Capital Markets Technologies 'CMT' (CMKT:OTC), announced today the appointment of three directors to its Board to aid and assist Chairman and CEO Jack Bouroudjian in growing the company.
CMT is focused on a substantial consolidation opportunity within the financial technology market, driven by regulatory legislation and standardization in trade processing and payments. The appointment of Andy Aziz, former Treasurer of Chase Manhattan Bank, Edward Anthony Arana, former senior auditor of the Chicago Mercantile Exchange and Peter Feit, former Managing Director of derivatives trading for SG Warburg is designed to lend significant weight to the company's plans.
"These appointments provide CMT with a real depth of expertise in both the retail and investment banking sectors. I am really pleased that CMT was able to attract such high caliber individuals and I am truly excited about what this team will enable the company to do. We are looking at opportunities in both North America and Europe where regulation and a strong desire to standardize post trade processes are clearly evident. In Europe alone the current financial technology market opportunity - post-trade process re-engineering under MiFID and SEPA - is estimated to be worth in excess of US$30 billion between now and 2010", said Jack Bouroudjian.
Andy Aziz is former Treasurer at Chase Manhattan Bank and has over 26 years of experience in corporate banking operations and management. His presence as a member of NACHA (North American Clearing House Association) combined with his background as a banking expert is expected to add significantly to CMT's plans around cross-border payments and SEPA. Mr Aziz served as Director of Banking at American Payment Systems, ACH/Billing Manager at Engyro Inc., Processing Team Leader at Heller Financial Inc., Operations Officer at Chemical Bank and Union Trust Company and other managerial and supervisory roles for back office banking operations. Most recently, Mr Aziz was Director of Banking for a walk-in bill payment company named CheckFree formally American Payment Systems where he consulted for the development of an electronic transaction system that processes 1.2 million transactions and moves over $12 billion annually through retail locations worldwide.
Edward Anthony Arana is a graduate of DePaul University and has been a Certified Public Accountant since 1986. Mr Arana spent 7 yrs as senior auditor of the Chicago Mercantile Exchange maintaining the financial integrity of members of the CME. In addition, Mr Arana was the Head of Accounting and Controller for Gerald Commodities, Index Futures Group, RJ O'Brien & Associates and has held the role of Chief Financial Officer of Commerz Futures LLC. "Participating in the dynamic European financial technology markets and related technologies is an exciting opportunity. I look forward to working with Jack Bouroudjian in identifying CMT's acquisition candidates and successful implementation of the business plan" said Mr Arana.
Peter Feit is the former Managing Director of derivatives trading for SG Warburg and has extensive experience with international trade and settlements. Mr Feit is currently Managing Member of KC-CO, a privately held options market maker firm on the Chicago Board Options, Chicago Board of Trade and the Chicago Mercantile Exchange. Mr. Feit is an Organizer and Director of Town Center Bank in Frankfort Illinois. He is a graduate of Loyola University where he earned a Bachelor of Science degree in Computer Science.
Jack Bouroudjian has been Senior Vice President of Equity Futures for Nikko Securities, the 2nd largest securities firm in Japan, Credit Agricole Futures (a wholly owned subsidiary of Credit Agricole, the 17th largest bank in the world), and Commerz Futures (a subsidiary of Commerz Bank, the 4th largest bank in Germany). Jack also served as President of Commerz Futures from 1999-2002. At each of these firms, Jack built the entire futures operations and they flourished into thriving subsidiaries under his supervision.
Jack has been a member of the Chicago Mercantile Exchange (CME) since 1987 and he is currently a principal at Brewer Investment Group, Inc. Jack was a member of the Board of Directors of the CME from 1996-2002. During that time he was Chairman of the Equity Indices Committee when the E-mini concept was successfully introduced to the CME membership. He was also chairman or co-chairman of over a dozen educational, product, and regulatory committees during his term.
Aside from Industry experience, Jack has had an extensive amount of Media experience. He has done over 1000 international and domestic live TV shots over the last several years including CNBC, CNN, CNNFN, Bloomberg, PBS and countless local and regional broadcasts. He has been interviewed by numerous CEOs and CFOs of major corporations. He currently is a Friday regular on the CNBC Squawk Box segment. He appears daily on Bloomberg TV at various timeslots during the trading session, and has his own radio show "The Jack Bouroudjian Show" with BizRadio.