William J. Brodsky

Initiatives launched by his administration include the formation of a Strategic Planning Task Force that conducted a comprehensive examination of the options business, resulting in a massive internal reorganization of staff and the floorwide expansion of CBOE’s proprietary DPM (Designated Primary Market Maker) system to enhance customer service on CBOE’s trading floor. In addition, CBOE began development of a screen-based trading system, CBOEdirectTM, while simultaneously upgrading CBOE’s highly-automated trading floor.

Mr. Brodsky began his career as an attorney in the securities industry with the firm of Model, Roland and Company in 1968. In 1974, Mr. Brodsky joined the American Stock Exchange (AMEX) where he became head of options trading in 1976 and served as executive vice president for operations between 1979 and 1982. He also served as the AMEX representative on the board of The Options Clearing Corporation. In 1994, the AMEX honored Mr. Brodsky for his role in the development of its options programs.

Mr. Brodsky joined the Chicago Mercantile Exchange (CME) in 1982 as executive vice president and chief operating officer. He was named president and chief executive officer in 1985, and served in that capacity until joining CBOE in February, 1997. Perhaps the most enduring legacy of his 11-year term as president of the CME was in his role in product development, particularly in the area of stock index futures and options. Several of the instruments he developed were created in conjunction with the CBOE, including equity derivatives based on the Standard & Poor’s® Indices, Nasdaq 100 Index®, Mexican IPC, S&P 500®/BARRA Growth and Value Indices and the Russell 2000® Index.

Mr. Brodsky serves as a director of the Peoples Energy Corporation, the Futures Industry Association and the Swiss Futures and Options Association. He is a member of the Federal Reserve Bank of New York’s International Advisory Committee. Mr. Brodsky was selected for induction into the Derivatives Hall of Fame in April 2000.

Mr. Brodsky also serves on the J.L. Kellogg Graduate School of Management Advisory Council, and as a trustee of Syracuse University. He is a member of the board of trustees of the Northwestern Memorial Hospital Corporation, where he chairs its Investment Committee and a member of the Council on Foreign Relations in New York City.

Mr. Brodsky holds an A.B. degree and a J.D. degree from Syracuse University and the Syracuse University School of Law and is a member of the bar in Illinois and New York.