First American Discount Corporation
First American Discount Corporation was a brokerage firm founded by William Mallers, Sr. and Leslie Rosenthal in the early 1984. FADC, as it was called, was a futures commission merchant based in Chicago offering discount retail futures brokerage services.
FADC was registered with the National Futures Association as an FCM from May 25, 1984 to December 8, 2000. At one time it was a clearing member of the Clearing Corporation and cleared the Chicago Board of Trade and the MidAmerican Commodity Exchange.
The firm originally cleared through Rosenthal, now Rosenthal Collins Group. Its first offices where in the CBOT Building. It later moved to 216 West Jackson, and ultimately to the Sears Tower (now Willis Tower).
The firm was sold to Man Financial, part of Man Group PLC, in October of 2000. Just after being sold to Man, FADC was briefly suspended from membership by the National Futures Association. Two months later FADC withdrew from NFA registration.
Those who worked at FADC included:
- William Mallers, Sr.
- William Mallers, Jr.
- Joanna Mallers
- Tom Mallers
- John J. Lothian
- Carl Gilmore
- Chuck Bohm
- Brian Rice
- John Person