Tom Ascher, chief executive officer of NQLX, said, "Each is a superb complement to our management team. The addition of George, Pat and Jim dramatically increases our ability to respond to member needs, develop new opportunities and bring new members into our markets."
George Yepes, senior vice president, sales : Yepes was formerly vice president and director of institutional sales, Blackwood, Inc. Yepes is responsible for the Exchange's sales and marketing efforts and the development of institutional clients. As vice president sales manager of the Instinet Corporation, Yepes developed and implemented Instinet's Crossing Network's Strategic Sales plan for over-the- counter and listed securities. Prior to Instinet, Yepes served as director of sales for Bridge Information Systems where he created and executed medium to long-term global strategies for Bridge's European major accounts.
Patrick Fay, senior vice president, business development: Fay manages business opportunities and new product possibilities. Fay joins NQLX from the Chicago Board Options Exchange (CBOE) where he most recently served as vice president, business development. During his eighteen-year tenure at the CBOE, Fay oversaw sweeping changes of the CBOE website and restructured and managed the Options Institute, among other accomplishments.
Jim Stearns, vice president, member relations: Stearns works directly with members and potential users of the market. Prior to his appointment at NQLX, Stearns was with Susquehanna International Group, LLP as their derivatives coordinator. In that capacity, Stearns managed Susquehanna's order flow to and from all of the U.S. options exchanges. Immediately preceding Susquehanna, Stearns was with the CBOE for eleven years where he left as vice president.
Ascher added, "George has established a solid industry reputation as an innovator and relationship builder. Both Pat and Jim bring extensive relationships from the equity derivatives community and have the experience necessary to help cultivate healthy and liquid markets. These three share the vision and desire for NQLX to be the preeminent market for security futures."
Yepes and Stearns operate from the NQLX office in New York City while Fay will be in the Chicago office.
NQLX is a fully electronic, federally regulated exchange formed as a joint venture between The Nasdaq Stock Market Inc.® and LIFFE (London International Financial Futures and Options Exchange). It will initially list single stock futures on the largest U.S. companies through LIFFE's electronic trading platform, LIFFE CONNECTTM.