William (Bill) Mallers left an enduring mark on the futures industry with his pioneering vision and exceptional leadership, and his contributions continue to influence the futures trading landscape today.
Mallers made history by becoming the youngest chair ever elected at the Chicago Board of Trade. In 1969, at just 39 years old and running against the CBOT nominating committee's choice, he marked himself as a maverick leader. His leadership played a crucial role in molding the futures markets during a transformative era marked by substantial growth.
As a wheat broker in the CBOT trading pits, Mallers boasted a substantial retail and commercial order book, and he played a pivotal role in facilitating the fulfillment of Russian wheat purchases from the US through CBOT wheat futures contracts in the early 1970s. Before founding First American Discount Corporation (FADC), one of the earliest discount retail futures brokerage firms in 1984, Mallers served as president of Chicago-based brokerage firm, Hennessy & Associates.
Mallers' legacy is intertwined with momentous milestones in the futures industry. He played a pivotal role in founding the Chicago Board Options Exchange, which revolutionized options trading. His contributions extended to the establishment of the National Futures Association, transforming regulatory oversight of the futures markets. He also contributed to the expansion of the CBOT Building, enabling the growth of financial futures and options products.
Mallers passed away in 2006, at the age of 77, leaving behind an enduring legacy as a visionary leader and pioneer in Chicago's financial markets.
