Chicago, Il., USA - May 27, 2013, Chicago, Il., USA - CBOE Holdings, Inc., the holding company for Chicago Board Options Exchange (CBOE), the CBOE Futures Exchange (CFE) and other subsidiaries, elected Edward T. Tilly to become CEO and a member of the board.
Article continues below
Mr. Tilly is the President and Chief Operating Officer of CBOE Holdings, Inc., Chicago Board Options Exchange (CBOE) and C2 Options Exchange (C2), the company's all-electronic exchange. He also serves as the Chairman of the Board of the CBOE Futures Exchange (CFE) and as a member of the Board of Directors for the CBOE Stock Exchange (CBSX).
Prior to being named President and COO in November 2011, Mr. Tilly served as CBOE's Executive Vice Chairman since 2006 and from 2004 to 2006 as CBOE's Member Vice Chairman, which was the highest member-elected position at the exchange.
He was a CBOE member from 1989 to 2006 and traded as both a market maker and a designated primary market maker (DPM). As a CBOE member, Mr. Tilly served on the CBOE Board of Directors from 1998 to 2000 and from 2003 to 2006. From 2004 to 2006, he chaired the CBOE Floor Directors Committee. He was also a member of the Executive Committee and Compensation Committee, key committees of the CBOE Board of Directors. Previously, he had also served on the Governance Committee.
Mr. Tilly is currently a board member of the OCC. He also served as a member of the Board of Directors of OneChicago, an all-electronic security futures exchange, and the National Stock Exchange (NSX). He received a degree in Economics from Northwestern University.
At the conclusion of the Annual Meeting, William J. Brodsky stepped down as Chairman and CEO, a position he has held since 1997. Mr. Brodsky will assume the new role of Executive Chairman of the Board.
Mr. Brodsky is Chairman and Chief Executive Officer of CBOE Holdings, Inc. and the Chicago Board Options Exchange. He serves as the options industry's leading advocate in shaping market policy and regulation. In June 2010, he guided CBOE through its demutualization, whereby the exchange converted its business model from a membership organization to a for-profit public corporation, and the initial public offering of CBOE Holdings, Inc. stock.
In October 2008, Mr. Brodsky was the first leader of a derivatives exchange to be named as Chairman of the World Federation of Exchanges (WFE) and served in that capacity for 2009 and 2010. He previously served as Vice Chairman of the WFE from 2007 to 2008.
Prior to joining CBOE, Mr. Brodsky served for 15 years at Chicago Mercantile Exchange (CME), where he oversaw the launch of the CME Globex trading system and played a pivotal role in the development and globalization of stock index futures. He joined CME in 1982 as Executive Vice President and Chief Operating Officer and, in 1985, was named President and Chief Executive Officer, a post he held until joining CBOE in February 1997.
Mr. Brodsky began his career as an attorney in the securities industry with the firm of Model, Roland and Company in 1968. In 1974, he joined the American Stock Exchange (AMEX) where he became head of options trading in 1976 and served as Executive Vice President for operations between 1979 and 1982. He also served for seven years as the AMEX representative on the board of The Options Clearing Corporation.
Mr. Brodsky serves as a director of Integrys Energy Group, Inc, an S&P 500 company, and is chair of the Board of Directors of Northwestern Memorial Hospital. He is a member of the Federal Reserve Bank of New York's International Advisory Committee, the Council on Foreign Relations in New York City, and the Executive Committee of the Commercial Club of Chicago. He is also the former chairman of the International Options Markets Association (IOMA).
He serves on the Kellogg School of Management Advisory Council and as a trustee of Syracuse University. Mr. Brodsky holds an A.B. degree and a J.D. degree from Syracuse University and is a member of the Bar in Illinois and New York.
CBOE Holdings also elected Edward J. Fitzpatrick as a new board member. ■