Agora-X, which recently launched an electronic communications network (ECN) enabling institutions to negotiate over-the-counter (OTC) transactions in commodity and derivative contracts, today announced that Ben Craig has joined its Board of Managers.
Mr. Craig is Vice President of Strategy and U.S. Futures of NASDAQ OMX. Based in Philadelphia, Mr. Craig manages the NASDAQ OMX U.S. futures market, The Philadelphia Board of Trade (PBOT). He is also responsible for executing/managing strategic investments with NASDAQ OMX Transaction Services. NASDAQ OMX Group completed its acquisition of NASDAQ OMX PHLX, formerly The Philadelphia Stock Exchange (PHLX), on July 24, 2008.
Mr. Craig was formerly First Vice President, Corporate Development for the PHLX, where he was responsible for executing strategic investments/transactions, including the acquisition of the PHLX by NASDAQ OMX. In addition, he led a group that analyzed market structure issues and other developments in the securities industry. He also directed the state and local government relations and corporate affairs efforts for the PHLX.
Mr. Craig, who joined the Exchange eight years ago, holds a master's degree in public management from the Fels School of Government at the University of Pennsylvania. He also has a master's degree in American History from Tulane University. He earned his undergraduate degree at Birmingham-Southern College.
"We are very pleased that Ben Craig has joined the Board of Managers at Agora-X. Ben brings with him a wealth of knowledge and industry expertise,'' said Brent M. Weisenborn, Chief Executive Officer. ``We believe Agora-X will bring transparency to the U.S. OTC commodity markets along with a solution for the expected increased regulation of the U.S. OTC markets, and Ben's expertise in the marketplace will be invaluable to our company.''
In addition, Agora-X announced it has executed a clearing agreement with the Chicago Mercantile Exchange on January 6, to provide clearing for additional OTC products as approved.