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The Chicago-based options exchange owner said Ed Tilly “did not disclose” relationships with colleagues as it names his successors as chairman and CEO.

Ed Tilly started as a trader at the Chicago Board Options Exchange in 1987 and worked his way up to chief executive officer. Under his decadelong stewardship, the exchange grew dramatically, and it was having a banner year until Tuesday, when Tilly’s Chicago success story ended abruptly. Knowledgeable, popular among trading professionals and one of the most recognizable faces of his industry, ...

(Bloomberg) -- The letters are stamped all over the hallways of Chicago’s giant skyscrapers and grand office buildings. DRW, IMC, CME, Cboe.Most Read from BloombergHow Auto Executives Misread the UAW Ahead of Historic StrikeXi’s Missing Defense Chief Opens Door for US Military TalksEurope Is Better Prepared If Trump Wins Again, Germany’s Baerbock SaysMGM Resorts Hackers Broke In After Tricking IT Service DeskThese are some of the derivatives firms that collectively handle trillions of dollars a

“We don’t want to leave,” says Cboe CEO Ed Tilly. “But we cannot be in a position where we are disadvantaged.”

Chicago 's future as a finance hub is being threatened by $800m in new taxes that Mayor Brandon Johnson wants to impose.