CBOE Chairman and CEO William Brodsky receives Indexing Lifetime Achievement Award at Super Bowl of Indexing Conference

CBOE Chairman and CEO William Brodsky receives Indexing Lifetime Achievement Award at Super Bowl of Indexing Conference

17/12/09

William J. Brodsky, Chairman and CEO of the Chicago Board Options Exchange (CBOE), has received the William F. Sharpe Indexing Lifetime Achievement Award for his career-long support of index products as risk-management tools. The award was presented earlier this month at the Super Bowl of Indexing Conference in Phoenix, Arizona.

Brodsky is a 40-year veteran of the options, stock and futures business. At CBOE Brodsky furthered the addition of index benchmarks and tradable products based on index benchmarks, including CBOE Volatility Index (VIX) futures and options. Under Brodsky's leadership, CBOE also has added key strategy-based indexes to its list of innovations - among them the CBOE S&P 500 BuyWrite Index (BXM), the first major benchmark index for options performance, and the CBOE S&P 500 PutWrite Index (PUT), thefirst major benchmark index for short put options performance.From 2000 through 2008, CBOE's average daily volume of index-related options trading (both index and ETF options) has grown more than 1100 percent, with a compounded annual growth rate of 37 percent.

Prior to CBOE, Brodsky in 1982 brought his equity market experience to Chicago Mercantile Exchange (CME) during the early developmental stages of stock index futures. During his 15 years with CME, a wide variety of indexes on small-, mid- and large-cap markets were listed, and Brodsky also was integrally involved in issues that affected the success of index products - cross-margining, new settlement conventions for stock index futures, coordinated circuit breakers between Chicago and New York, and the expansion to virtually 24-hour trading for stock index futures products.

This is the sixth time in six years that CBOE has received awards at the Super Bowl of Indexing Conference. Past CBOE awards include: in 2008, Joe Levin, CBOE Vice President, Research and Product Development (Lifetime Achievement Award); in 2004, the CBOE S&P 500 BuyWrite Index (Most Innovative Benchmark Index); and in 2007, the CBOE S&P 500 PutWrite Index (Most Innovative Benchmark Index). Futures and options on the CBOE Volatility Index (VIX) earned the distinction as the Most Innovative Index Derivative Product in 2004 and 2006, respectively.

The Super Bowl of Indexing awards are chosen following a rigorous selection process, which begins with hundreds of nominations each year. The finalists are sent to a voting committee comprised of the world's leading academics in the indexing research world, where they cast their ballots and the winners are chosen.

The Super Bowl of Indexing Conference is an annual meeting of the Index Business Association, attended by more than 600 industry professionals and academics that seek in-depth information and analysis on a broad spectrum of financial instruments and concepts.

Chicago Board Options Exchange (CBOE), the largest U.S. options exchange and creator of listed options, continues to set the bar for options trading through product innovation, trading technology and investor education. CBOE offers equity, index and ETF options, including proprietary products, such as S&P 500 options (SPX), the most active U.S. index option, and options on the CBOE Volatility Index (VIX), the world's barometer for market volatility. Other groundbreaking products engineered by CBOE include equity options, security index options, LEAPS, FLEX options, and benchmark products such as the CBOE BuyWrite Index (BXM). CBOE's Hybrid Trading System incorporates electronic and open-outcry trading, enabling customers to choose their trading method.CBOE's Hybrid is powered by CBOEdirect, a proprietary, state-of-the-art electronic platform that also supports the CBOE Futures Exchange (CFE), CBOE Stock Exchange (CBSX) and OneChicago. CBOE is home to the world-renowned Options Institute and www.cboe.com, named "Best of the Web" for options information and education.

CBOE is regulated by the Securities and Exchange Commission (SEC), with all trades cleared by the AAA-rated Options Clearing Corporation.