Kraken Hires IEX Product Head John Palmer to Lead Global Derivatives

US crypto exchange Kraken has appointed John Palmer as its new Global Head of Derivatives, bringing in a seasoned exchange executive with deep roots in the US options and futures markets.

Palmer joins Kraken from IEX, where he spent the past year and a half helping shape the firm’s expansion into options. He initially came on board as Head of Options in mid-2024 and was later promoted to Head of Cross-Asset Product. During his time there, he supported development work around IEX’s planned options exchange launch, expected in 2026.

Before IEX, Palmer built much of his career at Cboe Global Markets, holding several senior roles across two separate stints. Most recently, he served as President of Cboe Digital and SVP of US Derivatives Market Development. Earlier positions included Head of Options and leadership roles in multi-listed options and product strategy.

He also spent time as Global Head of Product Strategy at CrossTower, and earlier in his career held product and market structure roles at ISE Holdings, Orc Software (now part of Broadridge), and Goldman Sachs.

With Palmer now leading derivatives globally, Kraken is adding traditional market structure and exchange expertise as it continues to scale its regulated and institutional derivatives offering.