The Chicago Mercantile Exchange (CME) Group, a leading United States derivatives
exchange
Exchange
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading.
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading.
Read this Term, has announced changes today to its management team structure as part of efforts to position the firm for long-term success.
According to the announcement, Sunil Cutinho, who previously led the CME Clearing business and served in various technology roles since joining the firm in 2002, has been named Chief Information Officer. Cutinho is expected to oversee the company’s enterprise technology and will replace Kevin Kometer who is set to retire mid-year.
Julie Holzrichter, who has been serving as Chief Operating Officer since 2014, has been given an expanded role to oversee both global operations and the CME Clearing business.
CME has promoted Suzanne Sprague to Senior Managing Director and Global Head of Clearing & Post-Trade Services. Sprague has served as Managing Director, Credit, Collateral and in
Liquidity
Liquidity
Liquidity is at the core of every broker’s offering. It is a basic characteristic of every financial asset – be it a currency, stock, bond, commodity or real estate. The more liquid an asset is, the easier it is to sell and buy on the open market. Foreign exchange is considered to be the most liquid asset class.Brokers can source liquidity from a single or multiple source, thereby delivering to their clients enough market depth for their orders to get filled. The main characteristic of liquidity is its depth, which will determine how quickly and how big of an order can be executed via the trading platform.Understanding LiquidityLiquidity can be internal or external depending on the size and the book of the broker. Companies which are large enough and have material client flows consistently are creating their own liquidity pools from the order flow of their clients, thereby internalizing flows and saving on costs to send customer orders to the interbank market. By doing that however they are exposing themselves to carry the risk on the trade.Liquidity providers can be prime brokers, prime of primes, other brokers or the broker’s book itself. Traditionally brokers are split between internalizing flows and offloading trades of their clients to different liquidity providers.Generally, retail brokers and their clients prefer more liquid assets which lead to better fill rates and less slippage. When there is lack of liquidity on a certain market, slippage can occur – the order is executed at a price which is the closest available to the one requested by the client.
Liquidity is at the core of every broker’s offering. It is a basic characteristic of every financial asset – be it a currency, stock, bond, commodity or real estate. The more liquid an asset is, the easier it is to sell and buy on the open market. Foreign exchange is considered to be the most liquid asset class.Brokers can source liquidity from a single or multiple source, thereby delivering to their clients enough market depth for their orders to get filled. The main characteristic of liquidity is its depth, which will determine how quickly and how big of an order can be executed via the trading platform.Understanding LiquidityLiquidity can be internal or external depending on the size and the book of the broker. Companies which are large enough and have material client flows consistently are creating their own liquidity pools from the order flow of their clients, thereby internalizing flows and saving on costs to send customer orders to the interbank market. By doing that however they are exposing themselves to carry the risk on the trade.Liquidity providers can be prime brokers, prime of primes, other brokers or the broker’s book itself. Traditionally brokers are split between internalizing flows and offloading trades of their clients to different liquidity providers.Generally, retail brokers and their clients prefer more liquid assets which lead to better fill rates and less slippage. When there is lack of liquidity on a certain market, slippage can occur – the order is executed at a price which is the closest available to the one requested by the client.
Read this Term Risk and Banking for CME Clearing since 2015.
Sean Tully will continue to lead the company’s interest rates business, serving as Senior Managing Director and Global Head of Rates & OTC Products.
The company promoted Tim McCourt to Senior Managing Director and Global Head of Equity and FX Products. He has led the company’s equity and alternative investment business since joining the firm in 2013.
Additionally, CME announced that John Pietrowicz, the company’s Chief Financial Officer will retire in 2023. The firm has, therefore, promoted Lynne Fitzpatrick to Deputy Chief Financial Officer and will succeed Pietrowicz upon his retirement. Fitzpatrick has served as Managing Director and Treasurer & Head of Corporate Development since 2017.
The company finally stated that the General Counsel & Corporate Secretary, Kathleen Cronin, the Chief Commercial Officer, Julie Winkler, the Chief Transformation Officer, Ken Vroman, the Chief Human Resources Officer, Hilda Harris Piell, as well as the Global Head of Commodities, Options and International Markets, Derek Sammann, will continue serving on the management team.
Terry Duffy, the Chairman and Chief Executive Officer at CME Group, said: “CME Group has a proven history of evolving our business to meet changing market demands and opportunities. This is an exciting and dynamic time for financial markets. We are fortunate to have built a strong leadership team, each person with a track record of working successfully across our company. As we continue to transform our business, we are restructuring our management team to further sharpen our focus and enhance our ability to achieve our strategic priorities for our clients, shareholders and employees.”
Helping Investors Access New Capital Markets
The new appointments will help CME continue to accelerate technological innovation in capital markets infrastructure. Established in 2007, the firm strives to bring new products and services to market faster in order to create a wide range of opportunities for users.
Last month, CME launched futures on 20-year US Treasury bonds to help boost demand for maturity by providing investors with an easier way to hedge the debt or to speculate on the futures yield moves.
In September last year, CME and IHS Markit integrated their post-trade services to provide clients with enhanced post-trade solutions for the global OTC markets across interest rates, FX, equity and credit asset classes.
In February last year, CME launched Ethereum futures contracts to bring another level of diversification to crypto traders. While several institutions have invested heavily in Bitcoin in recent years, Ethereum derivatives are now available in the market.
The Chicago Mercantile Exchange (CME) Group, a leading United States derivatives
exchange
Exchange
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading.
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading.
Read this Term, has announced changes today to its management team structure as part of efforts to position the firm for long-term success.
According to the announcement, Sunil Cutinho, who previously led the CME Clearing business and served in various technology roles since joining the firm in 2002, has been named Chief Information Officer. Cutinho is expected to oversee the company’s enterprise technology and will replace Kevin Kometer who is set to retire mid-year.
Julie Holzrichter, who has been serving as Chief Operating Officer since 2014, has been given an expanded role to oversee both global operations and the CME Clearing business.
CME has promoted Suzanne Sprague to Senior Managing Director and Global Head of Clearing & Post-Trade Services. Sprague has served as Managing Director, Credit, Collateral and in
Liquidity
Liquidity
Liquidity is at the core of every broker’s offering. It is a basic characteristic of every financial asset – be it a currency, stock, bond, commodity or real estate. The more liquid an asset is, the easier it is to sell and buy on the open market. Foreign exchange is considered to be the most liquid asset class.Brokers can source liquidity from a single or multiple source, thereby delivering to their clients enough market depth for their orders to get filled. The main characteristic of liquidity is its depth, which will determine how quickly and how big of an order can be executed via the trading platform.Understanding LiquidityLiquidity can be internal or external depending on the size and the book of the broker. Companies which are large enough and have material client flows consistently are creating their own liquidity pools from the order flow of their clients, thereby internalizing flows and saving on costs to send customer orders to the interbank market. By doing that however they are exposing themselves to carry the risk on the trade.Liquidity providers can be prime brokers, prime of primes, other brokers or the broker’s book itself. Traditionally brokers are split between internalizing flows and offloading trades of their clients to different liquidity providers.Generally, retail brokers and their clients prefer more liquid assets which lead to better fill rates and less slippage. When there is lack of liquidity on a certain market, slippage can occur – the order is executed at a price which is the closest available to the one requested by the client.
Liquidity is at the core of every broker’s offering. It is a basic characteristic of every financial asset – be it a currency, stock, bond, commodity or real estate. The more liquid an asset is, the easier it is to sell and buy on the open market. Foreign exchange is considered to be the most liquid asset class.Brokers can source liquidity from a single or multiple source, thereby delivering to their clients enough market depth for their orders to get filled. The main characteristic of liquidity is its depth, which will determine how quickly and how big of an order can be executed via the trading platform.Understanding LiquidityLiquidity can be internal or external depending on the size and the book of the broker. Companies which are large enough and have material client flows consistently are creating their own liquidity pools from the order flow of their clients, thereby internalizing flows and saving on costs to send customer orders to the interbank market. By doing that however they are exposing themselves to carry the risk on the trade.Liquidity providers can be prime brokers, prime of primes, other brokers or the broker’s book itself. Traditionally brokers are split between internalizing flows and offloading trades of their clients to different liquidity providers.Generally, retail brokers and their clients prefer more liquid assets which lead to better fill rates and less slippage. When there is lack of liquidity on a certain market, slippage can occur – the order is executed at a price which is the closest available to the one requested by the client.
Read this Term Risk and Banking for CME Clearing since 2015.
Sean Tully will continue to lead the company’s interest rates business, serving as Senior Managing Director and Global Head of Rates & OTC Products.
The company promoted Tim McCourt to Senior Managing Director and Global Head of Equity and FX Products. He has led the company’s equity and alternative investment business since joining the firm in 2013.
Additionally, CME announced that John Pietrowicz, the company’s Chief Financial Officer will retire in 2023. The firm has, therefore, promoted Lynne Fitzpatrick to Deputy Chief Financial Officer and will succeed Pietrowicz upon his retirement. Fitzpatrick has served as Managing Director and Treasurer & Head of Corporate Development since 2017.
The company finally stated that the General Counsel & Corporate Secretary, Kathleen Cronin, the Chief Commercial Officer, Julie Winkler, the Chief Transformation Officer, Ken Vroman, the Chief Human Resources Officer, Hilda Harris Piell, as well as the Global Head of Commodities, Options and International Markets, Derek Sammann, will continue serving on the management team.
Terry Duffy, the Chairman and Chief Executive Officer at CME Group, said: “CME Group has a proven history of evolving our business to meet changing market demands and opportunities. This is an exciting and dynamic time for financial markets. We are fortunate to have built a strong leadership team, each person with a track record of working successfully across our company. As we continue to transform our business, we are restructuring our management team to further sharpen our focus and enhance our ability to achieve our strategic priorities for our clients, shareholders and employees.”
Helping Investors Access New Capital Markets
The new appointments will help CME continue to accelerate technological innovation in capital markets infrastructure. Established in 2007, the firm strives to bring new products and services to market faster in order to create a wide range of opportunities for users.
Last month, CME launched futures on 20-year US Treasury bonds to help boost demand for maturity by providing investors with an easier way to hedge the debt or to speculate on the futures yield moves.
In September last year, CME and IHS Markit integrated their post-trade services to provide clients with enhanced post-trade solutions for the global OTC markets across interest rates, FX, equity and credit asset classes.
In February last year, CME launched Ethereum futures contracts to bring another level of diversification to crypto traders. While several institutions have invested heavily in Bitcoin in recent years, Ethereum derivatives are now available in the market.
Source: https://www.financemagnates.com/executives/cme-group-announces-changes-in-the-executive-management-team/