Rosemary McFadden
Rosemary McFadden is the deputy mayor for economic development in Jersey City, New Jersey.[1] She was president of the New York Mercantile Exchange, the first woman to serve as president of a U.S.-based futures exchange.[2] In 2017, McFadden was inducted into the Futures Industry Association's Futures Hall of Fame, which was established in 2005 to commemorate outstanding contributions to the global futures and options community. [3] Background[edit]McFadden began at the NYMEX as a staff attorney, and four years later was promoted to president and chief operating officer. During her tenure as NYMEX president, the successful crude oil options contract was introduced. Additionally, the number of contracts traded on the exchange jumped from 5 million in 1984 to 34 million in 1988. In addition, NYMEX also added contracts heating oil and gasoline options, as well as a propane futures contract.[4] In 1987, McFadden was involved in talks with the Reuters PLC about plans to trade futures electronically.[5] In 1989, McFadden was NYMEX president when U.S. Federal Agents launched a criminal and civil investigation into trading at the then four New York-based futures exchanges.[6] McFadden left NYMEX in July of 1989, reportedly pushed out of the exchange over policy disputes.[7] A day after McFadden resigned, COMEX Chairman John Hanemann stepped down among a flurry of executive moves in the New York futures exchange community.[8] Subsequent to leaving NYMEX, McFadden was a senior manager at the international practice group of Price Waterhouse, senior vice president and associate general counsel at the Pershing Division of Donaldson, Lufkin & Jenrette, a director of global business development for DLJdirect and managing director at Credit Suisse First Boston.[9] Education[edit]McFadden holds a Bachelor of Arts and a Masters of Business Administration from Rutgers University.[10] References[edit]
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