Deutsche Borse AG, the Frankfurt headquartered provider of global marketplace popularly known as parent firm of several major European exchanges recently revealed in an announcement that it has decided on a new head for its TSO Leadership. Less than three months after the firm announced resignation of one of the firm’s longest serving executive from his role as head of Trading Surveillance Office, the company has decided on successor for the role and is promoting yet another long serving executive to the role TSO’s leader. As Mr. Michael Zollweg steps down from his role as Head of Trading Surveillance for the group effective on 31st December 2019, he will be succeeded by Mr. Andreas Mitschke, Head of Unit Trading Surveillance at Eurex Deutschland. Eurex exchange is a wholly owned subsidiary of Deutsche Borse AG and is known across global financial market as largest international marketplace for European futures and options instruments.
Andreas similar to Michael is an executive who has been with the firm for nearly two decades now. Andreas joined Eurex back in August of 2000 in the role of Trading Surveillance Expert and held the role for 12½ years post which he was promoted to his current role of Head of Unit Trading Surveillance bringing his total term with the firm to 19 years and 5 months well near two decades. Prior to his term with Eurex, he served as an Investment Advisor for Deutsche Bank for nearly nine years and held a role in identical capacity with Stockholm based banking service provider SEB for an year making him a veteran with nearly three decades of experience in financial services industry and an ideal candidate to fill in the large gap created when Mr. Zollweg steps down from his current role. It should also be noted that Mr. Zollweg still remains a part of Deutsche Borse AG and will serve as a consultant for the TSO post stepping down from his current role and is expected to remain with the company for at least an year before parting ways in search of new endeavors.
The TSO (Trading Surveillance Office) is in-charge of supervising all trading activities taking place in the company’s subsidiaries namely – cash marketplace Frankfurt stock exchange and derivatives marketplace Eurex. While the office is a part of Deutsche Borse AG, it operates as an independent supervisory body for the exchanges in accordance with the German Exchange Act to ensure cross-exchange surveillance takes place under one roof. This enable easy access and interaction between both markets when performing regulatory analysis while also making it easier for market participants to contact TSO directly in case they notice anything suspicious or irregularities in trading activities. Commenting on Mr. Mitschke’s promotion, Martin Reck, Board Member of Frankfurt stock exchange said, “With Andreas Mitschke, we have found a new Head of Trading Surveillance with many years of expertise in this area. In his current position, he has strongly advanced monitoring in fully electronic trading over the last few years, not least by integrating a statistical analysis of data from social media”.
Source:
- https://deutsche-boerse.com/dbg-en/media/press-releases/Andreas-Mitschke-to-become-new-Head-of-Trading-Surveillance-Office-1674014
- https://theindustryspread.com/blog/2019/09/21/deutsche-borse-trading-surveillance-head-quit/
- https://www.linkedin.com/in/andreas-mitschke-9a93852/
- https://www.linkedin.com/in/michael-zollweg-6a4a84161/?originalSubdomain=de
