CHICAGO (HedgeWorld.com)–In a further effort to preach single-stock futures to options traders, OneChicago LLC hired former Chicago Board Options Exchange floor trader Mark Esposito as a project coordinator.

The project will be talking to options traders about why single stock futures are good tools for hedging.

“Mark brings invaluable insights and first-hand knowledge of how options traders can best utilize futures on single stocks to get cheaper, faster and more efficient hedges to their options positions,” said William J. Rainer, chairman and chief executive of OneChicago.

Mr. Esposito spent 23 years on the floor of the CBOE, according to a news release from OneChicago. He has been active in implementing the CBOE’s new hybrid trading system.

“I believe options traders can use single-stock futures as a stock surrogate to create a needed link to the options markets,” Mr. Esposito said.

The all-electronic OneChicago exchange was created through a partnership between the CBOE, Chicago Mercantile Exchange and Chicago Board of Trade. It trades 109 products, including individual stocks, the Dow Jones MicroSector Indexes and the DIAMONDS Trust.

CClair@HedgeWorld.com