|Occupation||Market Maker, Trader, Multiple Exchange Seatholder|
Steve Fanady is a multiple seat owner at the Chicago Board Options Exchange (CBOE) and CME Group (CME). He was named a 2008-2009 public director at the MGEX (Minneapolis Grain Exchange) in October of 2008.
Fanady was a named "minority member" plaintiff in the long-running CBOE trading exercise rights case filed against the CBOT's 1,402 full member class.Eventually, he was a vocal supporter of a legal settlement with the CME Group's Chicago Board of Trade that defined which CBOT class members qualified for an ownership stake in the options market and which qualified only for a cash payment.
He used the CBOT's old members-only electronic bulletin board - TradeTalk - to speak against the planned CME takeover of the Chicago Board of Trade until the CME boosted its offer so that CBOT members would receive 0.375 of a CME share for every CBOT share, up from the original offer of 0.3006, boosting the value of the deal by 24.5 percent to $10.8 billion.
- ↑ MGEX Board Of Directors Appoints Public Directors, Officers and Committee Chairpersons. MGEX.
- ↑ CBOT Holdings Inc.. SECInfo.com.
- ↑ CBOT Minority Suit Back In Big Way. FindArticles.
- ↑ Chicago Options Board Close To Deal To Allow Exchange To Go Public. Financial Post.
- ↑ Higher CME Bid Appears To Lock Up CBOT Vote. Crain's Chicago Business.