Debt CCP, integrating government repos and federal public debt instruments, as well as overseeing the transition of rates in the derivatives market. As Executive Director of CCPs, Securities and Derivatives at Grupo Bolsa Mexicana de Valores, he has driven the development of advanced margin and risk methodologies, T+1 settlement, and the introduction of new financial products such as futures, options, and swaps. His focus on operational resilience, ISO standards, and financial system stability has strengthened market infrastructure. Recognized with the Risk Award 2019, Ueda has actively contributed to the evolution of the CCP ecosystem.
Huan Zhang
Chief Risk Officer, Nodal Clear
Mr. Zhang serves as the Chief Risk Officer for Nodal Clear, overseeing the Risk Team. Prior to this role, Mr. Zhang spent almost two years in China managing the clearing operations at the Dalian Commodity Exchange and leading the product and operations team at the newly-established Guangzhou Futures Exchange. Mr. Zhang began his career at Dean & Company as a strategic consultant and then worked at Nodal Exchange in market administration and risk management roles for 10 years. Mr. Zhang holds a Ph.D. in Chemical Engineering and an MSCEP from the Massachusetts Institute of Technology, and a M.Sc. and B.Sc. in Chemical Engineering from Tsinghua University. He is a Chartered Financial Analyst (CFA).
Tao Chen
Group Head of Quantitative Risk Management, Hong Kong Exchanges & Clearing (HKEX)
Tao Chen is the Group Head of Quantitative Risk Management at Hong Kong Exchanges & Clearing Limited. He worked at the London Metals Exchange prior to his relocation to Hong Kong in 2020, where he established and headed the Quantitative Risk department. Prior to his role at the LME, he has worked extensively in the investment banking industry – primarily in London.
Prof. Paolo Saguato
Professor of Law, Antonin Scalia Law School, George Mason University
Paolo Saguato is a Professor of Law at Antonin Scalia Law School, George Mason University, specializing in financial regulation. His research interests encompass the intersection of banking, securities and derivatives regulation and the international and comparative dynamics of financial markets. Professor Saguato serves as a member of the ESMA Consultative Working Group of the CCP Policy Committee. In addition, he is the co-editor of “Financial Markets Infrastructures: Law and Regulation,” recently published by Oxford University Press, and the author of multiple academic articles on clearinghouses and financial market infrastructures.
Before joining Antonin Scalia Law School, Professor Saguato was a Research Fellow at the Georgetown Law Center, a Fellow at the London School of Economics and Political Science, and a Global Hauser Fellow at New York University School of Law. Professor Saguato earned a BA (Laurea in Scienze Giuridiche) and a JD (Laurea Magistrale in Giurisprudenza) summa cum laude at the University of Genoa (Italy) and a PhD in Private, Business, and International Law at the same university. In addition, he holds a LLM from Yale Law School, which he attended as a Fulbright Scholar, where he focused his studies on financial markets regulation and corporate law and was a senior editor of the Yale Journal on Regulation.
Angelina Kwan
Chief Executive Officer, Stratford Finance
Angelina is a passionate advocate for technology, digital assets, and blockchain, with a strong focus on advising start-ups. She currently serves as the Chief Executive Officer of Stratford Finance, a consulting firm dedicated to addressing regulatory and operational challenges in the financial services and digital assets sectors. In this role, she provides expert guidance to brokerages, fund managers, and technology providers.
Ms. Kwan is an experienced financial services executive with a robust background in senior management roles at prominent organizations, including Hong Kong Exchanges and Clearing Limited (HKEX), the Securities and Futures Commission (SFC), Cantor Fitzgerald, CLSA, Dresdner Kleinwort Benson, and HG Asia/ABN AMRO.
She is particularly knowledgeable in the digital asset space, having previously served as the Global Chief Operating Officer of BitMEX and the HashKey Group. In these roles, she has also consulted for and advised brokerages, fund managers, and technology providers on regulatory and operational matters.
In addition to her corporate responsibilities, Angelina contributes her expertise to various Hong Kong government boards and committees, including the New Business Committee of the Financial Services Development Council; Cantonese Opera Development Fund Investment Committee member. She chairs The Women’s Foundation and serves on the boards of the Ebenezer School for the Blind, the University of Wollongong Hong Kong, Web3 Harbour, as well as Chevalier Hong Kong and Zurich Life Insurance, Hong Kong.
Angelina is a Certified Public Accountant in the United States, Hong Kong, Australia, and New Zealand. She holds a bachelor’s degree from the University of Southern California, an MBA from Pepperdine University, an LLB from the University of Hong Kong/Manchester Metropolitan University, and an LLM from Harvard Law School.
Val Wotton
Managing Director and Global Head of Equities Solutions, DTCC
Valentino (Val) Wotton is Managing Director and Global Head of Equities Solutions. In this role, he is responsible for NSCC equity clearing of trades executed on major U.S. exchanges and other equity trading venues and DTC the central securities depository which completes the transfer between trading parties of securities and cash. He also leads the firm’s global middle-office trade processing solutions, including CTM, ALERT and TradeSuite ID. Working closely with his global team, clients, industry organizations and his peers, Val focuses on setting business strategy, growing and enhancing services, and delivering increased value to clients, enabling them to meet evolving operational, risk and regulatory compliance demands such as global accelerated settlement and extended trading hours (24x5) efforts. Additionally, Val leads enterprise-wide modernization efforts at DTCC and is the Regional Administrative Manager for DTCC EMEA, Chairman of the DTCC EMEA Operating Committee, and a voting member on the DTCC ITP LLC Board.
Prior to this role, Val was Managing Director of Product Development and Strategy, Repository and Derivatives Services, where he was responsible for overseeing the firm’s Global Trade Repository (GTR), Trade Information Warehouse (TIW) and Report Hub services.
Before DTCC, Val served as Managing Director Head of Global Markets Post-Trade Services, Network Management and EMEA Markets Operations at Barclays. There, he was responsible for the implementation of a strategic global operational model to provide improved post-trade service capabilities to clients and internal businesses as well as the design and delivery of strategic architecture to achieve automation, process improvement and risk management objectives. Previously, Val held several senior roles at Citigroup.
During his career, Val has served on several Boards and Committees, including SIFMA’s Operations and Technology Committee, DTCC’s Deriv/SERV Board, LCH OTC Deriv Net, and the International Swaps & Derivatives Organization’s (ISDA) Market Infrastructure & Technology Committee (MITOC).
Val holds a Bachelor of Law (with French) degree from Nottingham Trent University.
Serhan Gokturk
Chairman, Abu Dhabi Clear
Serhan Gokturk is the Chief Risk Officer at Abu Dhabi Securities Exchange (ADX), where he leads enterprise-wide risk management activities, addressing operational, technological, financial, strategic, legal, and environmental risks by maintaining a systematic and integrated risk methodology.
He is a capital markets professional with 25 years of experience in securities exchanges industry, primarily focusing on risk management, audit, and market surveillance functions. Before joining ADX in 2022, Serhan held several technical and managerial roles at Borsa Istanbul and the Saudi Tadawul Group, where he actively contributed to various transformation projects.
Mr. Gokturk holds a Master’s (MSc) in Capital Markets from the University of Reading (ICMA Centre), an Executive MBA from Istanbul Technical University, and is a Ph.D. candidate in Economics at Istanbul University. He also holds several professional certifications (CIA, CFE, ICMAc, ISO22301) and provides training and advisory sessions at various institutions, including the EU Joint Research Centre, ACFE, IIA, and Cambridge University.