The CEO of the BOX Options Exchange has stepped down as the CEO of the business side of the exchange, according to industry sources. [[Tony McCormick]] will remain as a consultant to the business side, BOX Markets, LLC, and will remain as CEO of the BOX exchange for the time being. [[Peter Layton]], the chairman of BOX, will become the acting CEO.
BOX is one of 12 U.S. equity options exchanges and has struggled to break out from the competition. In February, BOX held a 2.5 percent market share among the US options exchanges, down from 3.53 percent a year earlier, according to OCC data.
McCormick, a former brokerage executive with Charles Schwab and Harris Bank, has been CEO of BOX since 2009. He had also previously served as a board member of [[CBOE]] and [[OCC]].
BOX is this year’s host of the [[OIC]] conference, set in Miami, Florida May 6-8.