He has worked in clearing since 1985, after 12 years at Barclays Bank. He became Managing Director of the London Clearing House division of the International Commodities Clearing House in 1987. This division subsequently became London Clearing House Ltd. (LCH).

David Hardy serves on the Boards of the Futures and Options Association and the Futures Industry Institute, and in May 2001 he was invited to join the UK’s Financial Service Authority's Financial Services Practitioner Panel, which represents a cross-section of regulated firms. He is also a member of the CFTC Global Markets Advisory Committee (GMAC).

He served on the Boards of the International Petroleum Exchange from 1993-1999 and the London Commodity Exchange from 1991 until its merger with the London International Financial Futures and Options Exchange in 1996.

LCH.Clearnet is the leading independent central counterparty (CCP) group in Europe, serving major international exchanges and platforms, equity, exchange-traded derivatives, energy, interbank interest rate swaps markets and the majority of the Euro-denominated and sterling bond and repo markets. It aims to serve as a catalyst for further CCP consolidation in Europe.

See also: 03:00 pm 'Prospects for European Clearing'