Round Table

Retail investors in a complex world


  • Dr. Christoph Boschan, Member of the Executive Board of Boerse Stuttgart
  • Prof. Ryan Riordan, University of Ontario Institute of Technology
  • Jean-Paul Servais, Chairman of the Management Committee of the Financial Services & Markets Authority (FSMA)
  • Christian Vollmuth, Managing Director German Derivatives Association

  • Roland Klaus, Journalist

Dr. Christoph Boschan
Member of the Executive Board
Boerse Stuttgart

Christoph Boschan was appointed to the Management Board of Boerse Stuttgart AG with effect from 1 October 2012 and is responsible for Exchange Operations.

He has passed the two German state examinations qualifying him to practise law (through Humboldt University in Berlin, and the Berlin Court of Appeals), and also holds a doctorate in law from Chemnitz University of Technology. Furthermore he passed several trader exams.

From 1999, while still a student, he worked as a securities trader with Tradegate AG. Following this, he held various positions in the field of legal consulting before switching to trading surveillance and market supervision at the Berlin Stock Exchange. Christoph Boschan subsequently worked as an advisor at Börse Berlin AG. Later, as authorised signatory with general commercial power of attorney at the Berlin Stock Exchange, he was responsible for Legal Affairs, Business Development and Strategy, mainly for Equiduct Trading.

After joining the Stuttgart Stock Exchange, from April 2010 Christoph Boschan was Managing Director of Baden-Württembergische Wertpapierbörse, where as part of his remit he was in charge of Legal Affairs, Rules and Regulations, Listing, Public Affairs, Best Execution and Education.

Prof. Ryan Riordan
University of Ontario Institute of Technology

Ryan Riordan is an assistant professor of finance at the University of Ontario Institute of Technology (UOIT), in Oshawa, Ontario.

Prior to this he was an assistant professor at the Karlsruhe Institute of Technology (KIT) in Karlsruhe, Germany. At KIT, he lead a small research group on financial market innovation, focusing on market microstructure, international finance, algorithmic & high-frequency trading, retail & institutional trading.

His work has been published in the Journal of Financial Markets, the Journal of Financial and Quantitative Analysis, and the Journal of Banking and Finance, and been presented at numerous conferences.

In 2012 he received a Lamfalussy Fellowship from the European Central Bank; and in 2009 the Josseph de la Vega Prize from the Federation of European Securities Exchanges.

Jean-Paul Servais
Chairman of FSMA, the Belgian Financial Services & Markets Authority

Jean-Paul Servais is Chairman of Belgium's Financial Services and Markets Authority (FSMA), member of the International organization of securities commissions (IOSCO) Executive Committee and of the Chair's Committee of the European Securities and Markets Authority's (ESMA). As Chair of the Investor Protection and Intermediaries Standing Committee (IPISC) established by ESMA, he has been deeply involved in many aspects of regulation designed to deliver greater transparency for investment products by simplifying both structure and cost for the benefit of investors. He is also member of the European Systemic Risk Board (ESRB) and of the NYSE Euronext College of Regulators.

Jean-Paul Servais holds a Masters degree of law from Université Libre de Bruxelles (ULB) and a Masters degree of Economics in Business Management from Vrije Universiteit Brussel (VUB). He is Part-time Lecturer (Professeur) at the ULB (Free University of Brussels) and author or co-author of more than 250 papers, publications and contributions to various national and international colloquia and conferences.

Christian Vollmuth
Managing Director
German Derivatives Association

Christian Vollmuth is Managing Director of the German Derivatives Association (Deutscher Derivate Verband DDV). He started with the Association in 2010, when he took up the position of General Counsel. As part of his responsibilities he oversees all legal aspects and regulatory issues concerning the structured products industry in Germany and Europe. He is mainly based in Berlin.

Before joining DDV he worked for nine years at Deutsche Bank in Frankfurt where his last position was that of a Senior Counsel and Director. Christian Vollmuth is admitted as lawyer in Germany. He regularly publishes articles in renowned industry publications and law journals.

Roland Klaus

Roland Klaus works as a journalist for financial markets. He reported for CNBC and the German news channel N24 from Frankfurt Stock Exchange from 2004 to 2009. During the 10 years as moderator and stock market reporter for the news channel n-tv, he became well-known to the public.

Roland Klaus was born in 1970 in Temeschburg/Romania and grew up in Darmstadt. He graduated from Dortmund University in Journalism and Economics. While still being a students, he already reported for n-tv. In 2000, he founded the first web-tv station that reported daily on the new economy together with gatrixx.
After 20 years work experience in financial markets he states: “Stock markets are not only my profession, they are also my passion”.