Cathryn Lyall has left Icap, where she was chief operating officer of exchange projects, and the UK interdealer broker is reviewing its commitment to launch its own derivatives exchange.
Lyall joined the London-based brokerage in March 2008, bringing experience in working at a derivatives exchange. She had been managing director, Emea, of the Chicago Board of Trade, before its acquisition by the Chicago Mercantile Exchange. Before CBoT she worked in the Australian trading and derivatives markets.
A spokesperson for Icap in London confirmed her departure to Futures and Options Intelligence today (Thursday March 19).
Market participants have suggested Lyall leaving meant Icap was...