CHICAGO, March 9, 2017 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, today
announced the appointment of a new member to its Competitive
Markets Advisory Council (CMAC), Jacob
Frenkel, Chairman of the Board of Trustees for the Group of
Thirty (G-30), a private, nonprofit, international body comprised
of financial industry leaders; as well as Chairman of the Board of
Governors of Tel Aviv University and
Chairman of JPMorgan Chase International.
Frenkel also served as Chairman and CEO of the G-30 from
2001-2011, as Vice Chairman of American International Group, Inc.
from 2004-2009, and as Chairman of Merrill Lynch International from
2000-2004. Previously, he served two terms as Governor of the Bank
of Israel from 1991-2000. Prior to
this, he was the Economic Counselor and Director of Research at the
International Monetary Fund, and the David Rockefeller Professor of
International Economics at the University of
Chicago. He is the recipient of the 2002 Israel Prize in
Economics, among numerous other distinctions.
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 join this group of my former University of
Chicago Colleagues and other distinguished economists at the
Competitive Markets Advisory Council of the CME Group," said
Frenkel.
"I am delighted that Dr. Frenkel has accepted our nomination to
become a member of the CMAC," said Leo
Melamed, CME Group Chairman Emeritus and CMAC Vice Chairman.
"The addition of this accomplished economic thought leader will
strengthen the Council's commitment to fostering innovation and
dialogue on issues that impact the global markets."
"The CMAC provides our Board with groundbreaking insights and
cutting-edge analysis from some of the world's top economic thought
leaders," said CME Group Chairman and Chief Executive Officer
Terry Duffy. "We are honored that
Dr. Frenkel, an influential expert on global market issues, will be
joining the Council."
Current CMAC Members are:
- John P. Gould, CMAC Chairman and
Steven G. Rothmeier Distinguished Service Professor of Economics,
University of Chicago Booth School of
Business
- Leo Melamed, CMAC Vice Chairman
and Chairman Emeritus, CME Group
- Lars Peter Hansen, David
Rockefeller Distinguished Service Professor of Economics and
Statistics, University of Chicago and
Nobel Laureate in Economic Sciences (2013)
- Andrew Lo, Charles E. and Susan
T. Harris Professor of Finance and Director of the Laboratory for
Financial Engineering, MIT Sloan School of
Management
- Robert C. Merton, School of
Management Distinguished Professor of Finance, MIT Sloan School of Management and Nobel Laureate
in Economic Sciences (1997)
- Michael H. Moskow, Vice Chairman
and Senior Fellow for the Global Economy, The Chicago Council on
Global Affairs
- Myron Scholes, Frank E. Buck
Professor of Finance, Emeritus, Stanford
University Graduate School of Business and Nobel Laureate in
Economic Sciences (1997)
- Robert J. Shiller, Sterling
Professor of Economics, Yale University
and Nobel Laureate in Economic Sciences (2013)
Additionally, the following CME Group senior executives also
serve as members of CMAC:
- Terry Duffy, CME Group Chairman
and Chief Executive Officer
- Bryan Durkin, CME Group
President
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. Through its exchanges, CME Group offers 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 products and
metals. CME Group provides electronic trading globally on its
CME Globex platform. The company also offers clearing
and settlement services across asset classes for exchange-traded
and over-the-counter derivatives through its clearinghouses CME
Clearing and CME Clearing Europe. CME Group's products and
services ensure that businesses around the world can effectively
manage risk and achieve growth.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange,
Globex and E-mini are trademarks of Chicago Mercantile Exchange
Inc. CBOT, Chicago Board of
Trade, KCBT and Kansas City Board
of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York
Mercantile Exchange and ClearPort are trademarks of New York
Mercantile Exchange, Inc. COMEX is a trademark of Commodity
Exchange, Inc. Dow Jones, Dow Jones Industrial Average,
S&P 500 and S&P are service and/or trademarks of Dow Jones
Trademark Holdings LLC, Standard & Poor's Financial Services
LLC and S&P/Dow Jones Indices LLC, as the case may be, and have
been licensed for use by Chicago Mercantile Exchange Inc. All
other trademarks are the property of their respective
owners.
CME-G
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/jacob-frenkel-appointed-to-cme-groups-competitive-markets-advisory-council-300421580.html
SOURCE CME Group