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Futures Hall of Fame 2019

In recognition of the outstanding contributions of members of the listed and cleared derivatives community, FIA established the FIA Futures Hall of Fame in 2005. Since its inception, the Futures Hall of Fame has honored the accomplishments and contributions of 144 remarkable individuals from around the world.

The Futures Hall of Fame is built on the idea that the people who lead this industry today owe much to the contributions made by those who came before them. We are benefiting from the ground they broke, and the programs and policies they put in place. These inductees have earned the respect and gratitude of market participants for laying the foundation for the extraordinary success of our industry.

This year, FIA adds 13 new members to the FIA Futures Hall of Fame. Please join us in celebrating the Futures Hall of Fame class of 2019, and in honoring the legacies that these distinguished men and women have left behind.

Magnus Böcker

Magnus Böcker’s career in the financial industry spanned three decades. He was CEO of the Singapore Exchange between 2009 and 2015, and prior to that he was president of Nasdaq OMX.

Robert T. Cox

Bob Cox was a vice president at the Federal Reserve Bank of Chicago and a long-time industry leader and former member of FIA’s board.

Paul Davies

Paul Davies spent over 30 years in the investment banking industry, primarily in futures and options, including 25 years at Goldman Sachs where he last served as managing director and chief executive officer of Goldman Sachs Futures in Singapore. Davies was instrumental in the formation and growth of FIA Asia (now part of FIA), serving as chairman of its board of directors and setting the organization on the successful path it has followed to this day.

Mitch R. Fulscher

Mitch Fulscher played an important role in the development of the financial futures markets as a partner in the Chicago office of Arthur Andersen. He helped to establish accounting and internal control standards for financial institutions and corporate users of newly introduced financial futures.

Anthony George Gero

George Gero is a managing director at RBC Wealth Management and serves on the COMEX Governors Committee. He previously was the vice president of Global Futures at RBC Capital Markets.

Phupinder S. Gill

Phupinder Gill retired as CEO of CME Group in 2016, after four years running the firm’s day-to-day operations and implementing strategic initiatives to expand CME’s core business into new areas of listed, overthe-counter and emerging markets. He first joined the company in 1988.

Christopher K. Hehmeyer

Chris Hehmeyer is the manager and chief executive officer of proprietary trading firm Hehmeyer LLC and its subsidiaries. He is a registered floor broker with the National Futures Association, and has served on NFA’s board of directors for nine years and is past chairman of the board.

Garry Jones

Garry Jones has over 35 years of experience in financial services, and has been CEO of three of the largest derivatives and OTC exchanges in Europe: BrokerTec, LIFFE and the London Metal Exchange.

Bonnie Litt

From 1989 through 2018, Bonnie Litt was a lawyer at Goldman Sachs, most recently serving as managing director and practice group head for its U.S. prime services practice that included prime brokerage, futures, cleared derivatives and securities clearing.

Andreas Preuss

Andreas Preuss served as a member of the executive board of Deutsche Börse from 2006 to 2018, and was its deputy CEO from 2008 to 2018. He is chairman of the supervisory board of 360 Treasury Systems and a member of the supervisory board of European Energy Exchange.

Michael Spencer

Michael Spencer began his career in 1976, as an investment analyst at Simon and Coates. In 1980, he joined Drexel Burnham Lambert where he spent three years broking futures.

Lee B. Stern

Lee Stern has been a member of the Chicago Board of Trade and the Chicago Mercantile Exchange since 1949, and is one of its longest serving active members. Stern is President of LBS Limited Partnership, a CBT member firm, and is a past director and chairman of several Chicago Board of Trade committees.

Kim Taylor

Kim Taylor was president of clearing and post-trade services at CME Group, retiring at the end of 2017. Previously, Taylor had served as president of global operations, technology & risk from 2014 to 2016.


Magnus Böcker
(Posthumous: 1961-2017)

Magnus Böcker’s career in the financial industry spanned three decades. He was CEO of the Singapore Exchange between 2009 and 2015, and prior to that he was president of Nasdaq OMX.

Böcker played an instrumental role in the creation of Nordic exchange and technology group OMX, serving as its CEO starting in 2003 and facilitating its 2008 merger with Nasdaq. Under his leadership, OMX became the world’s largest provider of technology solutions for exchanges and clearing organizations.

Following his career in the exchange industry, Böcker started Blibros, an investment company based in Singapore and Stockholm that focused on technology companies.

At the time of his death in July 2017, Böcker was serving as honorary chairman of the Securities Investors Association of Singapore. He also acted as a senior advisor to Bain & Co. in relation to financial markets, exchanges and fintech.

During his career, Böcker held many other notable positions such as chairman of the board at Orc Group, chairman of Dustin, chairman of the Diversity Action Committee of Singapore, non-executive chairman of Tricor Holdings, board member of the Shanghai International Financial Advisory Council and council member of the Institute of Banking and Finance in Singapore.

Robert T. Cox
(Posthumous: 1953-2018)

Bob Cox was a vice president at the Federal Reserve Bank of Chicago and a long-time industry leader and former member of FIA’s board.

Cox was a key advisor to the Federal Reserve Bank of Chicago on matters involving central counterparty risk and derivatives, serving as vice president in the financial markets group for the bank until his death in December 2018.

Before joining the Chicago Fed, Cox was the head of the listed derivatives and clearing business for HSBC in the Americas and the founder and head of the futures business of Goldman Sachs in East Asia. He also served as a board member at the Hong Kong Clearing Corporation and the Singapore International Monetary Exchange (SIMEX), and was a member of the Hong Kong Exchange Group’s Clearing Consultative Panel. In his early career he was a member of the Mid America Commodity Exchange in Chicago, where he was chairman of the Rules Committee and the Membership Committee.

Cox was a graduate of Northwestern University and studied at the International School of Manila, Philippines.

Paul Davies

Paul Davies spent over 30 years in the investment banking industry, primarily in futures and options, including 25 years at Goldman Sachs where he last served as managing director and chief executive officer of Goldman Sachs Futures in Singapore. Davies was instrumental in the formation and growth of FIA Asia (now part of FIA), serving as chairman of its board of directors and setting the organization on the successful path it has followed to this day.

Davies began his career in banking at Hill Samuel Bank in London prior to his move to Goldman Sachs in 1992. In 1996, he was sent to Singapore for a threemonth assignment which eventually turned into a stay of over 20 years.

Throughout his career, Davies had various sales and operations roles in Hong Kong, Tokyo and Singapore. He served in a variety of leadership roles across the Asia-Pacific region, including chairman of the Singapore Exchange Derivatives Advisory Committee, a member of the Singapore Exchange Disciplinary Committee and chairman of the board of directors for the DTCC Data Repository in Singapore.

Since his departure from Goldman Sachs, Davies has been managing his private investments and serving as director at Pimp My Tuk-Tuk, a philanthropic venture that raises funds to help the underprivileged children of Sri Lanka.

Mitch R. Fulscher

Mitch Fulscher played an important role in the development of the financial futures markets as a partner in the Chicago office of Arthur Andersen. He helped to establish accounting and internal control standards for financial institutions and corporate users of newly introduced financial futures.

In the 1970s, Fulscher played a key role in helping regulators and industry leaders understand how new interest rate futures contracts introduced by CME could be used as a tool for hedging interest rate risk, and how the products should be controlled, monitored and accounted for. He was widely respected as an expert in the area, advising banking and securities regulators as well as the newly established U.S. Commodity Futures Trading Commission on accounting and control standards. He worked closely with FIA to promote this evolving industry, and consulted on the establishment of the self-regulatory organization NFA.

Later, in Zurich, he formed a project team within Andersen and assisted in the creation of the first fully computerized trading exchange - SOFFEX.

Fulscher transferred to Arthur Andersen’s Tokyo office in the 1980s, where he started to organize FIA Japan. Fulscher would go on to serve as chairman of FIA Japan for 18 years, and currently continues his involvement as chairman emeritus.

Anthony George Gero

George Gero is a managing director at RBC Wealth Management and serves on the COMEX Governors Committee. He previously was the vice president of Global Futures at RBC Capital Markets.

Gero has served on the FCM committee of FIA and as the president of the International Precious Metals Institute. He also has served on the governing boards of the Cotton Exchange, NYMEX, COMEX and PHLX and as the chairman of the Commodity Floor Brokers and Traders Association.

Before joining RBC in 2005, Gero was a senior vice president of Legg Mason Wood Walker and at Prudential Securities, where he served as a first vice president for 22 years.

Gero has been a member of NYMEX since 1966 and served on its board of directors since 1976, and has been a member of COMEX since 1976, the American Stock Exchange since 1995, and the New York Board of Trade (eventually ICE Futures U.S.) since 1984.

He was elected to the board of the Financial Instruments Exchange (FINEX) and the New York Cotton Exchange in 1995. Commodity Clearing Corporation (now ICE Clear U.S.) elected him a director in 1996.

Previously, Gero served as a member of the joint task force, steering committee, swap and OTC derivative product committees of the Securities Industry Association.

Phupinder S. Gill

Phupinder Gill retired as CEO of CME Group in 2016, after four years running the firm’s day-to-day operations and implementing strategic initiatives to expand CME’s core business into new areas of listed, overthe-counter and emerging markets. He first joined the company in 1988.

From 2004 to 2012, Gill served as CME Group’s president and COO since 2004, where he oversaw the divisions responsible for products and services, technology, global operations, clearing, enterprise solutions, and research and product development.

From 2000 to 2003, Gill was managing director and president of CME Clearing. In 2003, he led the implementation of the company’s historic clearing agreement with the Chicago Board of Trade under which CME provided clearing and backoffice processing for all CBOT products. This agreement helped pave the way for the 2007 merger of the two institutions.

Previously, Gill was responsible for implementing the CLEARING 21 system and CME’s cross-margining arrangement with the Options Clearing Corporation.

Gill served on CME Group’s Board of Directors, as well as the board of the World Federation of Exchanges and WFE’s Regulatory Policy Committee. He continues to serve on the board of directors of First Midwest Bancorp Inc. and The Alexander Maxwell Grant Foundation.

Christopher K. Hehmeyer

Chris Hehmeyer is the manager and chief executive officer of proprietary trading firm Hehmeyer LLC and its subsidiaries. He is a registered floor broker with the National Futures Association, and has served on NFA’s board of directors for nine years and is past chairman of the board.

Hehmeyer is a member of the board of directors of FIA, where he has served in several capacities, including vice-chairman of the board.

Hehmeyer was one of the founding partners of Goldenberg, Hehmeyer & Co., a futures commission merchant and clearing member firm at the Chicago Board of Trade and CME Group. He was a managing director of Virginia Trading Corporation from 1981 until the establishment of the GHCO partnership in 1984. When GHCO was sold to Penson Worldwide in 2007, Hehmeyer became the CEO of Penson GHCO until 2010.

Hehmeyer became a full member of the CBOT in 1981 and was a member of its board of directors from 1984 to 1987 and served on over 40 committees. He also served on the board of governors of the Board of Trade Clearing Corporation from 1993 until 1999, and as chairman from 1996 to 1998. He began his career as a runner on the trading floor in 1977.

Garry Jones

Garry Jones has over 35 years of experience in financial services, and has been CEO of three of the largest derivatives and OTC exchanges in Europe: BrokerTec, LIFFE and the London Metal Exchange.

Jones was part of the initial management team at BrokerTec, becoming CEO and president before running ICAP Electronic Broking (Europe) — the forerunner of NEX. Under his leadership, Brokertec became the largest global OTC trading platform. Jones then joined NYSE Euronext in 2005 and was global head of derivatives and CEO of the NYSE LIFFE exchange. In 2013, he became co-head of markets at HKEX and CEO of the London Metal Exchange. He left HKEX in 2017, remaining an advisor to the company until 2018.

Jones was a founding member of the Futures and Options Association’s European Industry Council and was a member of the U.K.’s Financial Services Authority senior practitioner panel that advised on new policy initiatives. He served on the board of The Federation of European Security Exchanges and as alternate board member of the World Federation of Exchanges. Jones also served as a director of LCH.Clearnet as well as the Qatar Exchange.
GARRY

Bonnie Litt

From 1989 through 2018, Bonnie Litt was a lawyer at Goldman Sachs, most recently serving as managing director and practice group head for its U.S. prime services practice that included prime brokerage, futures, cleared derivatives and securities clearing.

At Goldman Sachs, Litt was a member of the firm’s exchange and clearing house review committee, its securities division client business standards committee and regional new products committee. Throughout her career, she was an active member of the FIA Law and Compliance Division, serving as a member of the executive committee from 1994 through 2018 and serving as the group’s president from 2008 to 2010. Litt also served on the CFTC Global Markets Advisory Committee from 2004 to 2009, the NFA board of directors from 2002 to 2006 and the NFA FCM Advisory Committee.

In 2018, Litt left Goldman to pursue her long-term interest in education reform and access by joining Success Academy Charter Schools as general counsel. She is also a member of the board of directors of Breakthrough New York, a 10-year college success program focused on low income New York children. She has been board chair of BTNY since 2016.

Andreas Preuss

Andreas Preuss served as a member of the executive board of Deutsche Börse from 2006 to 2018, and was its deputy CEO from 2008 to 2018. He is chairman of the supervisory board of 360 Treasury Systems and a member of the supervisory board of European Energy Exchange.

Preuss joined the Andersen Consulting project team that created the German Derivatives Exchange (Deutsche Terminbörse) in 1989 and witnessed its production launch in 1990. He joined DTB in 1990, initially as a member of the new products division and then as customer service director. In 1994, Preuss was appointed a member of the management board of Deutsche Börse, and in 1998 he became a member of the executive boards of the newly established Eurex Group.

In 2000, Preuss became president of Trading Technologies International in Chicago and eventually served as its chief operating officer and board member. In 2003, Preuss became a partner for Mako Group, a leading market maker in exchange-traded options, and then in 2006 he re-joined Deutsche Börse as a member of the executive board.

Preuss served as CEO of Eurex Group from 2006 to 2016 and was Deutsche Börse’s COO/CIO from 2016 to 2018. He is a member of the board of directors of the World Federation of Exchanges and served as its chairman from 2012 to 2014.

Michael Spencer

Michael Spencer began his career in 1976, as an investment analyst at Simon and Coates. In 1980, he joined Drexel Burnham Lambert where he spent three years broking futures.

Between 1983 and 1986, Spencer was a director at money broker Charles Fulton, until his involvement in the new interest rate swaps market led him to set up Intercapital in 1986. Intercapital grew over 10 years from four original staffers to over 300 employees with offices in London, New York and Sydney.

In October 1998, Intercapital merged with EXCO, a listed money broker. The following year it merged again with Garban to form ICAP and named Spencer as its chief executive. In 2016, ICAP sold its global hybrid voice broking business to Tullett Prebon and the remaining ICAP businesses formed a new company called NEX Group where Spencer remained as chief executive.

In 2018, NEX reached an agreement to be acquired by CME Group. After completion of the transaction, Spencer joined the CME Board in addition to working as a special adviser focused on integrating the business and evolving its client offerings.

Spencer was named the Ernst & Young World Entrepreneur of the Year 2010.

Lee B. Stern

Lee Stern has been a member of the Chicago Board of Trade and the Chicago Mercantile Exchange since 1949, and is one of its longest serving active members. Stern is President of LBS Limited Partnership, a CBT member firm, and is a past director and chairman of several Chicago Board of Trade committees.

In 1975, Stern founded the Chicago Sting which won the North American Soccer League Championships in 1981 and 1984. A past chairman of the NASL and MISL executive committees, he played an important role in bringing the 1994 World Cup to Chicago. Stern was elected to the US Soccer Hall of Fame and the Chicago Sports Hall of Fame. Stern has been an owner/director of the Chicago White Sox since 1975, first with the Bill Veeck group and in 1981 with Jerry Reinsdorf as a member of the Corporate General Partnership.
LEE

Kim Taylor

Kim Taylor was president of clearing and post-trade services at CME Group, retiring at the end of 2017. Previously, Taylor had served as president of global operations, technology & risk from 2014 to 2016.

Before that, Taylor served as president of CME Clearing since 2004 when CME began clearing all Chicago Board of Trade contracts. She led the clearinghouse through the challenges of CME’s subsequent acquisitions of CBOT and the New York Mercantile Exchange, as well as leading the industry through the 2008 financial crisis and the MF Global bankruptcy in 2011.

Taylor joined CME in 1989 as a senior analyst, assuming responsibility in 1998 for risk management and serving on the CME executive management team from 2004 until her retirement. She currently serves on the boards of directors for First Midwest Bank, Eventus Systems, and Alma College and previously served on the board for both ISDA and the Illinois Math and Science Academy.

In 2014 Crain’s Chicago Business named Taylor number nine on its list of the top 20 most powerful women in Chicago business.
KIM

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