Catherine R. Clay is a seasoned executive with more than 25 years of experience in the global derivatives industry. She joined CBOE Global Markets Inc. (formerly the Chicago Board Options Exchange) in 1996 as Director of Product Development, quickly advancing through key leadership roles including Vice President of Product Development, Senior Vice President of Business Development, and President of the C2 Options Exchange subsidiary from 2010 to 2014. In these positions, she spearheaded innovative product launches and strategic initiatives that expanded CBOE's footprint in options and futures trading. As Executive Vice President and Head of Global Derivatives from 2014 to 2020, Clay oversaw a diverse portfolio encompassing volatility products like VIX futures and options, interest rate derivatives, and international offerings. Under her leadership, CBOE achieved record trading volumes, launched pioneering products such as Bitcoin futures and target outcome ETFs, and strengthened global partnerships, including joint ventures in Europe and Asia. Her efforts drove multibillion-dollar growth in derivatives revenue and solidified CBOE's reputation as a leader in risk management and exchange innovation. Clay's achievements have earned her widespread recognition, including industry awards for product innovation and executive leadership. Her tenure transformed CBOE's derivatives business into a global powerhouse, leaving a lasting legacy of strategic vision and operational excellence that continues to influence the firm's competitive edge in capital markets.