The John Lothian Newsletter has learned that Anthony (“Tony”) McCormick, formerly an executive with Charles Schwab and a CBOE board member, will be shortly be named CEO of the Boston Options Exchange. McCormick will begin work at BOX, as the exchange is known, on Monday.
McCormick is a long-time derivatives industry executive whose experience spans futures, options and stocks. He currently serves as a board member of the Options Clearing Corporation. He formerly was a member of the board of the Chicago Mercantile Exchange, where he served along side current TMX CEO Tom Kloet. TMX is the majority owner of BOX. He also served as a board member of the Chicago Stock Exchange.
He is the second brokerage industry executive that has been tapped to lead an options exchange in recent years. Ed Boyle who joined NYSE Arca Options in 2007 as head, was formerly with then TD Securities.
McCormick joined Schwab in April of 1998 as vice president of derivative markets. Prior to joining Schwab, he spent 12 years with Harris Futures Corporation and served as its CEO from 1993-97. During the same period, McCormick also served as managing director of capital markets for the Bank of Montreal and served on its Treasury board.