Dame Clara Furse, the former chief executive of the London Stock Exchange, has been appointed to lead the government’s investigation into how the role of computer-generated trading in financial markets will evolve in the future.
Dame Clara, non-executive director of Japanese investment bank Nomura, will chair the Lead Expert Group for the Government Office for Science’s latest Foresight project, ‘The Future of Computer Trading in Financial Markets’. At the LSE, she was responsible for a £40 million upgrade to the LSE's troubled TradElect system, which is currently being stripped out and replaced by a Linux-based system with a higher algorithmic trading capacity, only three years on.
The investigation aims to explore the role of the technology in the next few decades, and how its evolution will affect issues such as financial stability, regulation, integrity of financial markets, competition and the future role and location of capital markets.
Other members of the Lead Expert Group include Andy Haldane, executive director of financial stability at the Bank of England, Professor Charles Goodhart from the London School of Economics and Professor Philip Bond from the University of Oxford and Bristol.
Dame Clara headed up the London Stock Exchange between 2001 and May 2009, and was the first female to take on the role. She was also deputy chairman at Liffe, the London International Financial Futures Exhange, prior to which she worked at UBS and Credit Lyonnais Rouse.