Les Hosking, currently managing director of the National Electricity Market Management Company, served as the chief executive and managing director of the Sydney Futures Exchange from 1985 to 2000. Hosking transformed SFE from a small domestic commodity exchange into a truly international financial futures market. Under his leadership, SFE was the first exchange out side of the U.S. to launch financial futures (1979), stock index futures (1983}, and individual share futures (1994). Hosking was also ahead of the curve in terms of the push from floor to screen-based trading. Under his leadership, SFE rolled out Sycom in 1989, making it one of the first exchanges anywhere in the world to offer screen trading as an alternative to open outcry. Ten years later, SFE was one of the first exchanges to permanently close its trading floor and convert to all-electronic trading. Hosking is also remembered for his "locals program"-an initiative to get Chicago-based traders to come to Australia and share their expertise during SFE's formative years-and his koala bears at FIA Futures & Options Expo. But most importantly, Hosking was more than the CEO of SFE. He was truly a founder of the whole futures industry in Australia.
