Michael L. Dean, Cargill, Inc., yesterday was elected president of the Kansas City Board of Trade Clearing Corp., a wholly owned subsidiary of the Kansas City Board of Trade.
Rock D. Marquardt, J.P. Morgan Securities, LLC, was elected first vice president for 2012 with a two-year director term; Bruce A. Wilson, individual member, was elected second vice president; and David J. Lehl, ADM Investor Services, Inc., was elected secretary-treasurer.
Elected as directors for two-year terms were: Maureen R. Corbett, ABN AMRO Clearing Chicago, LLC; and James F. Kanan, individual member. Thomas A. Beringer, individual member, was elected to a one-year term.
The Clearing Corp. reconciles all futures and options trades at the Kansas City Board of Trade and guarantees the financial integrity of all trades.
The Kansas City Board of Trade, founded in 1856, is the world's largest futures market for hard red winter wheat.