CHICAGO--(BUSINESS WIRE)--The Options Industry Council (OIC), an industry resource funded by OCC, the world’s largest equity derivatives clearing organization, today announced that Gary Katz, former President and Chief Executive Officer of the International Securities Exchange (ISE), will receive the 2018 Joseph W. Sullivan Options Industry Achievement Award.
This award is given to individuals in recognition of outstanding contributions to the U.S. options industry. The award will be presented at the 36th Annual Options Industry Conference on May 2 in Amelia Island, Florida.
Katz was one of the principal developers of the unique options market structure - an auction market on an electronic platform – used by all of ISE’s exchanges. He was named as inventor or co-inventor on six patents that the company received or applied for relating to its proprietary trading system and technology.
Before co-founding ISE, Katz served from 1997 to 1998 as President and co-founder of K-Squared Research, LLC, a financial services consulting firm. From 1986 until 1997, he held several positions in the Options and Index Products Division at the New York Stock Exchange (NYSE). During his tenure at NYSE, Katz also was a co-founder of OIC, the leading industry resource for free and unbiased exchange-listed options education used by investors.
“Gary is a true innovator in the options industry. He spearheaded the introduction of the first electronic options exchange which was considered revolutionary at the time and has been credited for enhancing market efficiency. He also understood the importance of options education in order to promote responsible use of these valuable risk management tools. Gary’s significant contributions have helped the industry to evolve, and they will continue to impact it moving forward,” said Mary Savoie, OCC First Vice President of Industry Services and Executive Director of OIC.
"I am honored to be receiving the Sullivan Award and humbled to be joining a list of outstanding individuals who have been recognized for their individual and collective contribution to the listed options industry. I was privileged to work with so many talented people at the NYSE, ISE, DBAG, Eurex and Nasdaq during my career and this recognition is a reflection of all they have contributed to helping the options industry innovate and grow,” said Katz.
Celebrating its 25th anniversary, OIC is an industry resource funded by OCC, the world’s largest equity derivatives clearing organization. Its mission is to provide free and unbiased education to retail investors, financial advisors and institutions about the benefits and risks of exchange-listed options. Managed by OCC, OIC offers education which includes webinars, podcasts, videos, seminars, self-directed online courses, mobile tools, and live help. OIC's Roundtable is the independent governing body of the Council and is comprised of representatives from the exchanges, member brokerage firms and OCC. For more information on the educational services OIC provides for investors, visit www.OptionsEducation.org.