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Author Archives: Sarah Rudolph

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Rudolph is managing editor of John Lothian News (JLN).

Interview: Brandy Patterson Standard

Brandy Patterson is managing director for NYSE Arca and NYSE Amex, the two options exchange arms of NYSE Euronext. She is in charge of electronic trading and client support for those exchanges. She spoke with Sarah Rudolph about the transition from floor to electronic trading, the challenges of running two electronic exchanges, and what’s ahead for Arca and Amex. Q: You started out on the floor of the Pacific Stock Exchange (now Arca) in 1998. What was your personal experience in making the transition from floor trading to electronic trading of options? A: I didn’t set out to get into…

Interview: Bud Haslett of CFA Institute Standard

Bud Haslett is head of Risk Management, Derivatives and Alternative Investments at CFA Institute, a global, not-for-profit association of investment professionals that awards the CFA and CIPM designations. Haslett joined CFA Institute in April of 2009. He was previously CEO of Miller Tabak Capital Management, where he provided option-based money management services. He spoke with Sarah Rudolph about options education, strategies, and expansion in Asia. Q: In your role at CFA Institute, how are you involved with options as a method of risk management?A: I spent 20 years as an options market maker, so I had a strong foundation in…

Interview: Jeanine Hightower of ISE Standard

Jeanine Hightower is head of options business development at the International Securities Exchange. She spoke with Sarah Rudolph about forthcoming technology changes and products at ISE. Q: How long have you had your present title? A: Since the beginning of this year. Before that I held two other roles at ISE. I started six years ago as a relationship manager covering our market makers and EAMs [electronic access members, which are ISE’s non-market maker participants]. In the summer of 2006 I was promoted to director of business development, responsible for member relationships and business development, with a team reporting to…

Five Minutes with Dr. James A. Overdahl Standard

Dr. James A. Overdahl is a vice president in the Securities and Finance Practice at NERA Economic Consulting. Before joining NERA, he was chief economist and director of the Office of Economic Analysis for the US Securities and Exchange Commission (SEC). He was their principal economic advisor on policy, rulemaking, and litigation support. From 2002 to 2007, he was chief economist and director of the Office of the Chief Economist for the US Commodity Futures Trading Commission (CFTC). Some of the policy issues he has advised the SEC on are: credit default swaps and other OTC derivatives, high-frequency trading, securities…

Five Minutes with Jeromee Johnson Standard

Jeromee Johnson

Jeromee Johnson is vice president of market development at BATS Exchange and a leader in developing the BATS Options Exchange. He talked with Sarah Rudolph about BATS Options, the newest of the eight U.S. options exchanges currently operating. Q: Can you give us an update on what’s going on at BATS? A: We just completed the last of our rollout in mid-May following the last wave of options symbology consolidation. We added the last of our formally planned listings, bringing us to offering listed options on close to 2200 underlyings. Following that, in the beginning of June we lifted our…

Five Minutes with Gina McFadden Standard

Gina McFadden

Gina McFadden is president of the Options Industry Council and executive vice president, industry services at The Options Clearing Corporation (OCC). She also sits on the steering committee of Women in Listed Derivatives (WILD), founded by Leslie Sutphen and Jessica Titlebaum. She sat down with Sarah Rudolph at the OIC’s offices in Chicago shortly before the IDX FIA/FOA International Derivatives Expo. Q: You are going to attend the IDX conference in London on June 8 and 9. What will you be doing at the conference? A: We’ll be attending the program, including the clearing panel, where Mike Walinskas [OIC senior…

Five Minutes with Rex Jones Standard

Rex Jones is the product manager in German interest rate options at Eurex. JLN Options Newsletter editor Sarah Rudolph spoke with him about the recent launch of options on the VSTOXX index and what’s next for the exchange’s volatility and variance products. (“The VSTOXX Index is based on EURO STOXX 50 realtime options prices and is designed to reflect the market expectations of near-term volatility by measuring the square root of the implied variance across all options of a given time to expiration.” – STOXX web site) Q: When did Eurex launch options on the VSTOXX index? A: We launched…

Five Minutes With Gary Katz Standard

Gary Katz is president and CEO of the International Securities Exchange (ISE), this year’s host of the Options Industry Conference in Phoenix, Arizona. The interview was conducted two days before the conference by Sarah Rudolph. Q: As the 28th annual Options Industry Conference gets underway in Phoenix, there are a number of important issues facing the industry, including some potentially big regulatory changes. ISE is hosting the conference this year. What do you expect will be the hot topics at the conference? A: We’re very excited about the conference; I think we’re close to the record for attendees…more than 500…

Five Minutes with Larry Arnowitz Standard

Larry Arnowitz is the CEO of Arnowitz Financial Services, an introducing broker. He has been in that role since May 2008. Before starting Arnowitz Financial Services, Arnowitz was the CEO of GNI Inc. from July 1988 – May 2003. He spoke with Sarah Rudolph about what it was like to be in the forefront of electronic trading, the pleasures of building and running one’s own business, and the next chapter in life. Q: How did you get your start in the business? A: I started out as a runner for Refco in 1981 on the floor of the Merc (Chicago…