- Sean Tully to Retire in
June
CHICAGO, March 30,
2023 /PRNewswire/ -- CME Group, the world's
leading derivatives marketplace, today announced that it has
appointed Tim McCourt to serve in an
expanded role as Senior Managing Director, Global Head of Financial
& OTC Products, following the retirement of Sean Tully, Senior Managing Director, Interest
Rates and OTC Products, on June 2,
2023.
"We appreciate the leadership Sean provided over the past decade
for our financial products businesses, which included the
successful migration to SOFR derivatives that now serve as the
leading tool for hedging short-term interest rates," said CME Group
Chairman and Chief Executive Officer Terry
Duffy. "We are fortunate to have Tim
McCourt, who has extensive experience across financial
products, to lead these important business lines that allow our
clients to manage risk in key asset classes."
Prior to the new role, McCourt served as Global Head of Equity
& FX Products since February
2022, when he was promoted to the Management Team. Going
forward, he will oversee the company's interest rates, equity
index, foreign exchange and cryptocurrency futures and
options markets, as well as the company's BrokerTec cash treasuries
platform and EBS spot FX platform. McCourt joined CME Group in 2013
as Executive Director, Equity Index Products.
On March 13, CME Group
reported a record single-day trading volume of 66.2 million
contracts across its markets – including a record 41.9 million
interest rate contracts and a record 17.8 million equity index
contracts. The same day, a record 15.5 million SOFR futures were
traded, while a record 6.2 million SOFR options traded on
March 14.
About CME Group
As the world's leading derivatives marketplace, CME Group
(www.cmegroup.com) enables clients to trade futures, options, cash
and OTC markets, optimize portfolios, and analyze data – empowering
market participants worldwide to efficiently manage risk and
capture opportunities. CME Group exchanges offer the widest range
of global benchmark products across all major asset classes based
on interest rates, equity indexes, foreign
exchange, energy, agricultural
products and metals. The company offers futures and
options on futures trading through the CME Globex platform,
fixed income trading via BrokerTec and foreign exchange trading on
the EBS platform. In addition, it operates one of the world's
leading central counterparty clearing providers, CME Clearing.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange,
Globex, and, E-mini are trademarks of Chicago Mercantile Exchange
Inc. CBOT and Chicago 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. BrokerTec and EBS are trademarks of BrokerTec Europe
LTD and EBS Group LTD, respectively. The S&P 500 Index is a
product of S&P Dow Jones Indices LLC ("S&P DJI").
"S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are
trademarks of Standard & Poor's Financial Services LLC; Dow
Jones®, DJIA® and Dow Jones Industrial Average are service and/or
trademarks of Dow Jones Trademark Holdings LLC. These trademarks
have been licensed for use by Chicago Mercantile Exchange Inc.
Futures contracts based on the S&P 500 Index are not sponsored,
endorsed, marketed, or promoted by S&P DJI, and S&P DJI
makes no representation regarding the advisability of investing in
such products. All other trademarks are the property of their
respective owners.
CME-G
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SOURCE CME Group