Michael has 20+ years of experience in the Exchange industry both as executive responsible for defining and implementing strategy and also as programme director responsible for managing change across organisations. In more than fourteen years at Deutsche Börse and more than six years at (NYSE) Euronext he was involved in designing and managing multiple clearing initiatives across Europe and the US. Before founding Wellenbecks Advisory Services, a boutique provider of advisory services to market infrastructure, he was member of the Euronext executive committee and heading the strategy function of Euronext. He is co-author of several patents in the clearing space and co-founder of Qyte, a start-up providing advanced data mining solutions leveraging self-learning algorithms and neuronal networks. Michael holds a master’s degree in business administration from RWTH Aachen University.