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Clearing Corporation Appoints Dr. Stanislav Ivanov
to Chief Risk Officer Position
Chicago, June 9, 2008 – The Clearing Corporation (CCorp) today announced the appointment of Dr. Stanislav Ivanov as Chief Risk Officer, effective June 16, 2008. Prior to joining CCorp, Dr. Ivanov held the positions of First Vice President of Quantitative Risk Management at The Options Clearing Corporation and Chief Risk Officer at LJM Partners. Dr. Ivanov will be responsible for development of CCorp's OTC risk management systems as well as oversight of daily risk management functions for CCorp's existing exchange traded products. His appointment reflects CCorp's increased emphasis on delivering high quality risk management services to the OTC derivatives market. "Our expanding presence as a central counterparty services provider to the OTC markets requires that we provide those markets with the same standards of safety and soundness that we have traditionally provided to our exchange customers," said Michael C. Dawley, Chairman of CCorp. "Stan's appointment to the newly created Chief Risk Officer position underscores our commitment to provide the highest levels of risk management protection to the markets we clear". Dr. Ivanov, 39, is a recognized industry expert in the areas of risk management and quantitative modeling. While at OCC, he led the development and implementation of a new generation risk management system, and was responsible for all quantitative modeling efforts. More recently, Ivanov has launched LJM Partners' new risk management platform. Dr. Ivanov holds advanced degrees in Financial Mathematics from The University of Chicago, and Chemical Physics from Tulane University.
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