The North American Derivatives Exchange (Nadex) announced the appointment this week of Donald L. Horwitz as General Counsel and Chief Regulatory Officer. In his new role, based in Chicago, Mr. Horwitz is responsible for providing counsel and guidance on all regulatory and legal matters within the exchange.
Mr. Horwitz will join as a member of the senior management team reporting to Timothy McDermott, who is transitioning from his role to assume full responsibility as Nadex?s CEO.
Mr. McDermott said in a press release,??As retail traders are becoming more educated in binary options as an investment vehicle, I am excited to step into the position of CEO at this time of strong growth at the exchange. I am certain that Don?s unparalleled experience in the legal and regulatory space will ensure our continued compliance with the constantly evolving regulatory landscape.?
Mr. Horwitz joins Nadex from the Intellectual Property Exchange International, where he served as a Managing Director and General Counsel and focused on providing strategic advice on all legal, governance and regulatory matters. He has also worked as Managing Director, General Counsel and Chief Regulatory Officer at OneChicago, where he was utilized in a similar capacity.
He also previously worked in positions at the SEC, Merrill Lynch, BrokerTec Futures Exchange, The Options Clearing Corporation and ABN Amro.
Mr. Horwitz said, ?I am very impressed with the growth that binary options trading have seen at Nadex. During a time of increased compliance scrutiny and evolving regulatory frameworks, I am excited to work with the entire Nadex team in maintaining compliance standards and delivering investors an industry-leading binary options trading platform.?
A seasoned industry veteran, Mr. Horwitz brings a wealth of experience in legal counsel to exchanges. Prior to joining Nadex, he spent more than 35 years providing legal counsel, litigation support, and regulatory supervision to the futures, derivatives, and securities industries, as well as top-tier global financial institutions.
Mr. Horwitz earned his bachelors from the University of Michigan and his Juris Doctor from Wayne State University Law School. He is a member of the Illinois, Michigan and?New York state bars; he is an adjunct professor of futures and derivatives law at Chicago Kent College of Law.