Frank Somma

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Frank Somma is a financial services professional with extensive experience in derivatives execution, clearing, and project management. He has worked for several major financial institutions throughout his career, specializing in OTC clearing, futures and options, and regulatory compliance.
Somma currently serves as a senior sales manager at SIX, Switzerland's exchange group. In this role, he focuses on clearing and settlement services, promoting SIX Clearing's offerings to clients and industry partners.
== Background ==
Somma has had a diverse and extensive career in the financial services industry, spanning over two decades. His most recent role was as a derivatives execution & clearing specialist at Commerzbank AG in London from May 2017 to December 2022. During his tenure, Somma was responsible for delivering OTC client clearing services, initiating engagement with potential new clearing clients, executing sales pitches, managing client relationships, and overseeing the OTC CCP build. He also played a crucial role in ensuring compliance with MiFID II and EMIR regulatory obligations.
Prior to Commerzbank, Somma worked at JP Morgan from December 2014 to May 2017 as a derivatives new markets & products project manager. In this role, he managed F&O and prime brokerage projects, led the EMEA change management team for F&O new products and services, and coordinated multiple change work streams. He also created project management templates and methodologies.
Somma's career at Bank of America Merrill Lynch spanned from July 2007 to December 2014, where he held various positions. As an OTC clearing analyst from July 2012 to December 2014, he conducted UAT testing on OTC cleared initiatives, managed production releases, and served as an SME on end-to-end clearing trade flow and system architecture. From October 2009 to July 2012, he worked as an FF+O back office specialist, handling exchange traded derivatives clearing on European exchanges and resolving T+1 outstanding breaks. His initial role at the bank was as an FF+O middle office specialist from July 2007 to October 2009, where he managed post-execution trade processes and client liaisons.
Earlier in his career, Somma worked as a derivatives broker at Schneider Trading Associates from June 2006 to July 2007, executing futures, options, CFDs, and FX contracts. From May 2002 to August 2005, he was an equity trader and trade support at Arbitrage Specialist Investments, employing trading strategies for European stocks via CFDs. Somma's experience also includes roles at Amikon Investment Ltd. from November 1998 to March 2002, where he progressed from a junior derivatives trader to a derivatives trader and trade support role. He began his career with positions as a clearing and administration clerk at Mees Piersons Ltd. and Global Brokerage Services in 1997 and 1998, respectively.
== Education ==
St Bonaventure's RC Sixth Form College 
A Level, 1994 - 19961994 - 1996
Grade: ​​Economics B, History B, Government and Politics C
== Video ==
Frank Somma, senior sales manager at SIX, recently shared insights on the benefits of central counterparty (CCP) clearing and SIX Clearing's offerings in an interview with John Lothian News at FIA's 2024 International Derivatives Week in London.
== References ==	
Category:Bank of America Merrill Lynch - Former Employees
Category:Commerzbank AG - Former Employees
Category:Mees Piersons Ltd. - Former Employees