Former NASDAQ Vice President Sandy Frucher joins Singapore-based Green FinTech MVGX
MVGX Holdings Pte. Ltd. (“MVGX”), parent of Singapore-based FinTech company and digital green exchange MVGX, which provides end-to-end Carbon Software-as-a-Service solutions, announced that it has appointed Meyer “Sandy” Frucher to its deputy director Formann. In his new role, Sandy 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 (ERP) systems.
Previously, Sandy served as Deputy Chairman of NASDAQ, the leading US multinational financial infrastructure technology provider and exchange operator, for over 15 years. Responsible for maintaining and managing global exchange relationships, Sandy also served as a senior advisor to the group’s senior management team on a wide range of industry and regulatory issues, including sustainability. Sandy 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. Sandy has previously represented NASDAQ on the board of the World Federation of Exchanges and continues to serve on the board of the Options Clearing Corporation, where he is the longest-serving board director.
Newly appointed MVGX Vice Chairman Sandy Frucher said: “Over the past several decades, NASDAQ has evolved from being a pure exchange operator to a leading financial SaaS provider, having built an interconnected financial services infrastructure that powers capital markets globally. looking back at its approach, the same can be applied to the underlying infrastructure required to support a growing interest in green financial instruments and carbon assets.As regulators and other industry stakeholders grapple with the complexities of the carbon market, there is an urgent need for a global interconnected carbon service infrastructure compatible with national registries, as well as trading and clearing platforms, to enable governments, investors and businesses to achieve their net-zero goals. I am excited to join the team at MVGX, and guide them when they realize this vision.”
With over two and a half decades at some of the world’s leading exchanges, Sandy has been instrumental in driving the innovation that has shaped the advanced trading systems we see on exchanges around the world today. Throughout his time at PHLX, Sandy led efforts to rebuild PHLX as a technology and product innovator in the US market. In 2008, PHLX was acquired by NASDAQ and became the core of NASDAQ’s derivatives business.
“Having overseen the digital transformation of PHLX, and having been part of the rapid expansion of NASDAQ as a global financial markets technology giant, Sandy has a unique understanding of the realities facing governments, traditional exchanges and financial institutions today. With his long-standing industry expertise, I believe Sandy will play an important role in setting us on the right path as we build an interconnected carbon infrastructure system in addition to operating a green exchange,” commented MVGX Executive Chairman and Co-Founder Dr. Bo Bai.
“Sandy was present as NASDAQ transformed from one of many leading exchanges to an enabler of forward-thinking capital markets. His experience as a trusted provider of cutting-edge trading infrastructure and market data will be central to MVGX as we enter this new phase of growth as an organization,” said Michael Sheren, president of MVGX, and former co-chair of the G20 Green Task Force on Economics.
Launched in 2018 and headquartered in Singapore, MVGX is supported by its proprietary digital technologies and green exchanges, and its subsidiaries are licensed by the Monetary Authority of Singapore (“MAS”). To date, MVGX’s subsidiaries hold the License of Recognized Market Operator (“RMO”), Capital Market Services License for trading in securities, and Collective Investment Schemes, which provide depository services, as well as a License for Principal Payment Institutions to provide services under the Transaction payment services.
About MVGX Holdings Pte. Ltd (“MVGX”)
MVGX Holdings Pte. Ltd. (“MVGX”) is supported by its proprietary digital technologies and green exchanges, and its subsidiaries are licensed by the Monetary Authority of Singapore (“MAS”). Launched in 2018 and headquartered in Singapore, MVGX is a leading fintech company offering end-to-end Carbon Software-as-a-Service solutions.
MVGX has two registered digital technologies, the Non-Fungible Digital Twin (NFDT®) to represent objects in the metaverse, and the Carbon Neutrality Token (CNT®) to facilitate cross-border trading of voluntary carbon emission reduction credits without triggering national ownership issues such as the nationally determined contributions (Article 6 of the Paris Agreement).
By design, MVGX and its subsidiaries hold licenses from MAS including recognized market operator (“RMO”) license, capital market services license for trading in securities, and collective investment schemes, providing depository services, as well as a license for large payment institutions to provide services under the Payment Services Act.
Visit www.mvgx.com for more information on MVGX.