CHICAGO--(BUSINESS WIRE)-- OCC, the world’s largest equity derivatives clearing organization, today announced that Kurt Eckert, Partner and Head of Market Structure at Wolverine Trading, Rachelle Keller, Chief Operating Officer for Prime, Futures and Securities Services at Citi, and Stephen Luparello, Managing Director and General Counsel for Citadel Securities, have joined the Board of Directors as Member Directors.
Luparello was appointed to fill a vacancy for a term ending in 2018 created by the departure of Jamil Nazarali. Eckert was appointed to fill a vacancy for a term ending in 2019 created by the departure of Ray DiSanza. Keller was appointed to fill a vacancy for a term ending in 2020 created by the departure of Eric Noll.
“As a Systemically Important Financial Market Utility, OCC works to ensure confidence in the financial markets and the broader economy,” said Craig Donohue, OCC Executive Chairman and Chief Executive Officer. “The addition of Kurt Eckert, Rachelle Keller and Stephen Luparello to our board of directors supports OCC’s objectives to sustain resiliency, foster innovation, and lead our advocacy and education efforts while continuing to drive industry growth and contribute to the reduction of systemic risk in the financial system.”
In his role at Wolverine Trading, Eckert builds execution algorithms that incorporate the latest market structure dynamics. Wolverine Trading is comprised of a number of diversified financial institutions specializing in proprietary trading, asset management, order execution services, and technology solutions. Eckert has served on the boards of several options exchanges, including MIAX Options Exchange, Bats Options Advisory Board, NYSE ARCA Options, CBOE Advisory Board, and BOX Options Exchange. He graduated from Indiana University’s Kelley School of Business with degrees in finance and computer information systems.
Keller has served in her current role at Citi since May 2016. From 2014 to 2016, she was Managing Director and Chief Operating Officer for Investor Services, and from 2011 to 2014 she served as Managing Director and Head of Global Costing and Analytics at Citi. Keller also worked as Senior Vice President and Chief Financial Officer for IPG, the brokerage servicing business of Fidelity Investments, and as Managing Director and Chief Financial Officer of Treasury Security Services at JP Morgan Chase. She graduated from Arkansas State University with a Bachelor of Science degree in Accounting.
Prior to joining Citadel Securities in 2017, Luparello was the Director of the Division of Trading and Markets for the U.S. Securities and Exchange Commission (SEC). Before joining the SEC, he was a partner at the law firm of WilmerHale, specializing in broker-dealer compliance and regulation, securities litigation, and enforcement. Luparello joined the firm after 16 years with the Financial Industry Regulatory Authority (FINRA) and its predecessor, the National Association of Securities Dealers. As FINRA’s Vice Chairman, he was responsible for its examination, enforcement, market regulation, international, and disclosure programs. He also served as Chief of Staff for then CFTC-Chairman Mary Schapiro, and at the SEC in the Division of Market Regulation. Luparello received a Bachelor of Arts degree from LeMoyne College and a law degree from Washington & Lee University.
OCC is the world’s largest equity derivatives clearing organization and the foundation for secure markets. Founded in 1973, OCC operates under the jurisdiction of both the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) as a Derivatives Clearing Organization. Named 2016 Clearinghouse of the Year – The Americas by FOW Magazine and 2016 Clearinghouse of the Year by Global Investor/SIF Magazine, OCC now provides central counterparty (CCP) clearing and settlement services to 19 exchanges and trading platforms for options, financial futures, security futures, and securities lending transactions. More information about OCC is available at www.theocc.com.
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