Bill Brodsky has been a fixture of the derivatives markets for the better part of 50 years — at the (then) American Stock Exchange, CME and CBOE. He recently stepped down from the CBOE after two decades as the CEO and then chairman of the exchange.
At each stop, Brodsky ushered in periods of change. He helped put AMEX on the options map in the ’70s; oversaw the launch of the electronic trading system Globex and of options on futures as CEO of the CME; and as CEO of the CBOE, took the exchange public and helped the birth of the VIX as a tradeable index (not to mention CBOE’s recent tie-up with Bats).
Brodsky was interested in markets from an early age, recalling how his father — himself involved in the securities business — would scan prices in the morning and evening editions of the newspaper. But his exposure to the ins and outs of trading truly started when he got a summer job on the floor of the NYSE. That summer job led to a series of other summer jobs that revolved around trading while he was in school. After getting a law degree, he joined his father’s investment banking firm. His association with options, in those days considered the backwaters of the derivatives industry, came about by chance.
In this JLN Video, Brodsky reflects on his storied career and the hurdles he overcame.