Mr. Gaer was the founder of TradinGear, a trading software development company. He developed and architected the TradinGear Financial Instrument Network eXchange (TGFINX), which is the basis for the NYMEX ClearPortsm trading platform. In March 2003, the Exchange purchased certain assets of the firm that comprised the TGFIN/X.
Mr. Gaer has been involved with the commodities business since he was fifteen years old, starting as a clerk on the COMEX floor. He continued working on the trading floor each summer until he was graduated from the Wharton School of Business at the University of Pennsylvania in 1988. In his senior year, he developed an options pricing analysis programl, based on the Black-Scholes options pricing model, for use on the Apple MacIntosh, providing a user-friendly graphical interface.
Mr. Gaer became a member of the Commodities Exchange, Inc. (COMEX), in 1988. In 1991, he formed Uptick Trading, which merged into Millennium Copper Group, LLC in 1993. While running Millenium Copper Group, Mr. Gaer founded his first software development firm, AustinSoft Incorporated, which marketed a version of the retail options analysis software he developed while at Wharton School of Business. Mr. Gaer left the trading floor in 1998 to devote more time to trading software development and architecture, and subsequently founded TradinGear.
Ms. Server joins the Exchange after serving a number of years as a consultant in marketing and sales. Prior to that, she founded and headed Intercapital U.S.A., where she was responsible for opening the New York office for the U.K. securities firm, concentrating on commodity and interest rate derivatives.
From 1986 to 1992, she worked at Citibank N.A. as vice president and senior trader. She managed a high-risk proprietary derivative products trading portfolio for the bank, and worked closely with the bank's corporate and institutional clients. Prior to that, she was a broker at Noonan Astley Pierce/Fulton Prebon where she worked to establish a derivatives brokerage business in short-term swaps, interest rate caps and floors, and forward rate agreements, some of which were based on the pricing of futures contracts.
Ms. Server was graduated from Skidmore College with a bachelor of the arts degree. Early in her career, she worked on the COMEX floor for Drexel Burnham Lambert Trading Corp.
Ms. Ali and Ms. Steuerer will both report to Lewis Raibley, senior vice president of finance, who was recently named chief financial officer following a by-law change at the Exchange.
Ms. Ali spent most of her 19-year career in various positions in the controllers group for MorganStanley. Most recently she was controller for the investor advisory services division of MorganStanley, a position in which she was responsible for accounting and reporting for the domestic MorganStanley brokerage business.
Ms. Ali is a graduate of St. Bonaventure University, with a bachelor of business administration degree.
Prior to her joining the Exchange, Ms. Steuerer was vice president and director of financial commitments for Datek Online. In that capacity, she identified and managed integration activities related to the Datek Ameritrade Merger with respect to payroll, accounts payable, and purchasing procedures.
Prior to that, she held the position of assistant controller and then controller for Cingular Interactive where she managed internal and external audit relationships and produced annual audited financial statements for two subsidiaries, while managing a staff of 26.
Ms. Steuerer was graduated from the University of Scranton with a bachelor of science degree.
