Another step forward for Scotland's new stock exchange

A head of market operations has been appointed for Scotland’s first stock exchange since the 1970s.

Andy Clarkson will be head of market operations. Picture: Contributed

Andy Clarkson, who brings 30 years’ experience in asset management, will oversee all operational aspects of trading, clearing and settlement activities.

He will work with Helen Webster, chief operating officer, in bringing the exchange to operational readiness. One of his initial roles will be to oversee the acceptance testing of the proposed exchange’s trading platform.

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Earlier this year, it was revealed that the exchange will have its HQ at 39 George Street in the heart of Edinburgh, having signed an initial four-year lease with Crown Estate Scotland for some 7,800 square feet of office space.

Dubbed Project Heather, the stock exchange plans gained the support of Scottish Enterprise via a six-figure regional selective assistance grant, following a successful fundraising co-ordinated through business advisory firm AAB.

Clarkson has led teams covering transaction management, asset servicing, provider oversight and market operations at Scottish Widows Investment Partnership, Aberdeen Asset Management and ultimately Aberdeen Standard Investments, where he was also head of market operations.

Webster said: “He brings valuable experience of the operating environment that will be crucial as we enter the critical testing stages of our trading platform. We look forward to announcing further appointments as the Project Heather team continues to grow.”