Mr Peniket was previously Director of Finance, an area of responsibility which he will retain. He joined the company in 1999 and was promoted to the Exchange Executive in May 2000. He coordinated the financial aspects of the demutualization of the Exchange in 2000 and project managed the IPE’s side of the Exchange’s acquisition by IntercontinentalExchange in 2001. Since then he led the negotiation of the IPE’s contract in respect of TRS with Liffe and the renegotiation of the Clearing Services Agreement with LCH.Clearnet. He was also responsible for establishing the agreement with the Chicago Climate Exchange in respect of European Emissions Trading.
Prior to joining the IPE, Mr Peniket spent eight years at KPMG, where he qualified as a chartered accountant and worked in both audit and financial management consultancy. Before joining KPMG he spent four years working for a Member of Parliament as a research assistant.
Richard Ward, Chief Executive of the IPE, said, “I am delighted to be able to offer David the position of Chief Operating Officer. He has made an outstanding contribution to the Exchange. He accepts the role during a very important time for the IPE and the energy markets worldwide. I wish him every success and look forward to the continuation of a strong, strategic focus for the Exchange.”