Mr. Katz, previously senior vice president of marketing & business development, is one of four co-founders of the ISE and was instrumental in the design and creation of the first fully electronic options exchange in the U.S. He is also co-inventor on several patents filed by the ISE.
Bill Porter, Chairman of ISE, said, “Gary has been a primary contributor to the launch of this groundbreaking market and has guided staff in the introduction and successful operation of our unique structure. I am confident that the executive management team of Gary, as COO, and David Krell, as CEO & president, will ensure that ISE continues to lead the change in the options industry.”
As Chief Operating Officer, Mr. Katz will lead ISE’s state-of-the-art technology program (including technical services, member services and IT operations) and the market operations team. Additionally, he will continue to be responsible for ISE’s marketing and business development efforts.
“Gary has a strong management record and is recognized as an expert in the equity options market,” said David Krell. “His appointment as COO significantly enhances our ability to compete in this rapidly evolving market.”
Prior to co-founding the ISE, Mr. Katz was president of K-Squared Research, a financial services consulting firm. From 1986 to 1997, Mr. Katz was managing director of the options and index products division of the New York Stock Exchange, where he managed the research and development of new options products and spearheaded its marketing program. During this period, he co-founded The Options Industry Council, a trade group dedicated to promoting the equity options sector through the education of the investing public. Mr. Katz currently represents the ISE on the board of directors of The Options Clearing Corporation.
Prior to 1986, Mr. Katz was an actuary with the Equitable Life Assurance Company and is an Associate of the Society of Actuaries. Mr. Katz has an MS in Statistics with Distinction from New York University and a BA from Queens College. He lives with his wife and four children on Long Island.
“I am excited to assume this new role and believe that the ISE possesses the structure, team and technology to continue making great strides in the financial services sector,” said Gary Katz. “We look forward to expanding our position as a major factor and catalyst in the options business.”
On May 26, 2000 the ISE listed three issues as a first step in its rollout to trade the top 600 equity options on the world’s only exchange to combine electronic trading with auction market principles. The ISE has listed 218 issues and is continuing to increase the roster in its rollout toward the full contingent of 600 listings. The updated list of issues traded is available on ISE’s web site (www.iseoptions.com) within the section entitled “Product Information.”
