Naples, Fla. (PRWEB) January 12, 2009
Cataldo Capozza, an original member and shareholder of the 130 year old New York Mercantile Exchange (NYMEX), died at his home here on December 28, 2008, ending a courageous three-year battle with cancer at the age of 65.
It was a battle largely unknown to his colleagues at NYMEX, where he was simultaneously waging another vigorous, and highly-publicized, legal battle with NYMEX management. Capozza - in the role of activist -- worked tirelessly over the last decade to protect and advocate the equity interests of NYMEX seatholders as the Exchange moved into the era of electronic trading, undertook an IPO, and ultimately was sold to the Chicago Mercantile Exchange (CME).
In 2000, Capozza worked with Cambridge Technology Partners and former NYMEX Chairman Daniel Rappaport to establish the Exchange's first electronic trading system, known as E-NYMEX.
E-NYMEX was an important step in the transition to side-by-side trading which was strongly favored by NYMEX shareholders. "Side-by-side" trading combined traditional open out-cry floor trading with electronic trading.
Capozza is survived by his wife, Suzanne Capozza, his two sons: Seth of Naples, Florida and Brad of New York, his brother Joseph Capozza of Florida, and three grandchildren: Christian, Leeann, and John Cain of Naples.