Vincent Viola - Founder & Non-Executive Chairman
Vincent Viola is a Founder and Non-Executive Chairman of IDCG.
Mr. Viola began his financial career as an independent “local” trader on the floor of NYMEX becoming a member of the exchange in 1982. During his career Mr. Viola served in various positions of leadership and service at NYMEX.
Known throughout the regulated derivatives exchange space as an innovative and creative business leader, Mr. Viola served as the Chairman of NYMEX from 2001 to 2004. During this period Mr. Viola conceived and effected the direction of the first regulated exchange product and market structure, ClearPort Clearing©, which is capable of pricing and clearing over-the-counter swaps and transactions. Many cite this mechanism with greatly reducing the economic fallout and disruption caused by the implosion of ENRON.
The ClearPort Clearing Platform is an industry accepted standard for energy risk management. In 2004, Mr. Viola was selected to be a member of the inaugural class of the Energy Risk Management Hall of Fame. Mr. Viola is a founder and principal of numerous successful proprietary trading and clearing firms. Mr. Viola received his B.S. degree from the United States Military Academy at West Point in 1977 and a J.D. from New York Law School in 1982.
John C. Shay - Founder & Chief Marketing Officer
John C. Shay is a Founder and has served as Chief Marketing Officer of IDCG since its inception in 2007.
His responsibilities include overseeing all Sales efforts within IDCG; such as managing all buy-side, sell-side and clearing member relationships. He is a frequent representative for IDCG at industry conferences and is a member of the IDCG Management Committee.
Before founding IDCG, Mr. Shay was a Founder and Managing Partner of Capital Market Services Inc, a wholly owned clearing and execution services business designed to improve market access for algorithmic strategy hedge funds in the over-the-counter and exchange traded space. Previously, Mr. Shay spent almost 25 years managing various businesses for ICAP.
From 2003 to 2007, he was Executive Vice President and Global Head of Sales for ICAP Electronic Broking (IEB) for Fixed Income and Foreign Exchange. Mr. Shay was critical in creating strategic partnerships in China, Hong Kong, Japan, South America and the EU. He worked to integrate the Brokertec business (which IEB acquired in May 2003) and to drive market share in U.S. Treasuries, Mortgage Backed Products, and Repo.
Mr. Shay was critical in integrating global sales efforts with the EBS (which IEB acquired in June 2006), concentrating in Spot Fx, Fwd FX, Emerging Market FX and Precious Metals. Mr. Shay earned an M.B.A. from Columbia Business School, Columbia University and a B.B.A. from Pace University's Lubin School of Business graduating magna cum laude.
Michael K. Dundon - Chief Risk Officer
Michael K. Dundon has served as Chief Risk Officer for IDCG since early 2008.
His responsibilities are all aspects of risk management including designing the framework and infrastructure for the clearinghouse, writing risk policies and procedures related to valuation and default management. He also chairs the Risk Committee, is a board member of the Clearinghouse and a member of the IDCG management committee.
Prior to joining IDCG, Mr. Dundon was the Vice President and Head of Risk Management at The Clearing Corporation. From 2005-2008, Mr. Dundon worked on ensuring the robust risk framework for the firm's clearing activities in over-the-counter products. He built middle office risk infrastructure to support Credit Default Swap/Index/Tranche, Fixed Income, Foreign Exchange, Interest Rate, Energy, and Pollution contracts and he implemented risk policies and procedures to maintain central counterparty status.
Mr. Dundon also restructured the guaranty fund to support credit derivatives and innovative over-the-counter products. Previously, Mr. Dundon held the positions of Business Risk Consultant at the Man Group Plc from 2003-2004 and Internal Risk Manager and Head of Risk Management at Newedge, formerly Calyon Financial, from 1999-2003.
Mr. Dundon held the positions of Risk and Information Team Leader and Manager from 1997-1999 and Treasury Risk Consultant and Manager from 1996-1997 at project VISTA in Dublin, Ireland. At Calyon Financial, Mr. Dundon was Vice President in Treasury Administration from 1993-1995, Assistant Vice President and Treasury Credit Manager from 1991-1993, Assistant Treasurer and Credit Analyst from 1988-1989, and Project Analyst from 1988-1989.
Mr. Dundon earned his M.S. in Information Technology from Northwestern University in 2002 and his B.S. in French and Business at Penn State University in 1987. He is affiliated with the Global Association of Risk Professionals (GARP) and the Professional Risk Managers International Association (PRMIA).
Garry N. O'Connor - Chief Executive Officer
Garry N. O'Connor was appointed Chief Executive Officer in December 2009. He also serves on the Board of Directors for IDCG.
He joined IDCG in 2008 as Chief Product Officer and remains responsible for designing and implementing IDCG's cleared interest rate derivatives products. Mr. O'Connor has testified on Capitol Hill, met with government regulators and spoken at numerous industry forums on the need for central counterparty clearing and the benefits of extending clearing to all markets participants.
Prior to joining IDCG, Mr. O'Connor spent seventeen years in the Investment Banking industry, pricing and managing interest rate derivative portfolios. He has held senior positions in Sydney, Tokyo, Hong Kong and New York with Bankers Trust and then Merrill Lynch.
During his time at Merrill Lynch, Mr. O'Connor held a number of roles managing interest rate derivatives risk including:
- leading the Australasian interest rate derivatives trading operation out of Sydney;
- leading the Japanese Yen swaps desk out of Tokyo;
- and establishing and managing a USD interest rate trading business in Hong Kong.
Most recently he was charged with establishing a North American presence in the European derivatives markets. At Bankers Trust, Mr. O'Connor managed interest rate, foreign exchange, and commodities risk in Auckland and in Sydney. He was also responsible for price making and risk management activities in Australian and New Zealand interest rate derivatives.
Mr. O'Connor received a BCom(Hons) from Otago University in 1992.
Alan C. Sobba - Chief Policy and Communications Officer
Alan C. Sobba is IDCG's Chief Policy and Communications Officer since early 2008.
His responsibilities include serving as the primary policy advocate and spokesperson for IDCG. He is chief liaison to Congress, the Administration and the Commodity Futures Trading Commission. Sobba works closely with industry trade associations and a member of the IDCG management committee.
Prior to joining IDCG in 2008.Mr. Sobba had extensive experience in dealing with policy makers and the media on a variety of issues. He has served as spokesperson and Director of External Affairs for the CFTC from 2002 to 2007. He was responsible for the coordinating agency interaction with Congress, the White House, the Treasury Department, the Securities and Exchange Commission, the Federal Reserve and the Federal Energy Regulatory Commission.
In addition, Mr. Sobba was the chief lobbyist for the Commissioner of Major League Baseball and worked for the National Cattlemen's Beef Association in a variety of legislative and communications roles. He also manages a grain farming operation in Kansas.
Mr. Sobba received his undergraduate degree from Kansas State University, M.B.A. degree from Arizona State University, and his law degree from the University of Kansas School of Law.
Robert C. Push - Treasurer
Robert C. Push is the Managing Director/Treasurer since 2008.
His duties include managing all IDCG's banking relationships related to credit lines, collateral and settlements. He serves on the clearinghouse's risk and clearing members committees.
Prior to joining IDCG, Mr. Push was President of Liberty Gateway Asset Management Co. (Commodity Pool Operator), a position that he held since May 2007 and subsequently had a consulting firm, Robert Charles Consulting LLC, which provided banking and treasury consulting services to the futures industry.
From August 1992 through April 2004, Mr. Push was a Brown Brothers Harriman & Co. (BBH) Managing Director responsible for margin settlement services provided to futures clearinghouses and their members. While at BBH, he raised over $10 billion in fixed income management mandates, all related to futures margin settlements and was the principal architect of BBH’s money fund portal used to satisfy futures margin requirements.
From June 1982 through August 1992, Mr. Push was a Chemical Bank (now JP Morgan Chase Bank) Vice President, responsible for it futures industry banking/custody business. He is a member of the Managed Funds Association and a former director of the Futures Industry Association's (FIA) Futures Services Division and founded its Financial Management Committee. Mr. Push was also a member of the FIA's Law and Compliance Division and a FIA Institute for Financial Markets lecturer.
Mr. Push studied finance at Pace University, received an Advance Degree in Commercial Banking from New York University, and successfully completed Chemical Bank's Credit Training and Advance Credit Programs.