Exhibit B-Page 1

101649819

Form SEF: Exhibit B

Exhibit Narrative

2. Attach as Exhibit B, a list of the present officers, directors, 

governors (and, in the case of an Applicant that is not a 

corporation, the members of all standing committees, grouped 

by committee), or persons performing functions similar to any of 

the foregoing, of the swap execution facility or of any entity that 

performs the regulatory activities of the Applicant, indicating for 

each:

a. Name

b. Title

c. Dates of commencement and termination of present term 

of office or position

d. Length of time each present officer, director, or governor 

has held the same office or position

e. Brief account of the business experience of each officer 

and director over the last five (5) years

f. Any other business affiliations in the derivatives and 

securities industry

g. For directors, list any committees on which they serve 

and any compensation received by virtue of their 

directorship

h. A description of:

(1) Any order of the Commission with respect to such 

person pursuant to section 5e of the Act;

(2) Any conviction or injunction against such person 

within the past ten (10) years;

(3) Any disciplinary action with respect to such person 

within the last five (5) years;

(4) Any disqualification under sections 8b and 8d of the 

Act;

(5) Any disciplinary action under section 8c of the Act; 

and

(6) Any violation pursuant to section 9 of the Act.

The Company’s Board of Directors (the “Board”) currently has two members, one of whom (Mr. 

Dutterer) is a Public Director as that term is defined in the Rules. The current Board members, and a list 

of the committees on which they serve, are set forth below. This Exhibit B includes all standing 

committees and all members of such standing committees.

Board Member One

1. Name: Colin Heffron

2. Title: Director and Chief Executive Officer

3. Dates: July 15, 2013 – Present

4. Length of service: July 15, 2013 – Present

5. Business experience over the last five years: Mr. Heffron has been a Director of GFI Group since 

November 2001, President of GFI Group February 2004 – February 2013, CEO of GFI Group 

February 2013 – March 2015, and now serves as the CEO of the GFI Division of BGC.. Mr. Heffron 

is responsible for all of GFI Group’s brokerage operations and trading system software, data and 

analytics businesses. Mr. Heffron joined GFI Group in the New York office in 1988 as a broker of 

foreign currency options before moving to London to assist in the establishment of GFI Group’s 

London office. From 1991 until 1994, Mr. Heffron headed the global currency options business. 

From 1994 until 1997, Mr. Heffron ran the day-to-day operations of all of GFI Group’s U.K. 

businesses. From 1998 until February 2004, Mr. Heffron was head of all of GFI Group’s operations 

in the U.K. and joint-head of GFI Group’s Asian operations. Mr. Heffron has extensive experience in 

the wholesale brokerage industry, with over 20 years of experience at GFI Group.

6. Other business affiliations: Director of BondDesk Group. No other affiliations in the derivatives 

or securities industries (other than with other GFI affiliates)

7. Committee membership and compensation: Chairperson, Participation Committee. No 

compensation for service as a Director.

8. None of the following:

(1) Any order of the Commission with respect to such person pursuant to Section 5e of the CEA;

(2) Any conviction or injunction against such person within the past ten (10) years;

(3) Any disciplinary actions with respect to such person within the last five (5) years;

(4) Any disqualification under Sections 8b and 8d of the CEA;

(5) Any disciplinary action under Section 8c of the CEA; and

(6) Any violation pursuant to Section 9 of the CEA.

Board Member Two

1. Name: Dennis Dutterer

2. Title: Director

3. Dates: July 15, 2013 – Present

4. Length of service: July 15, 2013 – Present

5. Business experience over the last five years: After a twenty-year career with The Clearing 

Corporation (f.k.a. the Board of Trade Clearing Corporation), Mr. Dutterer retired in February 2005 
Exhibit B

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Exhibit Narrative

from his role as CEO, President and Director. Thereafter, between 2006 and 2007, Mr. Dutterer 

worked as a consultant to the Dubai International Financial Centre, consulting to the Dubai 

government to write regulations for its financial free zone. He also served as a Director of the Dubai 

Mercantile Exchange between 2008 and 2009, as well as a consultant to the Pakistan Commodities 

Exchange. Mr. Dutterer also worked in various consulting roles to the NYSE Euronext during 2008 

through 2010, and additionally served as Interim CEO of New York Portfolio Clearing LLC in 2008 

and 2009. Most recently, Mr. Dutterer served in the capacity of an expert witness for the 

Commission in the matter of In re Sentinel Trading. Mr. Dutterer has also served as a director of 

GFIX since 2011. Mr. Dutterer is a Director of the Charlottesville Council on Foreign Relations and 

is a member of the local planning commission in Pantops, VA.

6. Other business affiliations: No other affiliations in the derivatives or securities industries (other 

than with other GFI affiliates)

7. Committee membership and compensation: Participation Committees; Chairperson, Nominating 

and Regulatory Oversight Committee. No compensation for service as a Public Director.

8. None of the following:

(1) Any order of the Commission with respect to such person pursuant to Section 5e of the CEA;

(2) Any conviction or injunction against such person within the past ten (10) years;

(3) Any disciplinary actions with respect to such person within the last five (5) years;

(4) Any disqualification under Sections 8b and 8d of the CEA;

(5) Any disciplinary action under Section 8c of the CEA; and

(6) Any violation pursuant to Section 9 of the CEA.

In addition to the aforementioned Mr. Heffron, who is both a Director and Officer of the Company, the 

following are also Officers of the Company:

Additional Officer One

1. Name: Daniel Glatter

2. Title: Vice President, General Counsel and Secretary

3. Dates: October 2, 2013 – Present

4. Length of service: October 2, 2013 – Present

5. Business experience over the last five years: Mr. Glatter joined GFI Group as Vice President & 

Assistant General Counsel in July 2010 and was appointed General Counsel in October 2013. Prior 

to joining GFI Group, Mr. Glatter served as Legal & Regulatory Consultant to The New York Stock 

Exchange-NYSE Liffe US, General Counsel of Virtu Financial LLC, as well as in-house counsel to 

Bear, Stearns & Co. Inc., Société Générale and Merrill Lynch.

6. Other business affiliations: No other affiliations in the derivatives or securities industries (other 

than with other GFI affiliates)

7. None of the following:

(1) Any order of the Commission with respect to such person pursuant to Section 5e of the CEA;

(2) Any conviction or injunction against such person within the past ten (10) years;

(3) Any disciplinary actions with respect to such person within the last five (5) years;

(4) Any disqualification under Sections 8b and 8d of the CEA;

(5) Any disciplinary action under Section 8c of the CEA; and
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Exhibit Narrative

(6) Any violation pursuant to Section 9 of the CEA.

Additional Officer Two

1. Name: James Peers

2. Title: Chief Financial Officer

3. Dates: October 2, 2013 – Present

4. Length of service: October 2, 2013 – Present

5. Business experience over the last five years: Mr. Peers joined GFI Group in August 2002. Prior to 

joining GFI Group, Mr. Peers was a Senior Vice President at Bank One in Chicago from 1999 to 

2001 where he held various positions, including Corporate Controller. He also was the CFO for 

Rabobank International in New York and a Senior Vice President—Corporate Development for the 

Canadian Imperial Bank of Commerce in New York. Mr. Peers is a Certified Public Accountant and 

Chartered Accountant and was a partner at Ernst & Young where he spent 18 years working in their 

Toronto and Chicago offices.

6. Other business affiliations: No other affiliations in the derivatives or securities industries (other 

than with other GFI affiliates)

7. None of the following:

(1) Any order of the Commission with respect to such person pursuant to Section 5e of the CEA;

(2) Any conviction or injunction against such person within the past ten (10) years;

(3) Any disciplinary actions with respect to such person within the last five (5) years;

(4) Any disqualification under Sections 8b and 8d of the CEA;

(5) Any disciplinary action under Section 8c of the CEA; and

(6) Any violation pursuant to Section 9 of the CEA.

Additional Officer Three

1. Name: William Shields

2. Title: Chief Compliance Officer (“CCO”)

3. Dates: October 2, 2013 – Present

4. Length of service: October 2, 2013 – Present

5. Business experience over the last five years: Mr. Shields joined GFI Group in June 2002 as CCO

of GFI Securities LLC. Mr. Shields also served as COO of GFI Securities LLC from 2003 to 2007. 

Prior to joining GFI Group, Mr. Shields was a Staff Supervisor at NASD Regulation, Inc. for six 

years.

6. Other business affiliations: Board Member of the Wholesale Markets Brokers’ Association 

Americas. No other affiliations in the derivatives or securities industries (other than with other GFI 

affiliates)

7. None of the following:

(1) Any order of the Commission with respect to such person pursuant to Section 5e of the CEA;

(2) Any conviction or injunction against such person within the past ten (10) years;

(3) Any disciplinary actions with respect to such person within the last five (5) years;

(4) Any disqualification under Sections 8b and 8d of the CEA;

(5) Any disciplinary action under Section 8c of the CEA; and
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Exhibit Narrative

(6) Any violation pursuant to Section 9 of the CEA.

Additional Officer Four

1. Name: Jerry Dobner

2. Title: Chief Technology Officer (“CTO”)

3. Dates: October 2, 2013 – Present

4. Length of service: October 2, 2013 – Present

5. Business experience over the last five years: Mr. Dobner joined GFI Group in August 2001. Since 

joining GFI Group, Mr. Dobner has served in various positions, including CTO, Global Head of 

Development for eCommerce, Head of Technology for EnergyMatch, Lead Architect for Trading 

Systems and Team Lead for EnSpace. Prior to joining GFI Group, Mr. Dobner was a Market Data 

Systems Architect at News Alert.

6. Other business affiliations: No other affiliations in the derivatives or securities industries (other 

than with other GFI affiliates)

7. None of the following:

(1) Any order of the Commission with respect to such person pursuant to Section 5e of the CEA;

(2) Any conviction or injunction against such person within the past ten (10) years;

(3) Any disciplinary actions with respect to such person within the last five (5) years;

(4) Any disqualification under Sections 8b and 8d of the CEA;

(5) Any disciplinary action under Section 8c of the CEA; and

(6) Any violation pursuant to Section 9 of the CEA.

Additional Officer Five

1. Name: Prash Naik

2. Title: Chief Operating Officer (“COO”)

3. Dates: May 2015 – Present

4. Length of service: May 2015 – Present

5. Business experience over the last five years: Mr. Naik was named the COO of GFI Group in May 

2015. Mr. Naik joined GFI Group in 2000, and has been serving as Managing Director of Finance and Operations for its European entities. He had overall responsibility for the European finance, 

credit/risk, compliance, legal, administration, settlements, operations, IT support and IT development 

teams. Prior to that Mr. Naik served as the Finance Director for GFI Group’s North American 

entities. Prior to GFI Group, Mr. Naik worked at Prebon Marshall Yamane, where he was EMEA 

Financial Controller.

6. Other business affiliations: No other affiliations in the derivatives or securities industries (other 

than with other GFI affiliates)

7. None of the following:

(1) Any order of the Commission with respect to such person pursuant to Section 5e of the CEA;

(2) Any conviction or injunction against such person within the past ten (10) years;

(3) Any disciplinary actions with respect to such person within the last five (5) years;

(4) Any disqualification under Sections 8b and 8d of the CEA;

(5) Any disciplinary action under Section 8c of the CEA; and
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Exhibit Narrative

(6) Any violation pursuant to Section 9 of the CEA.