Spot Trading, an equity options trading firm, has appointed Stephen A. Brodsky as chief financial officer.
The former president and chief financial officer of the holding company for the Chicago Stock Exchange will assume the role on 22 November.
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.
Rob Merrilees, founder and chief executive, says: "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 says: "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, the parent company of the Chicago Stock Exchange, after serving as the exchange’s chief financial officer. He joined CHX in 2003 as senior vice president, strategic planning.