Singapore-based fintech firm MVGX Holdings, which provides carbon software-as-a-service solutions, has appointed Meyer “Sandy” Frucher as its vice-chairman in a new role in which he will be responsible for guiding the company towards establishing an interconnected global carbon infrastructure network with national registries, trading, clearing platforms and enterprise resource planning systems.
Previously, he served as the vice-chairman of NASDAQ, the leading American multinational financial infrastructure technology provider and stock exchange operator, for over 15 years. There he was responsible for maintaining and managing global exchange relationships. He also served as a senior adviser to the group’s senior leadership team on a broad range of industry and regulatory matters, including sustainability.
Frucher joined NASDAQ in 2008, following the company’s strategic acquisition of the Philadelphia Stock Exchange (PHLX), where he served as chairman and CEO for over a decade. With over two and a half decades in some of the world’s leading stock exchanges, he has been, the MVGX says, “instrumental in driving the innovation that has shaped the advanced trading systems in stock exchanges around the world”. Throughout his time at PHLX, Frucher led the effort to rebuild PHLX as a technology and product innovator within the US market. In 2008, the PHLX was acquired by NASDAQ and became the core of NASDAQ’s derivative business.
“Having overseen the digital transformation of PHLX, and having been part of the rapid expansion of NASDAQ as a global financial market technology giant, Frucher has a unique understanding of the realities facing governments, traditional bourses and financial institutions today,” adds Bo Bai, MVGX’s executive chairman and co-founder. “With his long-standing industry expertise, he will play a vital role in setting us on the right path as we build an interconnected carbon infrastructure system, in addition to operating a green exchange.”