Steve Radez founded Essex Radez and became a member of
the CBOE in 1977. After graduating with a bachelor’s in
Mathematics from Purdue University in 1966, he was a
systems engineer with IBM in Chicago. He then moved into
the securities field as an account executive with
Merrill Lynch and several other securities firms.
Throughout his career, Steve concentrated primarily on
electronic trading, even before it was fashionable.
Early on, he found it difficult to stand in a pit and
wait for order flow. Most of his involvement was on the
retail side of the market. As early as 1980, Steve was
able to electronically originate and route orders with a
total black-box order generation and portfolio
management system. Not until more recently has the
wholesale end of the business become electronic,
although it is still a long way from total electronic
capabilities in most markets.
Currently, Steve is working to improve trading
performance on both the wholesale and retail sides of
the marketplace. He believes the future of trading, both
retail and wholesale, will be totally electronic.