William J. Brodsky is an American businessman working as a director of the Securities Investor Protection Corporation,executive chairman of the Chicago Board Options Exchange,and chairman of the World Federation of Exchanges.
Brodsky earned a Bachelor of Arts degree from Syracuse University and a Juris Doctor from the Syracuse University College of Law. [1] [2] He was a member of the Phi Epsilon Pi fraternity. [3] Brodsky was advised and influenced by Syracuse law school professor Michael O. Sawyer. He later established the Michael O. Sawyer Chair of Constitutional Law and Politics at Syracuse's Maxwell School of Citizenship and Public Affairs. [1]
While at Syracuse Law School,Brodsky defeated future President Joe Biden for class president by a single vote. [3] To date,Brodsky is the only person to ever beat Biden in a non-primary election. [4] [5]
Brodsky joined Model,Roland &Co. in 1968. [6] Brodsky began career as a securities lawyer at the American Stock Exchange in 1974,and in 1976 became its head of options trading. He formally held the positions of the executive vice president at the American Stock Exchange from 1979 until 1982.
In 1982,he joined Chicago Mercantile Exchange (CME) in as executive vice president and chief operating officer. He was the president and CEO of the CME from 1985 until 1997. [7] He is a member of the Committee on Capital Markets Regulation and previously served as chairman of the International Options Markets Association (2006–2008). [8]
From 1997 to 2013,he was the chairman and CEO of the Chicago Board Options Exchange. [6]
In July 2019,Brodsky was named chairman of Navy Pier Inc.,a non-profit corporation that oversees the Navy Pier. [9]
In January 2022,President Joe Biden (and former class president rival) nominated Brodsky to serve as a director of the Securities Investor Protection Corporation. [10] After confirmation by the United States Senate,Brodsky started in this position on May 31,2022. [11]
He is married to Joan (Née:Breier),whom he met while they were students at Syracuse. [12] Two of their sons worked for Biden as interns on Capitol Hill and the families remain close. [1]
The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government,created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market manipulation.
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The Chicago Mercantile Exchange (CME) is a global derivatives marketplace based in Chicago and located at 20 S. Wacker Drive. The CME was founded in 1898 as the Chicago Butter and Egg Board,an agricultural commodities exchange. For most of its history,the exchange was in the then common form of a non-profit organization,owned by members of the exchange. The Merc demutualized in November 2000,went public in December 2002,and merged with the Chicago Board of Trade in July 2007 to become a designated contract market of the CME Group Inc.,which operates both markets. The chairman and chief executive officer of CME Group is Terrence A. Duffy,Bryan Durkin is president. On August 18,2008,shareholders approved a merger with the New York Mercantile Exchange (NYMEX) and COMEX. CME,CBOT,NYMEX,and COMEX are now markets owned by CME Group. After the merger,the value of the CME quadrupled in a two-year span,with a market cap of over $25 billion.
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The Chicago Board of Trade (CBOT),established on April 3,1848,is one of the world's oldest futures and options exchanges. On July 12,2007,the CBOT merged with the Chicago Mercantile Exchange (CME) to form CME Group. CBOT and three other exchanges now operate as designated contract markets (DCM) of the CME Group.
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Terrence A. Duffy is an American businessman. He is the chairman and chief executive officer of CME Group,a derivatives marketplace based in Chicago,Illinois.
Securities market participants in the United States include corporations and governments issuing securities,persons and corporations buying and selling a security,the broker-dealers and exchanges which facilitate such trading,banks which safe keep assets,and regulators who monitor the markets' activities. Investors buy and sell through broker-dealers and have their assets retained by either their executing broker-dealer,a custodian bank or a prime broker. These transactions take place in the environment of equity and equity options exchanges,regulated by the U.S. Securities and Exchange Commission (SEC),or derivative exchanges,regulated by the Commodity Futures Trading Commission (CFTC). For transactions involving stocks and bonds,transfer agents assure that the ownership in each transaction is properly assigned to and held on behalf of each investor.
The University of Notre Dame's annual commencement exercises are held each May,currently in the Notre Dame Stadium. The exercises award undergraduate and graduate degrees.
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