Nymex's Sam Gaer elected co-chair of FPL global derivatives committee
10 December 2004 | 1162 views | 0
Source: FIX Protocol Limited
FIX Protocol Limited (FPL) has announced that Sam Gaer of the New York Mercantile Exchange has been elected to the Co-Chair position of the Global Derivatives Committee (GDC). He will work alongside Jim Northey of Jordan & Jordan who has served in this position since the beginning of 2003.
Samuel Gaer was the founder of TradinGear, a trading software development company. He developed and architected the TradinGear Financial Instrument Network eXchange (TGFIN/X), which is the basis for the NYMEX ClearPortsm trading platform. In March 2003, the New York Mercantile Exchange purchased certain assets of the firm that comprised the TGFIN/X and Mr. Gaer was appointed to the role of Chief Information Officer of the New York Mercantile Exchange. Since coming to the New York Mercantile Exchange, Mr. Gaer has rebuilt the IT department with a business-first focus and in doing so, realized substantial savings and directed the technological innovation and transformation of the organization. In addition, he has been the business leader on many major initiatives at The Exchange.
In 1999, while at TradinGear, Mr. Gaer was introduced to the FIX protocol as a standardized means of connecting and communicating with brokerages and exchanges. Subsequently, all systems at TradinGear were designed with FIX as their 'data dictionary', which allowed for rapid deployments and integrations of systems. Mr. Gaer has spearheaded the FIX effort at Nymex, introducing Nymex's first FIX API in March 2003, and more recently its order routing system (NEON), its Cleared Trades API in FIXML for straight-through-processing, and the upcoming single-point-of-access Nymex FIX gateway.
Jim Northey of Jordan & Jordan and Global Derivatives Co-Chair stated, "I am pleased to be able to share the role of Co-chair with Sam. His extensive experience in the futures industry, as a trader, running a trading firm, starting multiple software companies, and then moving into executive management at the New York Mercantile Exchange as its CIO, provides the GDC with a wealth of experience and perspective. I think Sam will infuse energy and enthusiasm into the GDC."
In addition, the Global Derivatives Committee would also like to welcome Matt Simpson of the Chicago Mercantile Exchange, as the new Co-chair of the GDC Technical Subcommittee. Matt joins Robert Stowsky, President and CEO of Brook Path Partners, the other Co-chair of the GDC Technical Committee. Matt was one of the originators in the use of FIX for listed derivatives post trade processing and played an integral role in expanding the post trade messages within the FIX 4.4 standard. Matt is also providing a leadership role representing the CME in the Market Data Optimization Working Group. Matt will continue his role in coordinating activities between the GDC and the FIA Standards Working Group, chaired by John Munro of Rolfe & Nolan.
Finally, Carol Vazirani of Jordan & Jordan has been officially named as a Co-chair of the Global Derivatives Education & Marketing Subcommittee. Carol has been serving in this capacity informally since August 2003. Carol was responsible for reactivating the GDC Newsletter. Prior to joining Jordan & Jordan Carol was with the Chicago Board Options Exchange where she led the project to build and deploy the very first FIX order routing interface at CBOE.