Steve Fanady

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Steve Fanady
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.[1]

Background

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.[2][3]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.[4]

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.[5]

Education

Resources

References

  1. MGEX Board Of Directors Appoints Public Directors, Officers and Committee Chairpersons. MGEX.
  2. CBOT Holdings Inc.. SECInfo.com.
  3. CBOT Minority Suit Back In Big Way. FindArticles.
  4. Chicago Options Board Close To Deal To Allow Exchange To Go Public. Financial Post.
  5. Higher CME Bid Appears To Lock Up CBOT Vote. Crain's Chicago Business.