Elizabeth Brooks Callaghan

Liz has over 25 years experience in market structure strategy, including innovation, restructuring, and regulation. From 2014 – 2023, Liz focused mostly on bond MiFID II/MiFIR advocacy, driving suitable corporate and sovereign bond transparency frameworks in both the EU and UK. Liz also chaired key industry taskforces such as: 1. CT Taskforce – At the request of EC DG-FISMA, Liz worked with buy-side, sell-side, and trading venue taskforce members to publish a report which addressed a number of fundamental CT questions relating to scope, data quality, governance, and comparability of a potential consolidated tape, and 2. Axe Distribution Taskforce – Liz at the request of buy-sides, again worked with buy-side, sell-side, and trading venue taskforce members to publish industry based definitions & best practice for bond pricing distribution.

Liz is now working for ETS as the Chief Strategy Officer (CSO) for Market Structure Services, spearheading the CT bids to be the authorised CT provider for both the EU and the UK consolidated tapes, facilitating centralised transparency to assist decision making and provide comprehensive market insight, which will improve functioning and competition throughout EU and UK capital markets.

Liz is a founding member of the FIX Committee and a member of the advisory board for the Fixed Income Leaders Summit (FILS).