BrokerTec Futures Exchange (BTEX), the US electronic financial futures exchange, announced today the appointment of Dennis Scurletis from Morgan Stanley as Chairman and Michael Dawley from Goldman Sachs & Co. as Vice Chairman.
Mr. Scurletis has been active in the securities and derivatives industry for seventeen years. He is currently Managing Director, Interest Rate Sales and Fixed Income Futures Brokerage at Morgan Stanley & Co. Incorporated. He has been with Morgan Stanley since 1995. Prior to that, Mr. Scurletis worked at Goldman Sachs & Co. as Vice President.
A twenty-five year veteran of the futures industry, Mr. Dawley’s current position is Vice President, Global Futures Services at Goldman Sachs & Co. He has been with Goldman since 1985. Prior to that, Mr. Dawley has worked for E.F. Hutton and traded independently.
Since the launch of BTEX last November, the exchange has seen its volume and liquidity increase steadily. BTEX registered its one-millionth contract traded in July and volumes have doubled since August. In addition, BTEX has experienced a significant increase in interest from institutional traders over the past few months.
“We’re extremely fortunate to have such talented, dedicated executives head BTEX’s Board,” said Hank Mlynarski, President, BrokerTec Futures Exchange. “The market has clearly shown a preference for electronic trading and both Dennis and Mike will help BTEX achieve our goal of providing users with the most efficient, low cost marketplace to trade financial futures.”
BrokerTec Futures Exchange (BTEX) is a designated contract market approved by the CFTC in June 2001, offering low-cost electronic trading of U.S. fixed income financial futures. BTEX is owned and supported by a variety of banks, securities firms, futures commission merchants (FCMs) and proprietary trading firms and individuals. The Exchange started trading in U.S. Treasury securities futures contracts on November 30, 2001.