London Stock Exchange, Morgan Stanley, London Metal Exchange

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London Stock Exchange is said to have chosen Morgan Stanley’s Andy Ross to run its new futures exchange, which is scheduled to go live before the end of June.

Bloomberg News reports that Ross, a managing director at Morgan Stanley, has been hired as chief executive officer of CurveGlobal, according to a person familiar with the decision who declined to be identified because they lack authorization to speak publicly. Ross declined to comment.

The project is a joint venture with major banks and options exchange, CBOE Holdings.

In the meantime, Reuters reports that half a dozen of the lowest ranking members on the London Metal Exchange with no trading rights, including global miner Rio Tinto, have resigned, the LME said on Friday.

A members' notice announcing the resignations of category 5 members gave no reason behind the moves, although one of the companies has upgraded its membership. A spokeswoman declined to comment.

LSE Said to Hire Morgan Stanley's Ross to Run Derivatives Venue

Half dozen LME members resign, including Rio Tinto

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