Prior to joining TXSE, Jeff served as acting general counsel of Charles Schwab and led its Office of Legislative and Regulatory Affairs in Washington, D.C. for the past two decades, managing the company's response to public policy initiatives and advocating for policies that aid individual investors. He has over four decades of securities markets experience, starting his career as an options trader at the Philadelphia Stock Exchange, then founding his own trading firm, and later serving on the exchange's Board of Governors. He also served as senior counsel in the Division of Market Regulation at the U.S. Securities and Exchange Commission. Jeff's additional experience in the securities industry includes serving as vice president for regulation and general counsel at the Cincinnati Stock Exchange and as chairman of the Operating Committee of the National Market System Plan governing Nasdaq securities. Jeff holds degrees from the Wharton School of the University of Pennsylvania and Ohio Northern School of Law.

Prior to joining TXSE, Greg was the Chief Product Officer at Nasdaq within the North American Markets division. An industry veteran with nearly two decades of exchange management experience, Greg has led cross functional teams at Nasdaq responsible for revenue and product management, behavioral analysis, and investment capital assessments associated with the pre-production deployment across the U.S. Equity, ETF and Options markets. Under Greg's leadership, Nasdaq has been the #1 Options market operator for the previous 15 years, and was responsible for managing Nasdaq's US Equities business, which currently operates the largest pool of industry liquidity. Prior to Nasdaq, Greg held a series of positions at Banc of America Securities and had previous sell side experience at Lehman Brothers and Credit Suisse First Boston. Greg has a bachelors of science degree from the University of Florida.

Prior to joining TXSE Group, Jaime served as executive vice president and CFO of Sagent, a Warburg Pincus fintech company, where he guided the company's financial strategy and the rollout of its cloud-native platform. Previously, he served as executive vice president and CFO of Mr. Cooper Group, helping grow the company into one of the largest mortgage servicers in the United States. Earlier in his career, Jaime served as chief accounting officer of Capital Bank, where he supported the bank through its de novo stage, the acquisition and integration of eight banks, a successful IPO, and its subsequent sale. He also served as head of banking finance at First Horizon National Corporation and director of worldwide accounting at Terremark Worldwide Inc., a Verizon Communications company. Jaime began his career in the Ernst & Young assurance practice. He holds a bachelor's degree in accounting from Florida International University and a master of professional accounting from the University of Miami.

Jim has 30 years of experience in U.S. equity markets, alternative investments, and governance of large public retirement systems and endowments. He co-founded trading technology companies that developed early smart order routing technologies and an electronic trading firm that regularly transacted large percentages of U.S. daily equity volume. He started his career in mergers and acquisitions at First Boston and Lehman Brothers. Jim has held several leadership roles in the public sector, including as chairman of the Board of Trustees of the Teacher Retirement System of Texas. Jim was named an EY Entrepreneur of the Year in eServices and is the Chairman and President of the Houston Symphony Endowment. He holds an MBA and a BBA from the University of Texas McCombs School of Business and graduated from the London Business School's finance/hedge funds programmes. Jim also holds multiple FINRA licenses and certifications.

Prior to joining TXSE, Rob was vice president and global head of ETF listings for Cboe Global Markets, Inc. (Cboe). Since joining Cboe in 2015, Rob helped build its ETF business from 20 listed funds to over 1,000 unique ETFs globally. At Cboe, he became a champion for continued innovation across the ETF ecosystem while providing an exceptional listing experience for more than 120 issuers on listing venues in the US, EU, UK, Canada, and Australia. Earlier in his career, Rob held several positions at the New York Stock Exchange (NYSE) where he served as a member of the exchange's global index and exchange traded products team.

Cam is an industry veteran with more than 25 years of experience working at the intersection of trading, regulation, compliance, and innovation. Cam began his career working in the U.S. Securities and Exchange Commission's Division of Market Regulation. He then served as a key member of the team at Island ECN — which became part of Nasdaq — where he was general counsel and chief strategy officer. Cam was also general counsel of Instinet, a global agency broker, and chief strategy officer of its subsidiary, INET ATS. He later served as president of Quantlab Financial, a leading global, multi-asset class trading firm. Most recently, Cam was director of special projects and strategic relationships at Inca Digital. He founded the Modern Markets Initiative and was a board member of BATS, CHI-X Global, and the Cincinnati Stock Exchange. Cam holds a law degree from Seattle University

Prior to joining TXSE, Mathew served as managing director at WoodRock & Co., a Houston-based investment bank. He began his career at Arthur Andersen & Co., where he spent more than a decade and held several roles, including leadership of the enterprise software group, CFO and head of corporate development for Andersen Business Consulting and managing partner of Arthur Andersen Ventures. Mathew has extensive experience in corporate leadership and finance, having previously held senior executive roles at energy services firm Global Geophysical—where he was executive vice president, chief operating officer, and chief financial officer. He was a senior vice president and investment manager in a proprietary energy investments fund within the capital markets group at Lehman Brothers and served as president and CEO of EC Outlook, a SaaS applications provider specializing in B2B data integration and middleware. Mathew is a vice chairman of the Star of Hope Mission, one of the country's leading homeless ministries. He earned a bachelor of business administration degree in finance from the University of Houston.

Rick is a seasoned technology leader with over 20 years of experience in the financial technology industry. Before joining TXSE, Rick served as director of software development at Intercontinental Exchange Data Services, where he spearheaded major projects that transformed the delivery of reference data and evaluated pricing products, including the introduction of continuous evaluated pricing, providing real-time fixed income evaluated prices to clients. Prior to ICE Data Services, Rick was part of the initial technology team at Virtu Financial, where he was instrumental in building the company's low-latency high-frequency trading platform. He previously held software development roles at Instinet, Educational Testing Services, Computer Aid, and Mail.com.

Alex is the global head of strategy at Citadel Securities, a leading market maker. Prior to this, he was a director in Bain Capital's Special Situations fund, based in London. He was previously a partner at McKinsey & Company in the firm's private equity and financial services practices. He began his career as an FX and rates trader. Alex holds an MBA with distinction from INSEAD and a bachelor's degree from McGill University.

Paul is the founder and chief executive officer of Franklin Mountain Investments LLC, a diversified investment company with interests spanning real estate, energy, private equity, construction, aviation, sports, medical devices, and hospitality. He was founder and chief executive officer of Western Refining, which was a Fortune 200 oil refiner and marketer sold to Andeavor (formerly Tesoro) in 2016. Andeavor is now part of Marathon Petroleum Corp. Currently, Paul is a member of the board of trustees of the Baylor College of Medicine and the board of directors of WestStar Bank, and a member of the Texas Parks and Wildlife Commission. Previously, he served as chairman of the board of the Electric Reliability Council of Texas (ERCOT), vice chairman and chairman of the University of Texas System Board of Regents, and as chairman of the University of Texas Investment Management Company (UTIMCO). He is a past director of the El Paso branch of the Dallas Federal Reserve Bank. A notable philanthropist, Paul has extensively supported educational and community initiatives, including through major contributions to Baylor University and the Texas Tech University Health Sciences Center. Paul is a graduate of Baylor University, where he earned a bachelor of business administration in accounting.

Mr. Hartley serves as an observer to the TXSE Group Board. Connor is a managing director and global head of corporate development at BlackRock, where he partners with senior leadership to source, evaluate, and execute inorganic growth initiatives, including acquisitions, divestitures, strategic partnerships, and corporate venture investments. Prior to joining BlackRock, Connor served as head of M&A and ventures at S&P Global, having joined the firm through its merger with IHS Markit. At IHS Markit, he was managing director and head of corporate development. Earlier in his career, he held several senior corporate strategy and development roles at Ipreo, a leading provider of market intelligence and technology solutions to corporate issuers, private equity firms, institutional investors, and investment banks. Connor holds a BA from Georgetown University, with a double major in international business and marketing, and an MBA from Fordham University.

Jim has 30 years of experience in U.S. equity markets, alternative investments, and governance of large public retirement systems and endowments. He co-founded trading technology companies that developed early smart order routing technologies and an electronic trading firm that regularly transacted large percentages of U.S. daily equity volume. He started his career in mergers and acquisitions at First Boston and Lehman Brothers. Jim has held several leadership roles in the public sector, including as chairman of the Board of Trustees of the Teacher Retirement System of Texas. Jim was named an EY Entrepreneur of the Year in eServices and is the Chairman and President of the Houston Symphony Endowment. He holds an MBA and a BBA from the University of Texas McCombs School of Business and graduated from the London Business School's finance/hedge funds programmes. Jim also holds multiple FINRA licenses and certifications.

Tom is a distinguished financial executive who currently serves as co-chief executive officer of Energy Transfer LP, owner and operator of one of the largest and most diversified portfolios of energy assets in North America. He was previously chief financial officer of Energy Transfer and has been a member of its board of directors since April 2019. He brings over three decades of experience in the energy and financial sectors, including as executive vice president and chief financial officer of Regency GP LLC. He also served in several executive positions at Matrix Service Company, DCP Midstream Partners, LP, and Duke Energy Corp. He was appointed by Gov. Abbott to the Texas State University System Board of Regents in May 2023 and has served on the board of directors of Texas Capital Bancshares, Inc since 2022. He also serves as chairman of the board of directors of USA Compression Partners, LP and previously was on the board of Sunoco LP. Tom received his bachelor's degree in accounting from Lamar University and is a certified public accountant.

The Honorable Rick Perry is a distinguished American politician known for his extensive public service. He served as the 14th U.S. Energy Secretary from 2017 to 2019, overseeing America's rise to become the top producer of oil and gas in the world. Prior to this role, Sec. Perry was governor of Texas, holding office from 2000 to 2015, making him the longest-serving governor in Texas history. During his tenure, he championed pro-growth principles that made Texas one of the largest economies in the world and oversaw the relocation of hundreds of millions of dollars in private sector business and thousands of jobs to Texas. He remains active in public policy and advocacy, currently serving as the chair of the Center for Energy & Environment at the America First Policy Institute​. He is also a member of the board of directors of Energy Transfer LP. Before his political career, he served as a C-130 pilot in the U.S. Air Force and attained the rank of captain. Sec. Perry graduated from Texas A&M University.

Rick is a former commissioner at the U.S. Securities and Exchange Commission, serving from 1990 to 1995. Currently, he is a co-founder and principal at RR&G, a regulatory and legislative consulting firm. He previously was a partner at the law firm of Thelen, Reid & Priest in Washington, D.C. Over the years, Rick has advised clients on significant regulatory initiatives and developments. He holds a bachelor's degree in electrical engineering from Auburn University and earned his JD from the University of Alabama School of Law.

As chief administrative officer at Schwab, Adele Taylor leads the company's corporate strategy, corporate development, vendor management, and real estate functions. Adele joined Schwab in September 2024 from Franklin Templeton, where she was SVP and lead, corporate strategy and corporate development. In that role, she shaped and drove strategic direction at the corporate and business line levels, evaluated and executed on growth and efficiency opportunities, and steered development and partnership efforts. Prior to Franklin Templeton, Adele served as a consultant at McKinsey & Company for over a decade, most recently as partner and the leader of the West Coast wealth and asset management practice. In this capacity, she advised senior executives in the wealth management, asset management, banking, and retirement industries on major strategic choices and drove transformational execution programs. She received her undergraduate degree from Yale University and an MBA from Columbia University.

Ms. Theisen serves as an observer to the TXSE Group Board. Sonali is global head of FICC electronic trading and markets strategic investments at Bank of America, where she oversees electronic trading and plays a central role in delivering results in digital markets across algo development, portfolio and Fixed Income ETF trading, blockchain initiatives, data intelligence and client connectivity. She also manages the Global Markets’ fintech investment and partnership portfolio and chairs the firm’s Digital Assets Forum. Sonali was previously appointed by the SEC to serve on the Fixed Income Market Structure Committee (FIMSAC) from 2018-2021, as the only global bank representative. In 2019, she became the firm’s representative on the Federal Reserve Board’s Alternative Reference Rate Committee (ARRC). In Europe, Sonali served as the chair of the Secondary Markets Practices Committee of the International Capital Markets Association (ICMA) from 2016 to 2019. Prior to joining Bank of America, Sonali spent five years at Citi as global head of market structure and data strategy for credit and securitized products. She has also held credit market positions at Goldman Sachs, Barclays, and Bear Stearns. Sonali has been recognized with Crain’s Notable Women on Wall Street, Markets Media’s Excellence in FICC Trading, and Women in Financial Markets’ Game Changer awards. She graduated cum laude from Harvard with a bachelor's degree in economics and citation in Spanish.

Tyson is founder and chief executive officer of Circuit, an innovative AI startup building the world's most trusted knowledge network that empowers people, communities, and organizations to focus on what matters most. He currently serves on several prestigious boards, including the Federal Reserve Bank of Dallas, Johns Hopkins University Whiting School of Engineering, and Austin Monitor. Prior to Circuit, Tyson was president and chief executive officer of Silicon Labs where he led the company's transformation from a semiconductor component supplier into a global leader in silicon, software, and solutions for Internet of Things (IoT). He spearheaded five internal startups during his tenure, driving annual revenue beyond $1 billion and earning widespread global recognition. Tyson announced his retirement from the company at the end of 2021 after Silicon Labs completed the sale of the legacy infrastructure and automotive product lines to Skyworks Solutions (NASDAQ: SWKS) for $2.75 billion. Previously, Tyson worked at Broadcom and Cirrus Logic. An engineer at heart, Tyson received a BS from Johns Hopkins University and an MS from UCLA, both in electrical engineering, and holds more than 80 patents.

Paul Donahue is the non-executive chairman of Genuine Parts Company. He previously served as GPC's chief executive officer from 2016 to 2024, and chairman from 2019 to 2024. He has held several management positions in his 21+ years with the firm, including executive leadership roles at S.P. Richards Company, GPC's business products group, and the U.S. Automotive Parts Group. Prior to joining GPC, Paul served in various roles at Newell Office Products, including president of Sanford North America, vice president, and vice president of sales. Paul began his career with the Newell Companies in 1978 and held numerous sales and management roles during his tenure. Paul is an active supporter of The United Way, Boys and Girls Clubs of America, and the City of Refuge. He is a member of the Carlyle Fraser Heart Center Advisory Committee and the Woodruff Arts Center board of trustees. Paul serves on the Rollins, Inc. board of directors and sits on their Human Capital Management and Compensation Committee. He also serves on the Emory Healthcare board of directors. He served as the 2023 chair of the Metro Atlanta Chamber and on Truist Bank's board of directors from 2019 to 2023.

Ken Hersh is chairman of his family investment office, HFI Capital Management. Until recently, he served as president and CEO of the George W. Bush Presidential Center, a Dallas-based non-partisan institution which houses the George W. Bush Presidential Library and Museum and the George W. Bush Institute. Previously, he was co-founder and CEO of NGP Energy Capital Management, one of the nation's largest natural resources private equity investment firms, which pioneered private equity investing in the sector. Under his leadership, NGP invested over $12 billion and performed in the top quartile throughout, making it one of the nation's leading investment firms. Before, Ken was a strategic advisor to the Carlyle Group where he served on the firm's Management Committee and investment committees of its natural resources platforms. Ken is also involved in the nonprofit arena personally and through the efforts of the Hersh Foundation. He sits on the boards of the George W. Bush Foundation, the Global War on Terrorism Memorial Foundation, the Texas Rangers Baseball Club, and numerous other civic organizations. He is a member of the Hoover Institution's Board of Overseers executive committee, the Dean's Advisory Council of Stanford's Graduate School of Business and the Council on Foreign Relations. He began his career at Morgan Stanley & Co. where he was a member of the firm's energy investment banking group. He holds a bachelor's degree from Princeton University, and an MBA from Stanford University's Graduate School of Business.

Anna Kurzrok is managing director and head of market structure at Jefferies, where she leads the firm's market structure advisory efforts. Anna advises institutional clients on structural and regulatory developments affecting trading, market liquidity, order handling, and execution quality. Prior to joining Jefferies, she held senior roles across leading financial institutions, where she developed her strong foundation in equities, electronic trading strategy, regulation, and client advisory. Anna serves on the board of the National Organization of Investment Professionals. She holds a bachelor's degree in economics from the University of Delaware.

Jaime Llano is the Head of Multi-Asset Trading at the Teacher Retirement System (TRS) of Texas. He joined TRS in 2005 and served as Co-Chair of the Management Committee for the Investment Management Division. Jaime has experience trading equities, foreign exchange, repos, options, and futures. Prior to joining TRS, Jaime worked for Black River Asset Management, Cargill Trade Structure Finance in Minneapolis, and Cargill Investor Services in Chicago. He is a member of the National Organization of Investment Professionals (NOIP). Jaime holds a bachelor's degree in Finance from the University of Texas at Austin and master of business administration from St. Edwards University.

Laura Morrison is an independent trustee on Rayliant Funds Trust and is chairperson and director on the Women in ETFs board. She also serves as a strategic advisor for TXSE. Previously, Laura was the chief revenue officer at Direxion, a leading provider of leveraged, inverse, and thematic ETFs. She was also the global head of listings and the global head of exchange traded products at Cboe Global Markets, where she oversaw the Cboe listings business, including strategy development for ETP launches and transfers, and market-quality incentive programs. Before taking over the lead roles at Cboe, she was the global head of indices and exchange traded products at the New York Stock Exchange. Laura holds a bachelor's degree from Western Michigan University.

Darren Mulholland is the global head of business development at Hudson River Trading, overseeing the team that interfaces with regulators, markets, and clients worldwide. Darren first joined HRT as head of strategic initiatives, where he was responsible for growing the business globally. Previously, he was head of technology at NASDAQ and has 30 years of experience in financial markets. Darren holds a bachelor's degree in economics from the University of Texas at Austin.

Rebecca Rettig is chief operating officer and chief legal officer at Jito Labs, Inc., building high frequency trading infrastructure for the Solana blockchain. Rebecca began her legal career at Cravath, Swaine & Moore LLP, where she litigated complex financial disputes and worked on landmark matters. She currently maintains an of counsel role at Arktouros pllc and has been recognized as one of the top 100 women lawyers in New York by Crain's New York Business. Rebecca is currently a member of the New York Department of Financial Services' Virtual Currency Advisory Board, and previously served on the CFTC's Global Markets Advisory Committee.

Rick Roberts is a former commissioner at the U.S. Securities and Exchange Commission, serving from 1990 to 1995. Currently, he is a co-founder and principal at RR&G, a regulatory and legislative consulting firm. He previously was a partner at the law firm of Thelen, Reid & Priest in Washington, D.C. Over the years, Rick has advised clients on significant regulatory initiatives and developments. He holds a bachelor's degree in electrical engineering from Auburn University and earned his JD from the University of Alabama School of Law.

Jeff Starr is managing director and head of operational services at Charles Schwab & Co. He also sits on the Schwab Executive Council. He is responsible for overseeing the organization, which handles all operational transactions for clients currently doing business with Charles Schwab & Co., Inc. and Charles Schwab Bank. Before taking his current role, Jeff led trading operations for the firm. He also managed the Operations Control and Risk teams. Prior to joining Schwab in 2010, Jeff served as vice president of investment banking in the Financial Institutions Group at Credit Suisse, conducting mergers and acquisitions and capital raising for banks and insurance companies. Prior to joining Credit Suisse, Jeff served in the Financial Institutions Groups at both HSBC Securities and Lehman Brothers. Jeff earned his bachelor of commerce from McGill University and his MBA from Cornell University. He is a CFA charter holder and has his Series 7, 24, 27, and 99 FINRA licenses.

Rich Steiner is managing director and head of market structure and electronic trading at Piper Sandler. Previously, Rich served as the head of global market structure at RBC Capital Markets. He has also held electronic and program trading positions at BNP Paribas, ITG, and Goldman Sachs. He has regularly advocated for more transparent and efficient markets for all industry participants and currently serves on a number of industry groups, including the SIFMA Equity Markets & Trading Committee and is a board member of the National Organization of Investment Professionals (NOIP). Rich holds a bachelor's degree from West Chester University of Pennsylvania.

Andrew Upward is a market structure strategist within Jane Street's Institutional Sales & Trading team. He analyzes market structure and trading developments, and he produces market studies for institutional clients, including global asset managers, pension funds, insurance companies, and wealth platforms. Prior to joining Jane Street, Andrew was head of market structure at Weeden & Co. and previously served as a vice president and market structure analyst at Rosenblatt Securities. Andrew graduated from Kalamazoo College in 2003 with a bachelor's degree in economics.