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LME Says Michael Warren, Chief Technology Officer, Died

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May 16 (Bloomberg) -- Michael Warren, chief technology officer at the London Metal Exchange, has died, the bourse said in a notice to members today.

Martin Abbott, chief executive officer, said Warren was the first person he hired at the LME. “He was instrumental in the development of the LME over the last five years having transformed the business from being a technological under-performer into a first class exchange, easily matching our peer group in terms of capacity and resilience,” Abbott said.

Warren, 56, had more than 30 years of experience in information technology, having started his career at IBM Inc. in New Zealand in 1974, according to the LME. He worked as director in the technology risk practice at PricewaterhouseCoopers LLP and was owner of his own company specializing in risk management, IT and strategic consulting before joining the LME in 2007.

Warren oversaw initiatives such as upgrading the LME’s electronic trading system and introducing so-called proximity hosting, which allows members and clients to locate their trading systems close to the exchange’s data center to speed up orders. The bourse handled $15.4 trillion worth of contracts last year, a 33 percent increase from 2010.

To contact the reporter on this story: Agnieszka Troszkiewicz in London at atroszkiewic@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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