OneChicago, LLC, has announced its Chairman and Chief Executive Officer William J. Rainer will depart for personal reasons at the end of November. Martin Doyle, who currently serves as Managing Director, Business Development, will serve as President.
Doyle is a 20-year veteran of the futures industry who came to OneChicago in 2001 after serving as Vice President and General Counsel of Lind-Waldock, a retail discount futures broker. Peter F. Borish, OneChicago’s Senior Managing Director of Business Development, was appointed to the position of non-executive Chairman. In addition, Robert Walsh, OneChicago’s Managing Director for Operations, was promoted to Chief Operating Officer. Walsh joined the Exchange in 2002 from the Chicago Board Options Exchange (CBOE). Doyle, Walsh and CBOE market maker Mark Esposito will continue to lead OneChicago’s ongoing initiative to introduce the benefits of security futures to equity options traders.
Doyle said, “Bill Rainer is to be commended for his pioneering role in the launch of single stock futures in the U.S. Our year-to-date volume is 30 percent higher than the same period last year, and we are confident this pattern of growth will continue. We are also pleased with the recent positive response to our product from equity options traders.”
“Now is a good time for me to hand over the reins,” Rainer said. “Because of the combined strengths of the ownership, the Board of Directors and a highly talented staff, OneChicago has earned its role as the Exchange for single stock futures in the United States. This is a strong management team with a sound business plan and, as an on-going investor and shareholder, I look forward to following the company’s progress.”
“On behalf of the CBOE, I want to thank Bill Rainer for his invaluable leadership role in launching single stock futures,” CBOE Chairman Bill Brodsky said. “Bill has put a solid team in place, and we are confident OneChicago will continue to work in close collaboration with their exchange partners in growing the business. We are particularly encouraged by recent efforts to market directly to options traders on the floor of the CBOE. By making a strong pitch right here, in our own ‘backyard,’ OneChicago is able to reach out to those potential users who are the most likely to help grow the product.”