Draddy comes to the PCX from the SEC, where he held several senior positions over the past eight years. He ran regulatory inspections of self-regulatory organizations, broker-dealers, and ECNs, and provided the Commission legal and policy advice on a variety of market structure and regulatory issues. His most recent position at the SEC was Senior Counsel, Office of Legal Policy (Market Regulation), in the Office of the General Counsel.
Prior to joining the SEC, Draddy was a bond trader, a senior compliance analyst for Smith Barney, and a legal assistant in the Civil Division of the Department of Justice for the Southern District of New York.
"We are very pleased that Jim is joining our management team," said Philip D. DeFeo, PCX Chairman and CEO. "He brings a breadth and depth of experience to our regulatory staff that will serve us well. As volumes on the Archipelago Exchange grow, the Pacific will add talented individuals to our staff to ensure that our regulatory efforts meet the highest possible standards of effectiveness. Jim is well-qualified to lead those efforts."
