Former Goldman Sachs Partner, Head of LCH ForexClear to Build out Clearing Function, Capitalize on Derivatives Adoption
SAN FRANCISCO, March 23, 2022 /PRNewswire/ — Bosonic, a decentralized Financial Market Infrastructure (dFMI) business with a real-time clearing and settlement service for crypto and digital assets — the ‘Bosonic Network™’ — today announced that Paddy Boyle has joined as Global Head of Clearing and Derivatives.
Boyle, who brings two decades plus of rich financial markets experience to Bosonic, is based in London and reports into CEO Rosario Ingargiola. He is charged primarily with further building out the clearing capabilities for the firm and enabling optimal institutional investor adoption via a burgeoning crypto derivatives marketplace which saw volumes of almost $3 trillion in January, according to CryptoCompare.
Boyle’s significant role and added vertical for the firm comes on the heels of Jason Nabi being named as Chief Revenue Officer in January.
“We could not have asked for a more qualified individual to lead our charge into the fast-growing derivatives arena and Paddy brings a vital new dimension to our offering and value proposition,” said Rosario Ingargiola, Bosonic CEO. “Bringing on someone with his caliber and proven track-record to follow on from Jason joining us demonstrates our clear intent to be a leading player and the pent-up demand for what we have to offer.”
Boyle commented: “Bosonic has built a unique and much-needed platform and I am excited to help build out the derivative and clearing functions of the business.”
Paddy Boyle has a deep background in derivatives markets. He was a Partner at Goldman Sachs where he completed a 16-year stint at the investment bank as Global Head of FX Options. As part of that role, he co-ran businesses on hybrid products combining FX with Equities, Precious Metals, Oil, and Interest Rate derivatives desks. More recently, Boyle was a Managing Director at LCH/LSEG and Global Head of ForexClear, LSEG’s FX clearing service where he increased volumes 15x in less than 5 years. He also acted as Consulting Partner at Turing Experts where he was sole expert witness on a large regulatory investigation in the FX market. He has had a number of FX market Board and Committee Positions during his career including sitting on the Bank of England Joint Standing Committee on FX, FX GlobalClear Board, the Board of the Global FX Division of the Global Financial Markets Association. He received his Bachelor’s and Master’s degrees in Mathematics from the University of Cambridge.
About Bosonic Founded in 2016, Bosonic is a leading decentralized financial market infrastructure “dFMI” company with offices in San Francisco, New York and London providing best-in-class infrastructure that eliminates counterparty credit and settlement risk in Digital Asset markets. The Bosonic Network™ provides institutional clients with a patented solution that is custodian-agnostic, enables tokenization of assets and collateral, provides liquidity aggregation and DMA to the best Exchanges and Market-Makers, and at the core, runs real-time payment vs payment (PvP) atomic execution and settlement, with cross-margining, cross-custodian net settlement and payments. The Bosonic Network™ is delivering infrastructure that’s reshaping the future of Digital Asset markets by eliminating risk and maximizing capital efficiency for hedge funds, family offices, banks, brokers, asset managers and other market participants.
Media Contact: Armel Leslie, Peaks Strategies, [email protected]