In 2009, he served as a panelist in the U.S. Securities and Exchange Commission's Securities Lending and Short Sale Roundtable. He currently serves on the CFTC Global Markets Advisory Committee. 
In 1985 he began trading as a member of the CBOE and over the years held memberships at the CBOT and the CME. In 1991 he assumed the title of vice president of U.S. floor trading operations for Timber Hill and was instrumental in the spread of electronic tools for traders on the various exchange floor. In 1995, Downey turned his attention to the development of Interactive Brokers (IB) where he served as executive vice president.
Downey is a 1982 graduate of Boston College where he earned bachelor of arts degrees in Economics and Political Science.
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