Mark G. Bagan
In 1987, Bagan joined MGEX as a trading floor clerk and held various positions with MGEX in the operations, compliance, membership and regulation departments. Prior to his appointment as president and chief executive officer, Bagan was vice president of market administration and corporate secretary of MGEX.
He was instrumental in the exchange’s orginal implementation of electronic trading. He was also responsible for project plans that focused primarily on operations and regulatory approvals and led the audits and investigations department through numerous Commodity Futures Trading Commission (CFTC) rule enforcement reviews.
Since Bagan became president and CEO of MGEX, there have been a number of advancements in the Hard Red Spring Wheat HRSW contract including the highest volume in MGEX history broken in 2007. The HRSW contract also hit its highest price ever by a wheat contract when it reached $24 in February 2007. There has also been growth in MGEX's five financially settled agricultural index products.
Also during Bagan's tenure, membership has hit all-time highs and numerous electronic records have been set. A seat was sold at $285,000 on December of 2008. Bagan has also overseen a transition to full electronic futures trading. The first move was side-by-side trading of futures first, then options. The exchange moved to CME Globex from e-CBOT in January 2008 and moved to futures electronic trading on Dec. 22, 2008.
Bagan represented MGEX in a variety of industry organizations including the Joint Audit Committee, Joint Compliance Committee, Inter-Financial Surveillance Group, Futures Industry Association, the board of National Futures Association, the Commodity Markets Council and task forces of the CFTC.
Bagan earned Bachelor of Arts degrees in Finance and Management from Minnesota State University, Mankato.
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