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Lawrence H. Summers Joins Advisory Board of LMRKTSNEW YORK and LONDON, Oct. 21, 2016 (GLOBE NEWSWIRE) -- LMRKTS is honored to announce that Former Secretary of the Treasury, Lawrence H. Summers, has joined the company’s Advisory Board. Dr. Summers brings academic and policy expertise to the firm that, until now, has been more heavily weighted towards quantitative programming, technology and capital markets. As one of President Obama’s chief economic advisors during the financial crisis, Dr. Summers helped shape the U.S. response. Dr. Summers currently is the Charles W. Eliot University Professor and President Emeritus at Harvard University. LMRKTS is a FinTech firm with a fresh approach to portfolio compression, focusing on lowering counterparty and systemic risk, rather than traditional portfolio compression that is aimed at reducing accounting costs associated with leverage charges and gross notional. The firm was founded to help institutions eliminate excess derivatives exposures that can cause financial contagion. CEO and founder of LMRKTS, Lucio Biase, said, “We are thrilled to welcme Dr. Summers to our Advisory Board. Dr. Summers’ vast experience will be invaluable as LMRKTS continues to develop offerings that are in line with capital market needs, regulatory goals and tax payer safety. His expertise will help us to further provide a market friendly means to the regulatory mandate of lowering systemic risk.” Dr. Summers commented, “LMRKTS has developed an offering that will help reduce the ‘interconnectedness’ of banks and clearing houses by netting and diversifying counterparty credit risk for cleared and bilateral exposures.” About Lawrence H. Summers About LMRKTS LLC Contact: LMRKTS LLC Tel | +1.212.918.4649 [email protected] |