David Ganis came to the futures industry in the early 1970s after a long career in mortgage banking. In 1971, he joined an investment bank where he worked on the formation and sale of Ginnie Mae mortgage-backed securities, in which position he encountered Richard Sandor and helped him develop Ginnie Mae futures. He spent 10 years at Paine Webber in a variety of positions, including president of Paine Webber Futures Management Corp. In 1984, he joined The Northern Trust Company as president of Northern Futures, a clearing member of the Chicago Board of Trade and Chicago Mercantile Exchange. He was a director of the FIA for nearly two decades and served as FIA chairman in 1988 and 1989. During his tenure on the FIA board, he was instrumental in working with Chicago mercantile Exchange and Reuters on serious liability and contractual issues raised by the launch of Globex. As a result of his work, many provisions were changed to the satisfaction of the industry.