Benjamin Londergan, CEO of Group One Trading, L.P. and Jonathan Werts, managing director of Merrill Lynch, Pierce, Fenner & Smith, have been appointed to the Chicago Board Options Exchange’s (CBOE) board of directors.
Londergan will serve as a CBOE floor director; and Werts will serve as an off-floor director.
“We are delighted to add both of these outstanding individuals to our board. As CEO of Group One, Ben Londergan has guided the firms success in a highly competitive options market. As a market maker, Ben is a recognised expert on trading volatility who has worked closely with the Exchange to fortify CBOEs reputation throughout the world as the premier marketplace for trading volatility. Jonathan Werts is a highly regarded veteran of the options business who has helped shape the industry throughout his career. His firsthand knowledge of the many different facets of our business and his experienced perspective will further enhance our strong team of directors,” says William J. Brodsky, chairman and CEO, CBOE.
Londergan was named CEO of Group One Trading, L.P. in 2004. He began his career at Group One in 1998, providing trade support for Group One market makers at CBOE. In 1999, he was promoted to market maker and successfully traded for Group One at the Pacific Exchange and then at CBOE. He was named managing director of G1 Derivatives Trading, the firms first European trading operation in 2001. In 2002, he was named managing director of Group One Trading L.P. in Chicago and re-joined CBOE as a member. Londergan is a Summa Cum Laude graduate of Indiana University.
As Managing Director of Merrill Lynch, Pierce, Fenner & Smith, Jonathan Werts is responsible for the Broker Dealer Execution Services and Electronic Derivative Execution Divisions. He joined the firm in August 2007. Previously, Werts served as vice president, Derivative Products, for the NYSE Group in Chicago. From 2001 to 2005 he was vice president, Client and Trading Support at the Pacific Exchange. Prior to working for the Exchange, he was vice president for Pershing Trading. He was an equity specialist and managed the west coast equity market making division. Werts is a graduate of California State University, Hayward.