William J. Brodsky

William J. Brodsky is chairman and chief executive officer of the Chicago Board Options Exchange (CBOE).^[1] He has occupied that office since 1997.

In December 2011, Brodsky was named FOW Person of the Year.^[2] In January 2012, Brodsky was appointed as the chairman of the board of the Streeterville hospital in Chicago, a part of Northwestern Memorial HealthCare.^[3]

Before joining the CBOE, Brodsky served for 15 years at the Chicago Mercantile Exchange, where he oversaw the launch of CME Globex and played a significant role in the development of stock index futures. He joined the CME in 1982 as executive vice president and chief operating officer. In 1985 he was named president and chief executive officer, which he remained until he joined the CBOE.^[4]

Brodsky in February 2009 became the first executive of a derivatives exchange to assume chairmanship of the World Federation of Exchanges (WFE). He was previously vice chairman of the WFE.^[5] He was succeeded as chairman by Ronald Arculli of Hong Kong Exchanges and Clearing in 2010.^[6][7]

Brodsky is a committee member of the Committee on Capital Markets Regulation,^[8] a group of industry leaders and academics that offered 57 recommendations including a reduction in the number of regulatory bodies, an arrangement that would give the Federal Reserve added power and create a single U.S. financial services authority.^[9] He also serves on the CFTC Global Markets Advisory Committee.^{[10] [11]}

In June of 2011, Brodsky and two other Chicago dads were honored in Chicago by the American Diabetes Association as "Fathers of the Year."

Background

Brodsky began his career as an attorney in the securities industry with the firm of Model, Roland and Company in 1968. In 1975, 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 as the AMEX representative on the board of The Options Clearing Corporation. In 1994, the AMEX honored him for his role in the ministration.^[12][13]

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.

Awards

Brodsky was selected for induction into the Derivatives Hall of Fame in April 2000 and the Junior Achievement Chicago Business Hall of Fame in October 2001. He was awarded the "Lifetime of Achievement Award" by the Anti-Defamation League in June 2003. In 2009, Brodsky was recipient of the Joseph W. Sullivan Options Industry Achievement Award to recognize individuals who have made outstanding contributions to the growth and integrity of the U.S. options market.

Brodsky also received the William F. Sharpe Indexing Lifetime Achievement Award for his career-long support of index products as risk-management tools. The award was presented in December 2009 at the Super Bowl of Indexing Conference in Phoenix, Arizona.^[14]

Education

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.

Testimony

• [1]. Testimony before the U.S. House Financial Services Committee on the Administration’s Financial Regulatory Reform Proposal, 7/17/09]

• After The Crash: Linkages Between Stocks and Futures

OpEds/Press

• OpEd: "No failures, no closures, no taxpayer rescues," Financial Times, Sept. 24, 2009^[15]

• OpEd: "A Real Regulatory Redundancy," Wall Street Journal, Oct. 19, 2007^[16]

References

1. ↑ CBOE 2007 Annual Report. CBOE.
2. ↑ FOW Person of the Year: CBOE's William J Brodsky. FOW.
3. ↑ Northwestern Memorial names Bernick, Brodsky to board posts. Crain's Chicago Business.
4. ↑ William J. Brodsky Biography. Chicago Board Options Exchange.
5. ↑ WFE Board of Directors. World Federation of Exchanges.
6. ↑ Board of Directors. World Federation of Exchanges.
7. ↑ 2010 Annual Report & Statistics. World Federation of Exchanges.
8. ↑ Committee Members. Committee On Capital Markets Regulation.
9. ↑ U.S. Financial Rules Need Overhaul, Fewer Agencies, Group Says. Bloomberg.
10. ↑ Global Markets Advisory Committee Members. Commodity Futures Trading Commission.
11. ↑ CFTC, Toothless Regulator, Looks to Take a Bite Out of Derivatives. Huffington Post.
12. ↑ Obama's SEC Chair, Any Guesses?. Clusterstock.com.
13. ↑ [http://news.yahoo.com/s/bloomberg/20081107/pl_bloomberg/azqk6awcfnam_1 Obama's Pick for SEC Is `Urgent' Task, Lawmakers Say]. Bloomberg via Yahoo.
14. ↑ CBOE CHAIRMAN AND CEO WILLIAM BRODSKY RECEIVES INDEXING LIFETIME ACHIEVEMENT AWARD AT SUPER BOWL OF INDEXING CONFERENCE. CBOE.
15. ↑ "No failures, no closures, no taxpayer rescues, Financial Times (Trading Room), Sept. 24, 2009. CBOE.
16. ↑ "A Real Regulatory Redundancy, WSJ, Oct. 19, 2007. CBOE.