John Shay Shoulders AFX Role With Optimism and Purpose

Sep 18, 2023

John Lothian

John Lothian

Executive Chairman and CEO

John Shay, the CEO of the American Financial Exchange, took on the role after 7RIDGE bought the exchange from AFX Founder and former CEO Dr. Richard Sandor and the other AFX investors. He was interviewed over Zoom by John Lothian News about AFX and his views on the role of Ameribor.

JLN asked him about how he found his way to the role of CEO and where he thinks Ameribor fits in a world where SOFR has emerged as the dominant replacement for Libor.

Shay addressed the issue of the IOSCO report from July 3 that spoke negatively about Ameribor and non-SOFR Libor alternatives.

He also talked about some of the additional credit products that AFX could offer in the future.

JLN also asked him his thoughts on the changes in Canada with the imminent introduction of Term CORRA futures.

Lastly, we asked him what the biggest challenge was that he faced personally in the new role.

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Williams Bay, WI (JLN) – Describing Joe Biden’s debate performance last week, New Yorker Editor David Remnick quoted Mark Twain, writing, “It is sad to go to pieces like this, but we all have to do it.”

I can identify with that quote. Some of my physical health issues are like those of President Biden, and last week the degradation of my physical abilities caused me to miss my connection between London and Chicago.

The health issues I share with President Biden include obstructive sleep apnea, gastroesophageal reflux, seasonal allergies, spinal arthritis and peripheral neuropathy in the feet.

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Growing up in a town reliant on iron ore mining, Knuckman was exposed to the cyclical nature of commodities from a young age. His grandfather, a loadmaster, was integral to the iron ore industry, loading wood pellets onto boats that would traverse the Great Lakes to Indiana for steel production. This early exposure instilled in Knuckman a keen awareness of booms, busts, and the intricate workings of commodity markets.

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David Downey does not call me very often, but when he does, it is important. He called me on June 25. Unfortunately, I was in London and missed the call.

There is also this strange thing that happens when someone calls me from the Cboe and their caller-ID has the general Cboe number on it, the same one I still have in my phone for the work phone for Downey from his days at OneChicago. Downey appears to be calling me. Thus, sometimes when I get a call from a Cboe PR person, it comes up on my phone as Downey.

But on Monday, the real David Downey called with something important. Back on June 24, the CFTC had approved the registrations of a project he has been working on, ForecastEx, LLC. The CFTC approved both the DCM and DCO applications for this privately held company owned by Interactive Brokers Group, LLC. 

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Williams Bay, WI (JLN) – Describing Joe Biden’s debate performance last week, New Yorker Editor David Remnick quoted  Mark Twain, writing, “It is sad to go to pieces like this, but we all have to do it.”

I can identify with that quote. Some of my physical health issues are like those of President Biden, and last week the degradation of my physical abilities caused me to miss my connection between London and Chicago. 

The health issues I share with President Biden include obstructive sleep apnea, gastroesophageal reflux, seasonal allergies, spinal arthritis and peripheral neuropathy in the feet.

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