CHICAGO, Jan. 27, 2016 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, today
announced the appointment of two new members to its Competitive
Markets Advisory Council (CMAC). These new members are Lars Hansen, David Rockefeller Distinguished
Service Professor of Economics at the University of Chicago and 2013 recipient of the
Nobel Prize in Economics; and Randall
Kroszner, former member of the Board of Governors of the
U.S. Federal Reserve system and Norman R. Bobins Professor of
Economics at the University of Chicago
Booth School of Business.
CMAC was established in March 2004
by Nobel Laureates Myron Scholes and Gary
Becker in partnership with CME Group Chairman Emeritus
Leo Melamed. The Council consists of
financial experts, including Nobel Prize winners, who serve as a
"think tank" to develop and provide advice to the CME Board in the
form of policy, analysis, position papers and other strategic
recommendations on significant market issues. Notably, CMAC plays
an integral leadership role within the CME Group Center for
Innovation by selecting the annual recipients of the CME Group
Melamed-Arditti Innovation Award and the CME Group-MSRI Prize in
Innovative Quantitative Applications.
"I am pleased to be joining the Competitive Markets Advisory
Council of the CME Group," said Hansen. "I am glad to be part of
such a distinguished group of economists and to participate in
important conversations about competition and financial
markets."
"It is an honor to join the CMAC and this impressive group of
economic thinkers," said Kroszner. "Promoting competition while
keeping the markets safe, sound and stable is a crucial balance,
and I'm looking forward to taking part in valuable discussions on
key issues."
"I am delighted that Dr. Hansen and Dr. Kroszner have agreed to
accept the nomination request to join as members of the CMAC," said
Leo Melamed, CME Group Chairman
Emeritus and CMAC Vice Chairman. "The addition of these
accomplished economic thought leaders will strengthen the CMAC's
success as indispensable resource for competitive market
issues."
"As a leader in global markets, CME Group created CMAC as a
forum that provides our Board with leading-edge insights from some
of the world's top economic experts," said CME Group Executive
Chairman and President Terry Duffy.
"We are pleased that these two influential leaders on global market
issues will be joining the Council."
Current CMAC Members are:
- John P. Gould, Steven G.
Rothmeier Distinguished Service Professor of Economics,
University of Chicago Booth School of
Business and Chairman of CMAC
- Andrew Lo, Charles E. and Susan
T. Harris Professor of Finance and Director of the Laboratory for
Financial Engineering, MIT
- Robert C. Merton, Nobel
Prize-Winning Economist and School of Management Distinguished
Professor of Finance, MIT
- Michael H. Moskow, Vice Chairman
and Senior Fellow for the Global Economy, The Chicago Council on
Global Affairs
- Myron Scholes, Nobel Laureate
and Frank E. Buck Professor of Finance, Emeritus, Stanford University
- Robert J. Shiller, Sterling
Professor of Economics, Yale University
and Chief Economist
Additionally, the following CME Group senior-level officials
also serve as members of CMAC:
- Terry Duffy, CME Group Executive
Chairman & President
- Phupinder Gill, CME Group Chief
Executive Officer
- Leo Melamed, CME Group Chairman
Emeritus and Vice Chairman of CMAC
- John F. Sandner, CME Group
Retired Chairman.
For additional information about CMAC, please visit
http://www.cmegroup.com/company/center-for-innovation/competitive-markets-advisory-council.html.
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) is where the world comes to manage
risk. CME Group exchanges offer the widest range of global
benchmark products across all major asset classes, including
futures and options based on interest rates, equity indexes,
foreign exchange, energy, agricultural commodities, metals, weather
and real estate. CME Group brings buyers and sellers together
through its CME Globex® electronic trading platform and
its trading facilities in New York
and Chicago. CME Group also
operates CME Clearing, one of the world's leading central
counterparty clearing providers, which offers clearing and
settlement services across asset classes for exchange-traded
contracts and over-the-counter derivatives transactions. These
products and services ensure that businesses everywhere can
substantially mitigate counterparty credit risk.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME,
Globex and Chicago Mercantile Exchange are trademarks of Chicago
Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the
Board of Trade of the City of
Chicago, Inc. NYMEX, New York Mercantile Exchange and
ClearPort are registered trademarks of New York Mercantile
Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc.
KCBOT, KCBT and Kansas City Board
of Trade are trademarks of The Board of Trade of Kansas City, Missouri, Inc. All other
trademarks are the property of their respective owners. Further
information about CME Group (NASDAQ: CME) and its products can be
found at www.cmegroup.com.
CME-G
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SOURCE CME Group