The International Securities Exchange Holdings (ISE) has appointed veterans Eric Levine and Tyler Sorba to the respective boards of directors of its two exchanges, according to an ISE statement.
ISE Holdings is a wholly owned subsidiary of German derivatives exchange, Eurex – the group operates two US options exchanges, International Securities Exchange, LLC (ISE) and ISE Gemini, LLC (ISE Gemini).
The composition of ISE's board of directors consists of exchange and non-industry directors, as well as its CEO director. Mr. Levine joins ISE’s board after serving as a director and head trader of Barclays' automated Volatility trading group – he has been appointed to represent ISE's Competitive Market Makers (CMMs). Prior to joining Barclays in 2008, Mr. Levine was a mainstay at Lehman Brothers in 2004 until its acquisition by Barclays.
Alternatively, Mr. Sorba serves as the co-head of Automated Equity Options Market Making (AMM) at Morgan Stanley, having been elected to represent ISE's Primary Market Makers (PMMs). Between 2007 to 2011, Mr. Sorba also manned Morgan Stanley's Equity Exotics desk.
In addition to the two new appointments, ISE reported that eight non-industry directors, two exchange directors, and the CEO director were re-elected, ensuring a smooth transition of incoming board directors.
According to Gary Katz, President and CEO, ISE, in a recent statement on the appointments, "On behalf of the entire Board, we are very pleased to welcome Eric and Tyler as exchange directors. Their skillsets and deep knowledge of the options markets will be valuable assets for us as we seek to maintain and grow our leadership position in a competitive market environment."
