John F. Wallace, president of Wallace Securities Corporation since 1977, was elected to the position of On-Floor Option Floor Broker Governor. He currently serves as On-Floor Vice Chairman of the Philadelphia Stock Exchange. He also serves as an options, equity and foreign currency floor broker. He has been a member of the Exchange since 1972 and a member of the board since 1984 where he served in numerous positions and on numerous committees. From October 1996 through August 1997, Mr. Wallace served as chairman of the board. He also holds the position of director of the Philadelphia Board of Trade.
Lisa K. Polsky was elected to serve as an Off-Floor Governor. She had been appointed to fill a vacancy in that position from December 2000 to March 28, 2001. Polsky is currently managing director of client financing services with Merrill Lynch's Securities Services Divisions. Prior to this, she served for five years as a chief risk officer at Morgan Stanley Dean Witter. Polsky also ran the hedge fund and derivatives business at Bankers Trust. In 1999, Derivatives Strategy Magazine named her to its Hall of Fame. A resident of New York City, Polsky earned a bachelorof science degree in international business and economics from New York University. She is currently chairperson of the Security Industry Association Risk Committee.
Lawrence Gage, of Market Street Securities, Inc., was newly elected to fill the position of On-Floor Options Trader Governor. Mr. Gage has served for the past three years as an Options Floor Official. He currently is a member of the PHLX's options committee and is chairman of the rules sub-committee of the options committee. He has been associated with the PHLX since 1989. Previous to joining the Exchange, Mr. Gage was a broker with Butcher & Singer.
The Philadelphia Stock Exchange, which was founded in 1790 shortly after America declared its independence from England, is redefining the options market in the 21st century. The Exchange's market share has almost doubled year-over-year in the PHLX's 935 listed equity options and 11 sector indexes, which are supported by advanced trading technology. The PHLX, whose members include the largest, best capitalized specialist firms in the global equity derivatives market, is the fastest growing U.S. options exchange.
