Cboe Consolidates Boards12.28.2017 By Rob Daly Editor-at-Large
Cboe Global Markets, one of the world’s largest exchange holding companies, today announced changes in the membership of the boards of its six U.S. securities exchanges: Cboe BZX Exchange, Cboe BYX Exchange, Cboe EDGA Exchange, Cboe EDGX Exchange, Cboe Options Exchange and Cboe C2 Options Exchange. As a result of the changes, Cboe’s six U.S. securities exchanges will have the same six directors as of January 1, 2018.
Directors Matthew Billings, senior vice president at Scottrade, Inc., Alexander “Sandy” Kemper, chairman of The Collectors Fund and chairman and CEO of C2FO, and Joseph Mecane, head of execution services at Citadel Securities, will resign from the boards of Cboe BZX Exchange, Cboe BYX Exchange, Cboe EDGA Exchange and Cboe EDGX Exchange effective upon the close of business on December 31, 2017.
The current directors of the Cboe Options Exchange and Cboe C2 Options Exchange boards, with the exception of Cboe Global Markets Chairman and CEO Ed Tilly, will also resign from the Cboe Options Exchange and Cboe C2 Options Exchange boards, but will remain directors on the Cboe Global Markets board.
New board members Bruce Andrews, chairman of Cboe’s business conduct committee and a former Cboe Options Market-Maker, and Kevin Murphy, former managing director of Citigroup, will join Mr. Tilly and the three remaining current exchange directors, David Roscoe, Jill Sommers and Scott Wagner, in serving as directors of all six Cboe U.S. securities exchange boards going forward.
“On behalf of Cboe, I would like to thank Matt Billings, Sandy Kemper and Joe Mecane for their outstanding service to our U.S. exchange boards. Each contributed to the growth of our exchanges, and we are grateful to them for their leadership, guidance and dedication,” Mr. Tilly said.
“We welcome incoming board members Bruce Andrews and Kevin Murphy,” Mr. Tilly added. “Each brings unique insight and industry experience to our boards, and I am confident our exchanges will benefit from their expertise.”
Cboe Global Markets, formerly CBOE Holdings, Inc., completed its acquisition of Bats Global Markets earlier this year, on February 28, 2017.
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