Who we are
Elliot Lapan began his career as a molecular biologist. He received a PhD from Yale University and some years later, after being invited to consult on an options pricing model, rechanneled his interests. He joined the CBOE in 1979 and the Chicago Board of Trade in 1980. He joined the Hanley Group as a partner in 1990 and in 1992 he started his own group, Terra Options. In 1996, Elliot brought his indispensable assistant, Mike Furness and the rest of his options team into TransMarket Group. Elliot signed on as head of options and futures trading and eventually became a minority partner, Executive Vice President, and head of trading. Elliot is the President of LFK Group.
Pierre Lapan received a Bachelor of Arts in Psychology and Finance from the University of Arizona. In 1996, he was hired as a grain options clerk for TransMarket Group’s option team. In 2003, he was promoted to fixed income trader. During the last decade, Pierre has successfully engaged in trading international equity indices and agricultural derivatives, which have become his primary focus at LFK Group. In addition to developing new trades in new markets, Pierre is a diversified trader and actively manages operations including IT and clearing relationships for LFK Group.
Mike Furness joined Elliot Lapan at Terra Options at its onset and helped him build and operate a group of options traders. Mike was Terra’s principle trader in corn options and, with the arrival of electronic trading, moved away from the grains to master the equity index arbitrage between floor and screen. As technology began to rapidly evolve, Mike left the floor to move “upstairs” and excelled as an equity index trader. Mike has a long-history of proven industry expertise and has mentored many successful traders. At LFK Group, not only is Mike an accomplished trader, he is also the IT expert and actively manages the financial and trading sides of the business.
Joel Kelderman has a Bachelor of Arts in Economics from Calvin College and has passed exams required by the Society of Actuaries. Joel had previously been an equity index trader at TransMarket Group when he was promoted to be Elliot Lapan’s assistant manager in 2003. Given his actuarial background, he was assigned a role of risk manager until deemed more valuable as a trader and analyst. Joel contributed significantly to the development of valuation models for equity indices and he successfully traded the indices using those models. In addition to trading, Joel is the CFO, the principle quantitative analyst, and actively manages vendor and exchange relationships for LFK Group.