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CBOE Founder Passes Away

Edmund O’Connor, one of the founders of the Chicago Board Options Exchange has passed away.

Edmund O’Connor, one of the founders of the Chicago Board Options Exchange (CBOE) has passed away, Financial Times reports. He was vice chairman of the Chicago Board of Trade when he came up with the idea for the first U.S. exchange for trading standardized options contracts on stocks.

O’Connor was also a veteran futures trader and with his brother, William O’Connor, formed derivatives trading businesses, adds The Wall Street Journal. They set up multi-asset-class trade-clearing firm, O’Connor & Company, which was sold in 2006 to financial services firm, Fortis. They also founded an options-focused proprietary trading firm, O’Connor & Associates, later sold to UBS predecessor Swiss Bank.

Click here for the story from Financial Times.

Click here for additional coverage from The Wall Street Journal.

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