Catherine Clay, one of the top executives at Cboe Global Markets, has been named chief executive officer of S&P Dow Jones Indices, effective 1 November. She succeeds Dan Draper, who will remain as a special advisor for a period after 1 November. Clay will report directly to Martina Cheung, president and chief executive officer of S&P Global, and will join the company's executive leadership team in New York. At Cboe, Clay was executive vice president and global head of derivatives. She led Cboe's global options and futures businesses as well as its Data Vantage business, overseeing operations across the US, Europe, Asia-Pacific, and the Middle East.
In related news, Cboe has appointed Rob Hocking as executive vice president and global head of derivatives, replacing Catherine Clay. Based in Chicago, Hocking reports to Craig Donohue, chief executive of Cboe Global Markets. Hocking rejoins Cboe, having previously served as senior vice president, global head of product innovation. Before joining Cboe in 2018, he was global head of equity volatility trading at DRW Trading. He also held roles at Goldman Sachs as a vice president of index trading and at Hull Trading in index derivatives market-making.
Cboe has also appointed Brian McElligott as senior vice president, global head of Cboe Data Vantage. McElligott previously served as global head of data product strategy and partnerships at Morningstar and as managing director, head of data product strategy at Tradeweb. Before that, he spent 14 years at CME Group, where he was managing director, global head of information products, analytics and market data. McElligott is based in Chicago and reports to Prashant Bhatia, executive vice president, head of enterprise strategy and corporate development.
David Chiam has joined SGX Group as a director, global sales and origination, with responsibility for member relations and client services. Most recently, he was a senior sales executive at Trading Technologies, covering the APAC region with a focus on Singapore, Malaysia and Vietnam. Previously, he worked at Maybank, Gulf Mercantile Exchange (previously Dubai Mercantile Exchange), Trafigura, and at proprietary trading firms. Based in Singapore, he reports to Lily Chia, SGX’s executive director, head of regional member and client coverage.
Jon Kroeper has been appointed deputy director of the US Securities and Exchange Commission’s Division of Trading and Markets, working under Jamie Selway, the division’s director. Kroeper spent 17 years at the Financial Industry Regulatory Authority, the self-regulatory body for the US securities industry, as executive vice president of market regulation, where he led a team overseeing surveillance and investigations in US equity, ETP and fixed income markets. Kroeper previously held senior roles at the SEC, including serving as a counselor to both a commissioner and the chairman, with a focus on market structure, exchanges and broker-dealers. Most recently he served as a senior consultant at Patomak Global Partners, advising clients across the financial services sector.
Austin Winter has joined Citi as a vice president, futures and derivatives clearing, based in New York. Winter brings more than 12 years of industry experience to his new role. He joins Citi after spending over 11 years at BTIG across various roles, most recently as vice president, outsourced trading. Citi has also hired Jason Woods as head of futures execution for Europe, the Middle East and Africa. Woods has more than 30 years of industry experience and joins Citi from Morgan Stanley, where he was most recently a managing director. Prior to this, he was a senior equity derivatives trader at UBS.
In August, Citi named London-based Jamie Miller and Abdul Satti as co-heads of EMEA electronic execution to oversee sales, sales trading, execution advisory services and algo trading functions and lead the firm’s client-centric and product-focused strategy in electronic execution. Miller has been with Citi for nearly 10 years, having previously served as head of EMEA electronic equity sales trading, following an earlier role as an equity sales trader. Satti most recently led the bank’s execution advisory services (EAS) offering.
Citigroup Inc. has hired Adam Inzirillo, formerly head of data at Cboe Global Markets Inc., to lead work on the bank’s equities and futures execution platform within its trading division. Inzirillo joins Citi as global head of execution platform for the equities business and reports to Sebastien Mailleux, global head of prime services and execution platform.
The Johannesburg Stock Exchange has announced that Leila Fourie will step down as group CEO on 31 March 2026, after serving since 2019. During her tenure, Fourie led a turnaround in earnings quality, diversified revenue streams, and modernised the JSE’s technology and regulatory frameworks. She also advanced several market reforms, including the introduction of new segments and platforms aimed at expanding capital formation.
Valdene Reddy, currently director of capital markets at the JSE, has been appointed to succeed her as group CEO effective 1 April 2026. She joined the JSE in 2015 as head of equity & equity derivatives. In 2020, she was appointed director of capital markets at the JSE. Before her roles at the JSE, Reddy worked in equity sales and trading at Bank of America Merrill Lynch, including on the derivatives desk.
Helle Østergaard Kristiansen, the chief executive officer of Danske Commodities, a power and gas trading company active on more than 40 markets, has taken on new responsibility as senior vice president of gas and power at Equinor, the Norway-based multinational energy company and the parent company of Danske Commodities. She will also continue as chair of the Danske Commodities board. Jakob Sørensen has taken over as the new CEO of Danske Commodities. Sørensen joined the company as a power trader more than 20 years ago, holding various positions, including deputy vice president of trading and chief risk officer, before being appointed to chief financial officer.
The Depository Trust & Clearing Co. has appointed Thomas Sullivan as managing director of digital assets. He reports to Nadine Chakar, global head of digital assets. Sullivan joined DTCC from the New York office of Société Générale, where he had been head of US market access and business development for digital assets since 2022. Before that he spent almost 10 years in operational roles, and spearheaded automation and blockchain initiatives in that area.
Gulf Mercantile Exchange, the commodity exchange in Dubai that is partially owned by CME group and The Saudi Tadawul Group, has appointed James Martin as chief growth officer and Kevin O’Reilly as head of commodities. Martin, based between Dubai and London, most recently served as chief development and investment Officer at the Astana International Financial Centre. He previously held senior leadership roles at Nasdaq/OMX across the Middle East, Europe, and Africa. O’Reilly brings experience in energy, carbon, and broader commodity markets, having held senior roles at Morgan Stanley and Goldman Sachs. At both institutions, he led commodity trading teams, structured complex financing solutions, and developed investor-led strategies.
Clear Street, the non-bank prime broker that is building out its clearing business, has appointed Mark Daniels as managing director, head of platform sales, based in New York. Daniels most recently led prime clearing at commodities broker Marex. Before that, he was a managing director at Bank of America Merrill Lynch and global head of sales in UBS’s execution and clearing unit, covering exchange-traded derivatives execution and clearing, OTC clearing and FX prime brokerage. Earlier in his career, he worked at Morgan Stanley and Goldman Sachs.
Laine Litman has started a new position as chief operating officer of Avalanche Treasury Co., an institutional digital asset treasury company launched this year focused on AVAX, the native token of the Avalanche blockchain. Litman was previously a partner, chief administrative officer and president of Hidden Road, an institutional prime brokerage that was acquired by Ripple earlier this year. She joined Hidden Road in 2022 from Virtu Financial, where she served as head of fixed income and FX, and later as co-head of crypto. She previously held executive and trading roles at KCG Holdings, Bank of America, Goldman Sachs and UBS Investment Bank. Earlier this month, Avalanche Treasury Co. announced it would merge with special purpose acquisition company Mountain Lake Acquisition Corp. in a deal valued at over $675 million.
Neil Thomas has been appointed head of business development at GFO‑X, a London-based digital asset derivatives trading venue. Most recently, Thomas was chief commercial officer and a founding executive at AsiaNext, an MAS-regulated crypto and digital securities exchange, where he led the launch of one of Asia’s first institutional-grade platforms for crypto derivatives and digital securities. Before that, he served as head of Asia Pacific at SIX Group, the Swiss Stock Exchange.
Brian Young has joined Jones Day as a partner in its financial markets practice, based in Washington, D.C. He joins from the Commodity Futures Trading Commission, where he served as director of the Division of Enforcement, working on matters related to digital assets, agricultural products, precious metals, foreign exchange, and financial benchmarks. He was also director of the CFTC’s Whistleblower Office. Before joining the CFTC at the beginning of 2024, Young spent nearly 20 years at the US Department of Justice, serving as acting director of litigation for the Antitrust Division and chief of the Fraud Section’s Litigation Unit.
David Chiam has joined SGX Group as a director, global sales and origination, with responsibility for member relations and client services. Most recently, he was a senior sales executive at Trading Technologies, covering the APAC region with a focus on Singapore, Malaysia and Vietnam. Previously, he worked at Maybank, Gulf Mercantile Exchange (previously Dubai Mercantile Exchange), Trafigura, and at proprietary trading firms. Based in Singapore, he reports to Lily Chia, SGX’s executive director, head of regional member and client coverage.
David Olsson has been appointed as chief commercial officer of digital asset technology firm EDX Markets. He most recently served as global head of institutional sales at Kraken. Prior to this, Olsson held senior roles at BlockFi, Credit Suisse and Bank of America, where he managed global financing and derivatives distribution initiatives.
Tony Tutrone has been appointed as director, repo product manager at Broadbridge Financial Solutions. Based in New York, he reports to Tina Joshi, head of securities finance and collateral management solutions for North America. Tutrone joins the company after nearly two decades at Citi, where he was most recently head of agency securities lending.
