The Philadelphia Stock Exchange (PHLX) has promoted Matthew Rotella to vice president of options derivative trading development systems. Rotella has been with the exchange since 1993 and has served as director of application analysis/infrastructure architecture and development since 2001.
Rotella will assume a broader role and have greater influence over the development of PHLX's options trading system and the PBOT futures trading system. He will report to Doug Schafer, first VP of derivative trading systems.
Among other things, Rotella plans to direct platform development to meet the industry's needs for increased quoting and transaction capacity. "The number of contracts trading daily in the options industry has been growing significantly over the past couple of years," he says. "We're staffing up to ensure that we stay ahead of the curve to meet those demands."