William J. Rainer, former chairman of the Commodities Futures Trading Commission, was named chairman and CEO of a new joint venture with the Chicago Board Options Exchange, Chicago Board of Trade and Chicago Mercantile Exchange for trading single-stock futures. The exchanges also appointed eight officials from all three exchanges as board members for the joint venture.
The venture, as yet unnamed, will be a for-profit company with its own management and board. It will be separately organized as a regulated exchange.
