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The Chicago Board Options Exchange (CBOE) today announced that Benjamin Londergan, Chief Executive Officer of Group One Trading, L.P. (Group One), and Jonathan Werts, Managing Director of Merrill Lynch, Pierce, Fenner & Smith, were appointed to its board of directors. Mr. Londergan will serve as a CBOE Floor Director; and Mr. Werts will serve as an Off-Floor (industry) Director.
"We are delighted to add both of these outstanding individuals to our Board. As CEO of Group One, Ben Londergan has guided the firm's success in a highly competitive options market. As a market maker, Ben is a recognized expert on trading volatility who has worked closely with the Exchange to fortify CBOE's 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," said CBOE Chairman and CEO William J. Brodsky.
Benjamin 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 firm's 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. Mr. 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, Mr. 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. Mr. Werts is a graduate of California State University, Hayward.
CBOE, the largest U.S. options marketplace and creator of listed options, is regulated by the Securities and Exchange Commission (SEC). For additional information about the CBOE and its products, access the CBOE website at www.cboe.com.
