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From Chef to Options Industry Leader: Get to Know Meaghan Dugan
From her days in culinary school to options market making, Meaghan Dugan, now Senior Vice President, Head of U.S. Options, has always let her curiosity drive her actions.
Read MoreFrom her days in culinary school to options market making, Meaghan Dugan, now Senior Vice President, Head of U.S. Options, has always let her curiosity drive her actions.
Meaghan’s career started off in culinary science as she pursued dreams of becoming a chef. While she was in California looking for culinary work, a friend who worked on the Pacific Stock Exchange’s options trading floor suggested she explore an entry level position on the floor. Meaghan went to visit as both trading floors and tense kitchens have similar qualities. Plus, the Exchange often recruited people with a background in culinary arts.
“I went over to the Pacific Stock Exchange’s trading floor and saw 500 guys screaming and running,” Meaghan says. “I thought to myself, this is just like a kitchen!”
Meaghan was immediately fascinated by the financial markets and the environment on the trading floor. Her curiosity continued to take her in new directions and she began trading on her own for a market maker, spending two years immersed in on-the-floor trading. As more electronic and systematic trading continued to rise, Meaghan moved into an Automated Market Making group as a Specialist. In 2006, Meaghan moved to New York starting with a new role on the Single Stock Trading desk, something she enjoyed as it complemented her market-making background. Eventually she decided to move into client-facing roles in Electronic Trading and Algorithm Product Management where she spent over 10 years. With each new role, Meaghan saw an opportunity to learn.
“The wonderful thing about the financial services industry is that you are always learning,” Meaghan says. “No matter how many years you are in this business, you will always learn something new as the market is constantly changing, and that excites me.”
Looking back, Meaghan says her beginnings in the culinary world helped prepare her for a lively career in options trading. Although completely different areas of expertise and industries, there are similar foundational skills chefs have that translate to the financial industry. Time management, strategic thinking and communication skills are crucial to success on the trading floor when markets are always moving, volatility is rising and you need to make a trade.
“There are many skills I carried over from my time in the culinary world,” Meaghan says. “You have to work hard, think on your feet, have strong attention to detail and always be ready for change.”
Now, Meaghan is excited to lead U.S. Options, overseeing business strategy, competitive positioning, market structure and market development for the U.S. Options business. Meaghan is eager to build out Cboe’s multi-list business, proprietary products complex and continuing to build relationships with customers ultimately expanding derivatives access globally.
“We wouldn’t be anywhere without our customers,” Meaghan says. “I feel strongly about our ‘One Cboe’ mindset: the ability to deliver the entire Cboe platform to our clients and leveraging our world-class network to create unmatched relationships with our customers.”
Meaghan is equally passionate about growing the next generation of talent. In addition to her leadership of Cboe’s options business, she values mentoring individuals in their early career and providing them with tools to succeed in the workforce. Whether formally through Cboe’s mentorship program or informally, Meaghan is eager to be a helping hand to the next generation.
Outside of work, Meaghan spends every second she can with her two teenage sons and two dogs. She also loves road cycling to stay active and, of course, she keeps her love for cooking alive and well, still whipping up delicious dishes in the kitchen.
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