David Silverman is the CEO of Alpha Trading, a proprietary trading firm in Chicago.
He previously served as chief operating officer of the Intellectual Property Exchange International (IPXI). He held that position from January 2008 to April 2010. As COO for IPXI, he was responsible for overseeing all aspects of the day-to-day operations of the exchange under development.
Silverman began his professional career in 1982, as a member of the Chicago Mercantile Exchange (CME), trading futures and options in various pits on the floor of the exchange. In the late 1990s, he left the trading floor and began trading in the emerging electronic securities and futures markets on various trading platforms.
In 1999, Silverman became a founder and principal of Aspire Trading Company LLC, one of first electronic trading arcades in Chicago, which he managed and used to conduct his own trading activities until 2006.
Since leaving the trading floor, Silverman has acted as a consultant to companies in the financial services industry, including exchanges, hedge and private equity funds, trading technology companies, and futures commission merchants. Silverman also freelanced as a journalist and wrote a monthly column for Stocks, Futures & Options Magazine. He also wrote a book about electronic futures trading entitled Direct Access Futures: The Complete Guide to Trading Electronically (John Wiley & Sons).
In addition to his trading career, Silverman was elected to the CME board of directors by the members of the exchange four times and served more than eight years. Silverman was a candidate for chairman of the CME in 1998, but lost to Scott Gordon by two votes.
During his CME board tenure, Silverman was involved in many of the strategic initiatives taken by the exchange. Areas in which he played a role included: the development of the CME’s electronic trading capabilities, the introduction of wireless technology to the trading floor, the development and introduction of a handheld computerized trading card, the streamlining of the CME’s committee structure, the development of new trading products, business conduct and compliance, and the creation and implementation of the Globex Foreign Exchange Facility (GFX), a subsidiary of the CME that makes markets in a wide variety of currency futures and in the over-the-counter FX markets. Silverman was appointed by the CME board as the first chairman of the board of the GFX and served in that capacity for more than four years.
Silverman received his B.A. in History from the University of Chicago in 1981.
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