Eric Frait is Vice President of Business Analysis for CBOE. In this role, he is responsible for conducting
ongoing strategic and competitive analysis, identifying and monitoring key industry and competitive
trends, coordinating business development initiatives and exchange pricing, and oversight of special
initiatives such as Options Extended Trading Hours (ETH). He manages CBOE's Statistical Analysis
and Trading Permit Holder Administration Departments, and works in close coordination with Global
Client Services and Trading Systems Development to maximize the position of the CBOE Holdings’
Frait joined CBOE in 1996 as an Investigator in the Regulatory Division, and in 1998, left his position as
a Senior Investigator to join The Options Institute, the educational arm of the CBOE, as a Senior
Instructor, where he taught options fundamentals and strategy to retail and institutional investors. In
2000, he was named Director of Strategic Planning, was named a Vice President in 2004, and has been
in his current role since 2013.
Frait began his career in the industry working in the Futures and Securities Division of Harris Bank in
1994. In 1995, he moved to Hull Trading Company, LLC, where he was an Assistant Trader on the
Chicago Mercantile Exchange, Chicago Board of Trade and CBOE trading floors.
Frait has a Bachelor of Arts degree in Political Science and Russian Studies from the University of Iowa
and an MBA with honors from Loyola University Chicago with specializations in Finance, Economics
and Financial Derivatives. He resides in Naperville, Illinois.