Further to our earlier story that Byron Baldwin, London-based Deputy Global Head, Fixed Income Trading & Clearing Sales at Eurex, has announced his departure via LinkedIn, we have learnt that he will be replaced by Tim Gits, Head of Fixed Income Sales Americas, Eurex.

Gits will report to Philip Simons, Global Head of FI Derivatives, Funding and Financing Sales.

As reported this morning, Baldwin's message reads as follows, suitably edited to translate the plethora of standard industry abbreviations into plain text.

"After over 14 years in fixed income ETD (exchange-traded derivatives) and OTC IRS (over-the-counter interest rate swaps) clearing at Eurex, I will be leaving at the end of December.

It has been an incredible journey working with both the buy-side and sell-side on existing and new fixed income derivative products.

"Undoubtedly the highlight was during my time working in New York between 2011-14 and the introduction of mandatory OTC IRS Clearing in the US under the Dodd Frank Act (DFA) in 2012 working with AIMA (Alternative Investment Management Association), SIFMA AMG (Securities Industry and Financial Markets Association Asset Management Group), FIA (Futures Industry Assocation) and ISDA (International Swaps and Derivatives Association) and its members.

"Post the introduction of the DFA we have seen the derivatives industry innovate with the futurization of OTC products and now with the introduction of UMR (uncleared margin rules), OTC Clearing is extending out to FX (foreign exchange) products.

"The great attraction for me for the futures industry and the derivatives industry in general is that it never stops innovating in terms of new products and fintech (financial technology) will push innovation in the derivatives Industry even further...

"A very Happy Christmas and New Year to you all."

Reactions on the social media site to the news include the following.

"Byron, it was wonderful to be able to work with you - from your vast knowledge, your passion and most of all your great sense of humour. Not to forget your social media savviness! I wish you all the best in your new adventure!"

"Byron, I could not express in a million words how grateful I am for your friendship and counsel over the time I have had the privilege to know you."

"Byron, I have thoroughly enjoyed working with you professionally over many years, after first having met you at LIFFE where you were a great guest speaker. Our trips to Scandinavia were always successful and a lot of fun at the same time. Just think, you would never have got to meet Elvis! Thank you."

"Good luck on your next chapter Byron. Your contributions to our industry are invaluable and I've greatly appreciated working with you."

His reaction to one of the reactions asking about future plans was brief and to the point: "In the short term off to La Manga Club in Spain for the holidays!!"

Phil Simons has since distributed the following message to staff.

"As many of you my already know, Byron has decided to take the opportunity to leave Eurex and explore new opportunities.

"On behalf of the company and all of his colleagues I would like to take this opportunity to thank Byron for his exceptional service to Eurex and Eurex Clearing over the last 13 [sic] years during which he has helped the company grow our ETD franchise and build our OTC interest rate derivatives business.

"Byron's knowledge of the derivatives execution and clearing business along with his exemplary professionalism will be greatly missed.

"We wish Byron success, happiness and good health in the next phase of his journey."

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Further to our earlier story that Byron Baldwin, London-based Deputy Global Head, Fixed Income Trading & Clearing Sales at Eurex, has announced his departure via LinkedIn, we have learnt that he will be replaced by Tim Gits, Head of Fixed Income Sales Americas, Eurex.

Gits will report to Philip Simons, Global Head of FI Derivatives, Funding and Financing Sales.

As reported this morning, Baldwin's message reads as follows, suitably edited to translate the plethora of standard industry abbreviations into plain text.

"After over 14 years in fixed income ETD (exchange-traded derivatives) and OTC IRS (over-the-counter interest rate swaps) clearing at Eurex, I will be leaving at the end of December.

It has been an incredible journey working with both the buy-side and sell-side on existing and new fixed income derivative products.

"Undoubtedly the highlight was during my time working in New York between 2011-14 and the introduction of mandatory OTC IRS Clearing in the US under the Dodd Frank Act (DFA) in 2012 working with AIMA (Alternative Investment Management Association), SIFMA AMG (Securities Industry and Financial Markets Association Asset Management Group), FIA (Futures Industry Assocation) and ISDA (International Swaps and Derivatives Association) and its members.

"Post the introduction of the DFA we have seen the derivatives industry innovate with the futurization of OTC products and now with the introduction of UMR (uncleared margin rules), OTC Clearing is extending out to FX (foreign exchange) products.

"The great attraction for me for the futures industry and the derivatives industry in general is that it never stops innovating in terms of new products and fintech (financial technology) will push innovation in the derivatives Industry even further...

"A very Happy Christmas and New Year to you all."

Reactions on the social media site to the news include the following.

"Byron, it was wonderful to be able to work with you - from your vast knowledge, your passion and most of all your great sense of humour. Not to forget your social media savviness! I wish you all the best in your new adventure!"

"Byron, I could not express in a million words how grateful I am for your friendship and counsel over the time I have had the privilege to know you."

"Byron, I have thoroughly enjoyed working with you professionally over many years, after first having met you at LIFFE where you were a great guest speaker. Our trips to Scandinavia were always successful and a lot of fun at the same time. Just think, you would never have got to meet Elvis! Thank you."

"Good luck on your next chapter Byron. Your contributions to our industry are invaluable and I've greatly appreciated working with you."

His reaction to one of the reactions asking about future plans was brief and to the point: "In the short term off to La Manga Club in Spain for the holidays!!"

Phil Simons has since distributed the following message to staff.

"As many of you my already know, Byron has decided to take the opportunity to leave Eurex and explore new opportunities.

"On behalf of the company and all of his colleagues I would like to take this opportunity to thank Byron for his exceptional service to Eurex and Eurex Clearing over the last 13 [sic] years during which he has helped the company grow our ETD franchise and build our OTC interest rate derivatives business.

"Byron's knowledge of the derivatives execution and clearing business along with his exemplary professionalism will be greatly missed.

"We wish Byron success, happiness and good health in the next phase of his journey."