William Brodsky, chief executive of CBOE Holdings, reflects on a remarkable year for the exchange.
2011 has been a remarkable year for William Brodsky and the
Chicago Board Options Exchange with the launch of a new
exchange, a market beating share price rise and numerous front
page interviews and behind the scenes discussions extolling the
benefits of the futures and options industry. However, 2011
will be remembered as the year that the exchange’s
Volatility Index, the VIX, came of age. Elise
Coroneos caught up with the man at the helm of the
US’s largest independent derivatives exchange for
his take on a busy year.
In his book The Fear Index – released this year -
Robert Harris tells the story of Dr Alex Hoffman, a legendary
physicist who develops an algorithm that can measure human
emotions: the name of his algorithm is, VIXAL-4, a nod, along
with the title of the book to CBOE’s Volatility
Index, the VIX.
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