Crutchfield Sole Chief of NYSE's U.S. Options Business
September 5, 2012
Steve Crutchfield has been named the sole head of NYSE Euronext’s two U.S. options exchanges, NYSE Amex Options and NYSE Arca Options.
The role had been previously handled by three executives, according to Traders Magazine, which first reported on the change.
Taking on other roles are:
- Paul Finnegan, formerly co-CEO of NYSE Arca Options. He has left NYSE Euronext, to become chief executive of LiveVol, operator of an options software vendor and brokerage based in San Francisco. Finnegan replaces LiveVol founder and CEO Ron Horwath, who is stepping aside, according to the Traders Magazine report..
- Amy Farnstrom, also formerly co-CEO at NYSE Arca Options, stays at NYSE Eu,ronext in a combination of roles. She will continue to be responsible for technology initiatives and the San Francisco trading floor. She will also take on the role of head of product strategy, U.S. options. She will report to Crutchfield.
In addition, senior vice president James Hyde will continue business development work with oversight of the New York options trading floor. He will also handle client development work for NYSE Arca Options.
In the single-stock listed options business, the two NYSE exchanges held a 25 percent market share at the end of August, second to the share of Nasdaq OMX Group’s three exchanges.
Crutchfield has led NYSE's Amex options exchange since April 2010. He will assume leadership of the electronic Arca options platform now. Crutchfield will report to Joe Mecane, executive vice president of U.S. equity markets for NYSE Euronext.
The changes are part of a continuing ripple of changes in top ranks of NYSE Euronext, after it failed in its attempt last year to merger with Deutsche Boerse Group.
In May, Stanley Young resigned as chief executive of NYSE Technologies, to take on an enterprise products role with Bloomberg. He has not yet been replaced.
At the end of June, Garry Jones left as global head of derivatives.
Taking over at the top of NYSE Liffe was Mark Ibbotson as chief executive for trading, clear and regulation and and Finbarr Hutcheson as chief executive for commercial and business development.