The London Metal Exchange has hired the head of operations at European clearing house EuroCCP into its fledgling post-trade division, as it forges ahead with plans to build its own clearing facility, Financial News has learned.

James Cressy, who was head of operations, trading platform and industry relationships at EuroCCP, will join the LME on April 15, as its head of clearing and settlement, according to two sources familiar with the situation.