The ace up the sleeve of Teodor Ancuţa

The great secret of Teodor Ancuţa, the chairman of the Sibiu exchange, which was strictly guarded for a long time -the person he would propose to replace him as managing director of Sibex - was found by the "BURSA" daily, to be an Irishman: Patrick Lyle Young.

Mr. Young is an expert in finance and financial markets. Between 1998 and 2001, Patrick Lyle Young led the project for the implementation of single stock futures on the London International Financial Futures and Options Exchange (LIFFE), after which he provided consulting services on the implementation of single stock futures on the Montreal Exchange (in 2000) and on the development of the market infrastructure of the "Bond Exchange of South Africa" (in 2001). Between 2000 and 2002 he worked as a consultant for the "Australian Derivatives Exchange" on the implementation of a new electronic market with the IT platform provided by the Paris Bourse. Two years ago, through the "Northwest Venture Part-ners", he provided consulting services on investments within the National Stock Exchange of India. On the Chicago Mercantile Stock Exchange, Mr. Young also worked on the management of the project to create the Electronic Trading Center aimed at transferring ring traders from the CME to the electronic trading systems.

The expert proposed to follow Teodor Ancuţa as the executive director of Sibex has about 23 years of experience in management, as he has held management positions in several brokerage firms (Tullet& Tokyo-1987-1990, Daiwa Europe 1990-1992, ODL Monaco 2006-2008), in an exchange specializing in the trading of volatile oils (Essential Oil Exchange 1999-2003), which he also founded, and as Derivatives Vision Advisors& DV Books, a company specializing in consulting for services pertaining to derivatives, the publishing of books on the topic of financial markets.

Starting with 2008, Mr. Young holds the position of managing director of "Projekt Vistula", handling the coordination of the investments in Poland"s real estate market. Starting with 2010, Mr. Patrick Lyle Young is a member in the Investment Committee of "New World Fund" Ltd, an investment fund which focuses on Central and Eastern Europe, having invested 320 million dollars in the region. He is the author of several books on capital markets: "Capital Market Revolution" (1999), "New Capital Market Revolution" (2002), "The Promiscuous Investors" (2001), "Single Stock Futures - a Traders Guide" (2003), etc.

Last month, BURSA exclusively announced that Teodor Ancuţa would retire from his position as managing director of the Sibiu Exchange, while remaining the chairman of the company.