Anthony ("Tony") McCormick is a trader, exchange member, floor trader, brokerage executive, exchange director and executive who serves as the CEO of Boston Regulation, the regulatory arm of the Boston Options Exchange.
He is part of the McCormick family of Chicago, another branch for which McCormick Place was named "in honor of Colonel Robert R. McCormick, a controversial and charismatic visionary who served as editor and publisher of the Chicago Tribune."
He previously served as the chief executive officer of the Boston Options Exchange. He was named to the position in early October 2009 and replaced by Ed Boyle in 2015. On March 16, 2015, he stepped down as CEO of BOX Markets LLC, the business side of BOX. He remained as a consultant to BOX Markets LLC while still holding the CEO position at the exchange.
McCormick formerly was vice president of equity options at Charles Schwab & Co., Inc. where he chaired Schwab's order routing committee for equities and options and also managed several of the company’s key business relationships. He also headed the trade execution quality team.
McCormick joined Schwab in April of 1998 as vice president of derivative markets. Before joining Schwab, he spent 12 years with Harris Futures Corporation and served as its CEO from 1993-97. During the same period, McCormick also served as managing director of capital markets for the Bank of Montreal and served on its Treasury board.
McCormick has served on numerous exchange committees including the Chicago Mercantile Exchange board from 1994-97, the Chicago Stock Exchange board from 1999-2001 and the Chicago Board Options Exchange from 2001-2003. He also provided vital advice to the Chicago Board Options Exchange on strategic planning and single-stock futures.
He serves or has served on the following committees: Securities Industry Association Options (chairman for 2004), Chicago Board Options Exchange Managing Directors, the American Stock Exchange and the Pacific Exchange Retail Advisory, the International Securities Exchange DAC, and the Comptroller of the Currency Roundtable. Additionally, he also serves on the OCC symbology initiiative committee.
McCormick graduated from the University of Virginia in 1975 and received an MBA from Kellogg Graduate School of Management at Northwestern University in 1991.
John Lothian News Interview
Anthony (Tony) McCormick spoke with JLN Options editor Sarah Rudolph about the role of the PIP (Price Improvement Period) in the recent volume growth at BOX, as well as the exchange's business model and plans for the future. In July, price-improved contracts averaged 320,461 per day, a 60% increase over the same period last year, with a total savings to investors of $3.9 million in July. Overall average daily volume on BOX in July was 587,386, a 50% increase over the same period last year. BOX introduced the Price Improvement Period automated trading mechanism (PIP) in 2004. Published August 11, 2011.
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