CHICAGO, Nov. 10, 2010 /PRNewswire/ -- Spot Trading LLC, a leading proprietary equity options trading firm, today announced the appointment of Stephen A. Brodsky, 39, as Chief Financial Officer (CFO). The former President and CFO of the holding company for the Chicago Stock Exchange (CHX) will assume the role Nov. 22.
Brodsky's responsibilities will include ensuring the privately held company's continued fiscal integrity and leading Spot's efforts in strategic financial planning, budgeting, financial analysis and financial reporting. He will also serve on Spot's senior management team and work with the firm's business partners, including exchanges, outside auditors, clearing firms, lenders and other financial institutions.
Said Rob Merrilees, founder and CEO: "We're delighted to have Steve join us in this critical role. He brings great value to our firm with his extensive business, strategic, finance and leadership experience. He was instrumental in the demutualization and successful capital-raising initiative at CHX, and his background in private equity and investment banking gives him a great perspective on the changing landscape in financial services. We're confident that Steve's insights and knowledge will help us solidify our leadership in proprietary equity options trading and enable us to leverage our strengths for future growth."
Brodsky said: "Spot Trading has positioned itself as a dynamic leader and important liquidity provider in the electronic options space. The forward-looking team has built a broad and sustainable infrastructure and implemented innovative strategies that distinguish Spot from other firms. I'm very excited about joining the team and contributing to the company's strategic expansion. I believe there are terrific growth opportunities for the firm, particularly in light of the current legislative and regulatory landscape."
Since 2008, Brodsky has served as a Managing Director at Vernon & Park Capital, a private equity firm focusing on investments in exchanges and financial markets. Previously, Brodsky was President of CHX Holdings, Inc., the parent company of the Chicago Stock Exchange, after serving as the Exchange's CFO. He joined CHX in 2003 as Senior Vice President, Strategic Planning.
Prior to joining the Exchange, Brodsky was a Vice President in the Investment Banking Department at Mesirow Financial, where he focused on mergers and acquisitions. He began his career as an Associate in the Corporate Finance Department at John Nuveen & Co., Inc.
Brodsky earned his Bachelor of Arts degree from Syracuse University and his Juris Doctor and MBA from Northwestern University.
Executive search firm Crist Kolder Associates assisted Spot Trading in the search for the CFO position.
About Spot Trading LLC
Spot Trading, LLC is a technology-driven proprietary trading firm based in Chicago. Founded in 1999, Spot has grown to be a leading liquidity provider and market-maker for the U.S. exchange-listed equity options markets. Spot deploys a highly integrated model, where traders, financial engineers, equity analysts and technologists work closely together to make assessments about pricing opportunities in the market. In conjunction with its trading activities, Spot has developed an institutionalized and scalable trading platform that promotes collaboration, manages firm-wide risk and uses proprietary technology to enable high performance and a trading edge. For more information, visit www.spottradingllc.com.
SOURCE Spot Trading LLC