Round Table

Financial System Complexity – The Role of Regulated Trading Venues


  • Jella Benner-Heinacher (Chief Managing Director (Deputy), DSW)
  • Christoph Lammersdorf (CEO of Boerse Stuttgart)
  • Niels Lemmers (Legal & Public Affairs Director, Dutch Investors’ Association VEB)
  • Prof. Ryan Riordan (Queen’s School of Business, Queen’s University)


  • Andreas Scholz, Journalist

Jella Benner-Heinacher
Chief Managing Director (Deputy), DSW

DSW is the leading shareholder association in Germany with more than 25.000 members. She is an attorney having studied in France, Switzerland and the U.S.A. (Master of Law). Jella Benner-Heinacher joined DSW in 1991 and works as its Chief Managing Director (Deputy) since 2011. Her responsibilities are:
• International activities: Better Finance for All (formerly EuroFinuse) in Brussels, European Corporate Governance Services (ECGS), London/Paris
• Corporate Governance issues in commissions inside of Germany such as the German Corporate Governance Commission, and abroad in speeches and international conferences
• DSW’s participation in the legislation procedure at a national and international level
• Shareholders’ representation at Annual General Meetings such as SAP, Metro, and Henkel in Germany, but also in France, Spain and U.K. (EuroStoxx50).
Jella Benner-Heinacher is also member of the German Stock Exchange Expert Committee and of the Stock Exchange Board in Düsseldorf. She sits on the Germany consumer panel at the German BaFin and at the EFRAG user panel in Brussels. She is member of the supervisory boards of DAX30-company K + S AG and the small cap company A.S. Creation AG.

Niels Lemmers
Legal and Public Affairs director, Dutch Investors’ Association VEB

Niels Lemmers works as legal and public affairs director at VEB. Within this capacity he is responsible for representing VEB in legal cases and putting forward the position and interests of VEB and EuropeanInvestors in the broad public debate on Corporate Governance, Financial Markets, Regulation and Securities.
Niels studied Corporate and Securities Law as well as (International) Financial Economics at Radboud University in Nijmegen. After having worked at the Dutch Authority for Financial Markets (AFM), he was a research assistant at the Van der Heijden Institute, part of the Research department ‘Business and Law’ of the Radboud University. His publications focus on corporate law, securities law and financial markets, including financial supervision and the position and interests of investors.

Prof. Ryan Riordan
Queen’s School of Business, Queen’s University

Prof. Ryan Riordan is an assistant professor of finance at University of Queen’s, Queen’s School of Business, Canada.
Prior to this he was an assistant professor at at the University of Ontario Institute of Technology (UOIT), in Oshawa, Ontario and at the Karlsruhe Institute of Technology (KIT) in Karlsruhe, Germany. At KIT, he led 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 and seminars. 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.
Before starting at Queen’s, Ryan was assistant professor at University of Ontario Institute of Technology and assistant professor at the Karlsruhe Institute of Technology. He earned his PhD from Karlsruhe Institute of Technology and MBA from the Sprott School of Business at Carleton University. Before embarking on an academic career, Ryan worked as a trader and risk manager at HSBC Trinkaus in Dusseldorf, Germany.

Christoph Lammersdorf
CEO of Boerse Stuttgart

Christoph Lammersdorf (born 1950) was appointed CEO of Boerse Stuttgart AG with effect from 01 September 2008. He is also Chairman of the Management Board of Boerse Stuttgart Holding GmbH and CEO of Euwax AG.
Christoph Lammersdorf graduated in physics at the Technical University of Clausthal. A proven stock market expert, he was also a co-founder of database operator Counterparty Link Ltd., London, which was sold to a private equity firm in March 2008. Prior to this, he gained six years’ experience with Deutsche Börse Group, Frankfurt, where in his last role as managing director he was responsible for the Information Services division. During his earlier career, he held a series of international management positions with Dow Jones Markets (Telerate), a provider of real-time financial information for banks, insurers and companies.

Andreas Scholz

Andreas Scholz (born in 1969) studied business administration and journalism at “Freie Universität Berlin”. His professional career began in the radio broadcasting department of the ARD. In 1998, he established the financial and stock market editorial department on the newly launched InfoRadio Berlin-Brandenburg. One year later, Scholz moved to the US news agency Bloomberg, where he was responsible for the coverage of the stock markets in Frankfurt. In 2004 he became Frankfurt Bureau Chief of Bloomberg Television. From 2010 to 2013 he was a member of the board of DAF German Investors Televison AG. Today he is one of the best-known financial and economic journalists on german Television and currently reporting for various TV stations – like n-tv – about the market on the Stuttgart Stock Exchange. He is also Publisher of the magazine International Bankers Forum (dfv media group). Scholz is also an author and published two books on the Euro Debt Crisis. One together with the former President of the ECB, Jean-Claude Trichet, and the other one together with Otmar Issing, the former Chief Economist of the European Central Bank.