Andreas Preuss is new director on BSE board

Andreas Preuss, deputy chief executive officer of Deutsche Boerse AG and Eurex, has been appointed as a director on the board of the Bombay Stock Exchange (BSE).

Deutsche Borese, a top German bourse, owns 5 per cent in BSE.

This is the second big appointment on the BSE board after Tata Consultancy Chairman S Ramadorai was appointed as the exchange’s chairman.

BSE is developing its derivatives market to retain its market share in the cash equity segment. BSE Managing Sirector and CEO, Madhu Kannan, said, “BSE will draw upon Andreas’s rich professional experience and expertise.”

Last month, a nominee of the Singapore Stock Exchange (SGX) resigned from the BSE board. Sources said the resignation followed a conflict of interest as Nifty of the National Stock Exchange (NSE) was traded on SGX.

Preuss is also a board member of the International Securities Exchange (ISE) and a member of the executive board, Clearstream Holding AG. In 2009, he was elected to the World Federation of Exchanges’ Board of Directors. He graduated in economics from the University of Hamburg.