Sunil Hirani
Sunil G. Hirani is the CEO of trueEX Group LLC, the first CFTC regulated designated contract market (DCM) for interest rate swaps (IRS). He was the Co-founder and CEO of Creditex Group Inc., an execution platform for credit default swaps (CDS), as well as Delta Neutral Auctions and Credit Event fixings, from 1999 to 2009, until its sale to IntercontinentalExchange (ICE) (NYSE: ICE) in 2008 for $625mn.
Crain's New York Business named Hirani to the "40 Under 40" list in 2006. One year later, he was also named a Recipient of the Ernst & Young Entrepreneur of the Year Award for financial services. In addition, Creditex earned a place on Deloitte's New York Technology Fast 50 List. Deloitte reported that the company experienced revenue growth of 779% from 2001 to 2005.
Mr. Hirani was also a Co-founder of T-Zero Inc., a trade processing platform for the credit derivatives industry, which was sold alongside Creditex to ICE in 2008, as well as LoanX Inc., which was sold to Markit Group in 2004. Mr. Hirani also lead the initiative to create Credit Event Fixings and Delta Neutral Auctions.
While at ICE/Creditex, Mr. Hirani lead the acquisition of The Clearing Corporation (TCC) which allowed ICE to clear credit derivatives globally. Prior to Creditex, he was at Deutsche Bank in the swaps and derivatives space, and preceding that, he was at Bankers Trust in the interest rate swaps group.
Mr. Hirani received his MBA from the J.L. Kellogg Graduate School of Management at Northwestern University (Evanston, IL). Mr. Hirani was awarded Entrepreneur of the Year or 1994. Mr. Hirani received his B.S. in Computer Science from Washington University (St. Louis).
Mr. Hirani is the founding investor in SeatGeek, the largest online search engine for sports, concert and theater tickets. Additionally, Mr. Hirani is a founding member of the Economic Club of New York Centennial Society. He also serves on the Board of Directors of the World Lung Foundation, the Investment Committee of NYC Seed, as well as the Washington University (St. Louis) School of Engineering National Council.
He played himself in a role in Oliver Stone's 2010 film, Wall Street: Money Never Sleeps
External links
- trueEX Official Website
- CFTC Grants Trueex Exchange Status to Offer Interest-Rate Swaps
- CFTC clears trueEX for launch
- Derivatives Entrepreneur to Launch Swaps Exchange
- Derivatives Need Transparency to Lure Users, Hirani Says
- CFTC designates trueEX as a contract market
- TrueEX 'Go-Ahead'
- CFTC Position Limits Rule Struck Down
- Goodbye Swap Execution Facilities?; Hello Designated Contract Markets
- A Derivatives-Trading Pioneer Looks to Launch New Venture