The WFE and its members pay tribute to Magnus Böcker

By: The WFE Focus Team Aug 2017

The WFE and its members are united in their grief following the passing of Magnus Böcker, who tragically died of cancer on 26 July 2017.

Magnus was the former CEO at Singapore Exchange, and president of Nasdaq OMX Group. Magnus, who was also associated with the WFE for decades, most recently served as Chairman of the WFE Governance and Nomination Committee (GNC) from 2012 to 2015.

“Magnus was optimistic, clever, diplomatic and very strategic. Many people in the industry came to him for advice and counsel, and he was generous in making time. I first met him in 2000 when OM was trying to buy the LSE and then, as was his trademark during the rest of his career, he was always smiling regardless of the pressure he might be under. We are all very sad to hear of Magnus’s death – he had many friends and admirers. After the WFE told members earlier today of the news, there has been a deluge of emails expressing the industry sense of loss and paying tribute to his charisma and kindness.” Nandini Sukumar, CEO, WFE

“The Amman stock exchange would like to express its deepest condolences for the death of Mr Magnus Böcker. Mr Böcker was a profound leader and visionary thinker in the financial markets industry. We are sure that his legacy will continue to influence this industry for years to come. Our deepest condolences to his family and to the WFE universe.” Nader Azar, CEO, Amman Stock Exchange (ASE)

In a Joint Statement, the seven members of the ASEAN-based Exchanges remember one of their founding partners: “Mr. Magnus Böcker, the former Chief Executive Officer of Singapore Exchange Ltd, left an indelible mark on the ASEAN Exchanges. Through his clear, strategic vision and the tenacity for which he was well known, he freely brought his international experience to the project, helping to guide the exchanges of Southeast Asia towards a world-first collaboration. His unique talent for giving substance to visionary ideals, by providing focused attention to detail, helped to create a strong foundation for an ASEAN Exchanges collaboration that has grown from strength to strength, defining the ASEAN Asset Class as a globally-respected investment platform.

Besides his deep knowledge of global markets and his broad technical expertise, Mr. Böcker’s ability to apply his timely sense of humour to sometimes tense negotiations, made the collaboration a positive experience and often moved negotiations forward faster. Mr. Magnus Böcker’s professional guidance and warm friendship will be greatly missed by all of us in the ASEAN Exchanges collaboration.” ASEAN Exchanges (Bursa Malaysia, Hanoi Stock Exchange, HoChiMinh Stock Exchange, Indonesia Stock Exchange, Philippine Stock Exchange, The Stock Exchange of Thailand and Singapore Exchange)

“ASX is saddened to learn of the death of Magnus Böcker. He was a charming, energetic and insightful man, with a record of significant achievement in the financial exchange industry. He is best known in Australia as leading the Singapore Exchange during its friendly attempt to merge with ASX in 2010-11. He would have become the CEO of the combined group. But his engagement with the local industry began much earlier, as the vendor of leading trading and post-trade technology platforms during his tenure at OMX and then Nasdaq-OMX. ASX and SFE (prior to merging with ASX in 2006) were long-time customers.

Magnus was a man of quality and vision. His professional legacy will endure. As will the fondness with which he was held by many at ASX. We send our sincere condolences to the Böcker family.” ASX Group

“The Dubai Financial Market (DFM) management share in the sadness that has engulfed financial markets’ practitioners due to the passing away of Mr Magnus Böcker. The DFM’s management extends most profound sympathies to his family and friends, as well as to all his colleagues. The management recalls Mr. Böcker’s recent participation in outlining DFM strategy in late 2016, as he was part of the consultant team who led this initiative. It is indeed difficult to accept that an instrumental veteran of capital markets has departed; leaving a void that will be difficult to fill.” Dubai Financial Market (DFM)

"Magnus was an energetic and cheerful person. Always positive and had a solution for each problem. We shared very good moments when he was OMX CEO, and while we shared the WFE board membership. We cooperated on revamping the trading engine of the Egyptian Exchange while he was serving as Nasdaq OMX. I never felt it was a company-client relationship. He was a great advocate of how efficient markets can contribute a lot to emerging market economies. He will definitely be missed." Maged Shawky, Ex-Chairman of the Egyptian Exchange (2005-2010)

"I met Magnus in Sweden when contemplating the formation of ICE, and sought his counsel envisioning how markets could trade electronically. I am deeply grateful for the wisdom he shared with me then and over the next several years. As a competitor, he kept us all on our toes and challenged us. As a leader in our industry, he inspired us to innovate and make our markets better. And as a friend, he brought kindness, humor and intellect to every conversation. He was truly one of the greats in our industry, and while his presence will be missed, the mark he made remains.” Jeff Sprecher, Chairman & CEO, Intercontinental Exchange

“I have learnt with great sadness the shocking news about the untimely passing of Magnus Böcker. My first encounter with Magnus was at the WFE annual meeting in Sao Paulo in 2006. He struck me as a warm and outgoing gentleman, a professional who had a curious mind, and was keen to learn about my country and the exchange business on an island best known for its beaches than for financial services. Over the years, we met regularly at the WFE gatherings around the world where it was always refreshing and rewarding to engage with someone whose scholarly knowledge always brought a new and often contrarian perspective to discussions which cut across a wide variety of subjects.

It was when I was nominated on the WFE Governance and Nomination Committee that I got to interact with Magnus on a more regular basis. I have very fond memories of his leadership as Chairman of the Committee where he successfully delivered on the mandate that was given to him with the art and craft of a born leader. Magnus has been one of the most inspirational stock exchange leaders that I have met, a dedicated professional who has transformed all the institutions that he has led. I would like to pay tribute to a great person who has contributed a lot to our industry. He will be missed. My thoughts in these trying moments are with his family and loved ones.” Sunil Benimadhu, Chief Executive, The Stock Exchange of Mauritius (SEM)

“We would like to express our deepest condolences on the passing of Magnus Böcker. Magnus led SGX from 2009 to 2015 and was a driving force for change. Everyone who has interacted and worked side-by-side with him has held him in great regard. We will remember him for his infectious optimism, fresh insights, and energetic approach to just about anything, from music to cars to the exchange business and his belief in SGX. Magnus will be greatly missed.” SGX