William Mallers, Sr.

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William Mallers, Sr.

William (Bill) Mallers, Sr. was a former chairman of the Chicago Board of Trade and the founder of First American Discount Corporation, a Chicago-based futures commission merchant.[1][2][3] He died in 2006 at the age of 77.


Mallers was the youngest man ever elected to be chairman of the Chicago Board of Trade. He was 39 years old in 1969 when he was elected CBOT chairman as a maverick candidate, one not slated by the nominating committee.

Originally a wheat broker in the CBOT trading pits, Mallers had a large retail and commercial order book. He was one of the brokers who bought wheat futures to fill the Russian wheat purchased from the U.S. in the early 1970s. He was also president of a prominent Chicago-based brokerage firm, Hennessy & Associates prior to founding First American Discount Corp.

At FADC, Mallers led the training of a group of employees, which included his sons Bill Mallers, Jr. and Tom Mallers, andJohn J. Lothian, founder of MarketsWiki.[4][5][6]

He was prominently involved in many CBOT and futures industry watershed events of the late 60’s and 1970’s, including the creation of the Chicago Board Options Exchange, the creation of the National Futures Association and the expansion of the CBOT building.


Mallers was a 1946 graduate of Loyola Academy, in Wilmette, IL.[7]


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