ISE adds Morgan Stanley executive to board

The International Securities Exchange (ISE) has appointed Thomas Cardello, managing director responsible for global electronic derivatives marketing within the institutional equity division at Morgan Stanley, to its board.

Cardello will serve as the board representative for the New York-based electronic options exchange’s market-making members, said the ISE.

“Over the course of his career, Tom has demonstrated a deep understanding of the derivatives industry,” said David Krell, ISE’s chief executive. “His success in building the global derivatives business at Morgan Stanley has led to its growth into a position of international leadership.”

Cardello joined Morgan Stanley in 1999. Before this, he owned a consultancy firm that specialised in structuring portfolios of alternative assets. He has also been an executive director at hedge fund Paloma Partners, where he was responsible for investment strategy analysis and development, fund-wide risk analysis, and management of a foreign exchange fund.

The ISE has 15 board members, comprising seven industry directors and eight non-industry directors.