William Brodsky has been a pivotal figure in the listed derivatives markets for more than 35 years, serving as the top executive at several exchanges and spearheading the development of several major product innovations. He started in the industry in 1968 as a securities lawyer, then joined the American Stock Exchange in 1974 and became its head of options trading in 1976. He moved to the Chicago Mercantile Exchange in 1982 and was named the exchange’s President and Chief Executive Officer in 1985. During his 15 years at CME, he played a central role in the launch of the Globex electronic trading system and the introduction and expansion of stock index futures. In 1997, he moved across town to the Chicago Board Options Exchange as the exchange’s Chairman and Chief Executive Officer. During his 16 years at CBOE, he oversaw a period of tremendous growth in options trading as well as the development of new products such as volatility options and futures and the conversion of CBOE from a member-owned organization into a publicly-traded corporation. Throughout his career he has sought to educate end-users on the risk management benefits of futures and options and encourage greater use of these products as investment tools. He also has served as a leading advocate for the options industry, frequently travelling to Washington to speak with policymakers. In 2008, he was the first leader of aderivatives exchange to be named as Chairman of the World Federation of Exchanges and served in that capacity in 2009 and 2010.
