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Futures Hall of Fame 2015

On March 11, 2015, FIA announced the induction of 13 members into the FIA Futures Hall of Fame. They join 117 other honorees in the Hall of Fame, which was established in 2005 on the occasion of FIA’s 50th anniversary. The 13 new members were honored at an awards ceremony during the 40th annual International Futures Industry Conference in Boca Raton, Fla.

The FIA Futures Hall of Fame was established to celebrate the accomplishments and recognize the significant contributions that certain individuals have made to the futures and options industry over the course of its history.

“The FIA Futures Hall of Fame is comprised of innovators, advocates, and dedicated contributors to our industry,” said Walt Lukken, president and chief executive officer of FIA.  “These 13 new inductees helped lay the foundation for the industry’s extraordinary success.  We are grateful for their service and honored to present them with this recognition.”

The following individuals were inducted into the Hall of Fame:

 

Anthony M. BelchambersAnthony M. Belchambers

Futures Hall of Fame 2015

Anthony Belchambers established the Futures and Options Association—now FIA Europe—in London in 1993 to provide an industry voice for the growing European futures markets and remained its executive officer for just over 20 years. A respected authority on regulatory matters and strong advocate of industry best practice, Anthony represented the interests of the listed derivatives industry on a range of key issues during a period of substantial regulatory change. He also initiated the establishment of parliamentary groups in London and Brussels and he was a co-founder, in its original form, of the Alternative Investment Management Association and the International Cross– Border Regulation Forum.

 

Fernando CentellesFernando Centelles

Futures Hall of Fame 2015 (Posthumous 1958-2013)

Fernando Centelles played a central role in the development of Spain’s futures and options market. He joined the Spanish exchange MEFF at its inception in 1989 and became its chief executive officer in 2006, a position he held until his death in October 2013. Under his leadership, MEFF attracted new members and users from the international trading community, developed a successful electronic trading platform with hubs in London and Chicago, and introduced new products such as single stock futures. He also served on the board of MexDer, the Mexican derivatives exchange and as a trustee of the Institute for Financial Markets in the U.S.

 

C. Saxby ChamblissC. Saxby Chambliss

Futures Hall of Fame 2015

Saxby Chambliss devoted 20 years to public service in the U.S. Congress. He served on both the House and Senate agriculture committees and took a leadership role in matters involving derivatives policy and the Commodity Futures Trading Commission. During the development of CFTC reauthorization legislation in 2006-2007, he served as chairman of the Senate Agriculture Committee and authored many of the provisions that ultimately were enacted in 2008. Following the financial crisis of 2008-2009, he served as the ranking Republican member of the committee and worked tirelessly to improve the derivatives title of the Dodd-Frank Act.

 

John L. FoyleJohn L. Foyle

Futures Hall of Fame 2015

John Foyle spent 28 years nurturing and growing the London Financial Futures Exchange. He had the vision, patience, personality and diligence to tackle the most difficult issues as well as the skills and determination to move ideas to reality. From his success in working with the floor members to his support for the development and marketing of Liffe Connect, the exchange’s ground-breaking electronic trading platform, John was a constant and indispensable member of the exchange’s leadership until he retired in 2009. He had a strong public role as well, serving on the board of the Association of Futures Brokers and Dealers, the earliest futures regulatory body in the U.K., and helping to establish several associations of exchanges.

 

Thomas A. KloetThomas A. Kloet

Futures Hall of Fame 2015

Tom Kloet is best known as an affable Midwesterner who transformed two international exchanges—Singapore’s SGX and Canada’s TMX Group—and emerged from these tumultuous undertakings with the respect and admiration of all involved. As the first chief executive officer and executive director at SGX from 2000 to 2002, he led the exchange through its transition from a small mutually owned enterprise to a publicly traded company. In 2008 he became chief executive officer of TMX Group and oversaw the integration of the Montreal Exchange. His career also included long stints in senior roles at leading futures brokers such as Credit Agricole, ABN AMRO and Newedge, giving him a perspective that spanned both sides of the industry.

 

David KrellDavid Krell

Futures Hall of Fame 2015

David Krell has been a leader and innovator in the options industry, with a career that spans more than 35 years. In 1997 he co-founded International Securities Exchange, the first fully electronic options exchange, and served as its first president and chief executive officer. ISE grew to become one of the largest options exchanges in the world and helped pave the way for greater competition among trading venues and a tremendous expansion in the size of the U.S. listed options markets. Following ISE’s merger with Deutsche Börse in 2007 and its integration with Eurex, he was named chairman of the board and continues to serve in that capacity.

 

Wayne P. LuthringshausenWayne P. Luthringshausen

Futures Hall of Fame 2015

Wayne Luthringshausen was a key figure in the tremendous expansion of the listed options markets in the U.S. He was part of the team at the Chicago Board of Trade that developed the first central marketplace for the trading of listed options contracts, the Chicago Board Options Exchange. In April 1973, with the commencement of trading at the CBOE, he was put in charge of the exchange’s clearinghouse. Two years later, he spearheaded the restructuring of the clearinghouse as a separate entity, The Options Clearing Corporation, with the mission to become the common clearinghouse for options markets. He was the OCC’s first chief executive officer and spent 40 years leading the clearinghouse.

 

Merton H. MillerMerton H. Miller

Futures Hall of Fame 2015 (Posthumous 1923-2000)

Merton Miller, the late Nobel prize-winning economist, spent a lifetime championing the importance of free markets and the value of futures to the financial system and the broader economy. One of his defining moments came after the stock market crash of 1987, when he challenged the many public voices who sought to blame the Chicago futures markets for the crash. He chaired the CME’s special academic panel that analyzed the crash and determined that the exchange’s stock index futures in fact had saved the market system by providing liquidity at a time when securities markets were closed.

 

Ravi NarainRavi Narain

Futures Hall of Fame 2015

Ravi Narain was critical in helping to develop India’s securities markets. He helped set up the Securities and Exchange Board of India, the country’s first market regulatory agency, as well as the National Stock Exchange of India, the country’s first fully electronic exchange with a national reach. By increasing the transparency of prices and the efficiency of settlement, NSE forced other exchanges to modernize their technology and improve their trading practices. NSE introduced futures in 2000 and quickly developed a hugely popular suite of index futures and options, once again serving as the catalyst for change. Ravi served as the exchange’s chief executive officer from its inception in 1994 until April 2013.

 

Robert D. RayRobert D. Ray

Futures Hall of Fame 2015 (Posthumous 1954-2014)

Bob Ray was a respected peer, beloved colleague and trusted mentor to many people in the futures industry. He spent many years working at brokerage firms, then joined the Chicago Board of Trade in 2002, where he helped create a more business-driven and customer-focused approach. After the Chicago Mercantile Exchange purchased the CBOT, Bob stayed with the organization and moved to Europe to build CME’s EMEA offices. Bob forged strong relationships with customers, he was equally comfortable working on a trading floor and leading an exchange, and above all, he was a passionate advocate for the futures industry for nearly 30 years.

 

David R. SettersDavid R. Setters

Futures Hall of Fame 2015

David Setters is a long-time champion of the futures industry through his work in media and publishing. Shortly after the launch of financial futures in London in 1982, he launched the monthly magazine Futures and Options World. He spearheaded FOW’s growth, which included additional electronic and specialist titles and the organization of industry events, including FOW’s annual derivatives exhibition in 1991, which became the forerunner of today’s IDX. After 22 years running FOW’s commercial business, David joined Contango Markets, a consulting firm. He is also a founder trustee of the Londonbased futures industry charity Futures for Kids.

 

Jürg SpillmannJürg Spillmann

Futures Hall of Fame 2015

Jürg Spillmann was a technology pioneer in the futures industry and during his three decades in the industry he played a key role in the migration from open outcry to electronic trading. His work in the industry began in 1987 with the Swiss Options and Financial Futures Exchange, where he helped launch the exchange’s first electronic trading system. That system became the platform for DTB, the first successful electronic exchange in the futures industry and the predecessor of Eurex. Ultimately SOFFEX was merged into Eurex and from 1997 he held senior positions at Eurex and helped advance the exchange’s technology until his retirement in 2013.

 

Barbara B. WierzynskiBarbara B. Wierzynski

Futures Hall of Fame 2015

Few people have had as much influence on the legislative and regulatory framework of the U.S. futures industry as Barbara Wierzynski. She joined FIA as vice president for regulatory affairs in 1986 and was promoted to general counsel in 1989 and served in that role until she retired in 2014. Besides devoting countless hours to working with the association’s members, she guided the industry’s dialogue with regulators on a long list of challenging issues, including the crash of 1987, the collapse of Barings Bank, the terrorist attacks of 9/11, and the perennial battles over the reauthorization of the Commodity Futures Trading Commission.

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