GCSA has a dedicated team of professionals with extensive experience and a unique focus on customizing solutions to meet the changing needs of Financial Market Infrastructure.
David Hardy was previously group chief executive, LCH.Clearnet Group Limited, where he chaired the Group Management Committee and had overall responsibility for the Group’s strategic objectives and financial targets. Prior to the creation of LCH.Clearnet Group in 2003, Mr. Hardy served as chief executive, The London Clearing House Ltd.(LCH).
Mr. Hardy has worked in clearing since 1985, and became managing director of the London Clearing House division of the International Commodities Clearing House in 1987. This division subsequently became London Clearing House Ltd in 1991. Early in his career Mr. Hardy spent 12 years with Barclays Bank where he worked for the main bank and its affiliates. During his time with LCH, the business grew from clearing London based exchange traded commodity futures and options to become the major international CCP, additionally clearing equity, interest rate swap and government debt trades. Widely seen as an innovator in its field, LCH’s groundbreaking OTC clearing service was established a decade before the present recognition of the benefits of centralized clearing for such products.
Mr. Hardy was a member of the Commodity Futures Trading Commission Global Markets Advisory Committee (GMAC). In the UK, he has served on the Boards of the Futures and Options Association and the Financial Service Authority’s Financial Services Practitioner Panel, which represents a cross-section of regulated firms. From 1993 to 1999, he served on the boards of the International Petroleum Exchange (1993-1999) and the London Commodity Exchange from 1991 until its merger with the London International Financial Futures and Options Exchange in 1996. David Hardy is a Freeman of the City of London and was inducted into the Futures Industry Hall of Fame in 2009.
Read David Hardy’s profile as featured in Risk Magazine.
Mr. Cononico was an Executive Director and proprietary trader for the Credit Investment Group of Nomura Securities International, where his responsibilities included trade origination and risk management for a $5.5 billion credit book. Following Lehman Brothers’ demise in 2008, this individual’s team was also responsible for winding down the firm’s multi-billion workout book, which included bankruptcy claims, structured finance products, and illiquid legacy investments from across the firm. His market knowledge is across a wide range of markets and financial products including investment grade and high yield bonds in both developed and emerging markets, project finance, credit default swaps, structured products, treasury securities, interest rate derivatives, and equities.
Prior to joining the Credit Investment Group, Mr. Cononico was a Vice President in the firm’s private placement group and was head of US syndication for illiquid securities. Prior to joining Nomura in 2004, Mr. Cononico worked at Deutsche Bank in the areas of Debt Capital Markets and in the Investment Banking division. Prior to joining Deutsche Bank in 2000, he had several years of start-up experience.
Mr. Cononico is a Chartered Financial Analyst (CFA) and has a BS from the Wharton Business School with concentrations in finance and entrepreneurial management, where he graduated Magna Cum Laude. He also has a Masters in Engineering (MSE) from Penn Engineering in the Management of Technology in a program that was co-sponsored by the Wharton School.
Mr. Filler is currently a Professor of Law, Director of the Financial Services Law Institute and Program Director of the LL.M in Financial Services Law at New York Law School and Chair of the Editorial Advisory Board of the NY Business Law Journal. Mr. Filler is also a Public Director and Member of the Executive Committee and Governance Advisory Committee of the National Futures Association, a Public Director of the Board of Directors of SWAP-EX, a swap execution facility (SEF) owned by State Street Bank, Chair of the Regulatory Oversight Committee (ROC) of SWAP-EX, a member of the Risk Advisory Committee of New York Portfolio Clearing, and a member of the Board of Trustees of The Clearing Corporation Charitable Foundation.
Previously, Mr. Filler was the past Chairman of the Global Market Advisory Committee (GMAC) of the US CFTC, a Public Director of the Board of Directors of NYSE LIFFE US, a member of the Regulatory Oversight Committee of NYSE LIFFE US, a Member of the Business Conduct Committee at NYMEX, a member of the Board of Directors of The Clearing Corporation, a member of the Clearinghouse Regulatory Oversight Committee of CME, Vice Chairman of BrokerTec Clearing Corporation, Chairman of the Rules Committee of the BrokerTec Futures Exchange and BrokerTec Clearing Corporation, Chairman of the FIA Survey on Electronic Trading, President and member of the Executive Committee of the FIA Law and Compliance Division, member of the Risk Management Committee of the FIA, Chairman of the Futures Law Committee of the Chicago Bar Association, Chairman of the Sub-Committee of Futures Commission Merchants of the Futures Regulation Committee of the American Bar Association, and a Member of the Board of Directors of the MidAmerica Commodity Exchange.
Previously, Mr. Filler was a Managing Director of Institutional Futures Administration in the Capital Markets Prime Services Division at Lehman Brothers (from 1993 to 2008), a Managing Partner at Filler Weiner Zaner & Associates, a Futures Commission Merchant (FCM) and Commodity Pool Operator (from 1980-1985), and an Attorney at the U.S. Securities & Exchange Commission. Mr. Filler has served as Panelist on over 300 industry panels, is a co-author of a law treatise (Regulation of Financial Derivative Instruments – Swaps, Options and Futures), has authored numerous articles and papers, has served as a Professor of Law and serves on the Board of various Charitable Organizations. He has a B.A. from the University of Illinois, a J.D. from George Washington University law School, and an LL.M in Taxation from Georgetown University law Center.
Mr. Comiskey recently served as Vice President in the Treasury Services Group of Nasdaq OMX. His responsibilities included acting as the exchange and clearinghouse Central Risk Controller responsible for managing global counterparty risk as well as developing and implementing risk management policy. Additionally he headed efforts to manage default risk capital for Nasdaq’s global clearinghouses, and, in addition, had day-to-day managerial responsibility for the risk management operation of Nasdaq’s North American commodity clearer, NOCC, based in Chicago.
Prior to joining Nasdaq OMX, Mr. Comiskey was a Vice President in the Global Structured Products Group of Radian Asset Assurance where he was the Head of the Financial Solutions Group. In that role he was responsible for originating and underwriting risk management/transfer products for financial institutions including soft capital for clearinghouses, excess SIPC protection, as well as policies customized to protect money market funds. In that role his group established a market leading portfolio amounting to over $1 billion in notional protection to leading financial institutions around the world. Before departing Radian in 2009, he also served as Senior Vice President in charge of Structured Products Risk Management where he was responsible for a team of 6 risk mangers monitoring a multi-billion dollar book of credit enhanced CDO and asset backed transactions.
Mr. Comiskey joined Radian in 2001 from Fitch Ratings in New York where he was a Director and analyst for money center banks, global custodial banks, and broker dealers. Previously, he held a similar analyst position at Standard & Poor’s Ratings Services. He also served with J.P. Morgan and Barclays Capital where as a Team Leader and Director of credit risk management responsible for approving and managing credit and market exposure to the regulated U.S. brokerage and commercial banking industries.
Mr. Jin was an Executive Director at Nomura Securities where he led a credit quant team in New York that supported the credit trading desk, which included structured credit, flow credit, and CVA. His responsibilities included model development and implementation, pricing library development and enhancement, as well as trading and risk management tools creation for both vanilla and structured credit products. Prior, he worked at Nomura building models for credit and interest rate products and oversaw MBS prepayment and OAS model development.
Prior to Nomura, Mr. Jin held positions at CIBC World Market, Cinergy, and John Hancock Financial Services in quantitative research and risk management covering financial products in commodities, interest rates, and insurance. Prior to that, Mr. Jin was a Visiting Assistant Professor in mathematics at Worcester Polytechnic Institute and Indiana University.
Mr. Jin holds a PhD in mathematics from NYU and a Bachelor of Science from Tsinghua University in Beijing, China.