OneChicago hires project co-ordinator

OneChicago, the joint venture between the Chicago Board of Trade, the Chicago Mercantile Exchange (CME) and the Chicago Board Options Exchange (CBOE) to trade single-stock futures, has hired Mark Esposito as a project co-ordinator.

Esposito was formerly an options trader at the CBOE.

William Rainer, chairman and chief executive of OneChicago, said Esposito will bring invaluable experience of how options traders can best utilise futures on single stocks to get better hedges on their options positions.

“I believe options traders can use single-stock futures as a stock surrogate to create a needed link to the options markets,” said Esposito.

All trading on OneChicago is conducted electronically on the CBOEdirect match engine, and is also accessible on Globex, the CME's electronic platform.