CME Group Names Michael O'Connell as Managing Director, Clearing Business

by Chicago Mercantile Exchange 19 Nov 15:31

CHICAGO, Nov. 19 /PRNewswire-FirstCall/ — CME Group, the world’s largest
and most diverse derivatives exchange, today announced that it has named
Michael O’Connell as Managing Director, Clearing Business Development.
O’Connell will be responsible for developing CME Clearing products and
services. He will report to Kim Taylor, Managing Director and President, CME
Clearing.

“Michael’s deep knowledge of financial markets will be a tremendous asset to
CME Group as we work to extend our centralized clearing capability and the
safety and soundness we deliver to the global marketplace,” said Kim Taylor,
Managing Director and President, CME Clearing. “CME Clearing leads the
industry in providing customers with the security they need to operate in
today’s challenging market conditions. We look forward to applying Michael’s
expertise as we continue to provide our customers with transparent, liquid
markets for risk management.”

O’Connell, 48, who has more than 20 years of experience in the global
derivatives industry, joins CME Group from Northern Trust Corporation, where
he most recently served as Senior Vice President within Corporate &
Institutional Services, and was part of its Global Consulting team. Prior to
Northern Trust, O’Connell was Managing Director, Head of Equity Derivative
Trading/Risk at Bank One NA. His background also includes trading and
trading management roles at the Chicago Board Options Exchange, D.E. Shaw &
Co and Hull Trading Company, respectively.

O’Connell earned his bachelor’s degree in biology and physics from Lawrence
University, and is a Series 7 and 63 registered representative.

CME Clearing is the world’s largest derivatives clearing organization,
processing more than two billion contracts a year. By acting as the
counterparty to every trade, CME Clearing virtually eliminates counterparty
risk, meaning that for every trade completed on the exchange, CME Clearing
guarantees the financial soundness of both parties. CME Clearing leads the
industry in providing a comprehensive set of risk management services that
provides market participants with the confidence they need to operate, invest
and grow. To learn more about CME Clearing, please visit
http://www.cmegroup.com/clearing/cme-clearing-overview/index.html.

CME Group (http://www.cmegroup.com/) is the world’s largest and most diverse
derivatives exchange. Building on the heritage of CME, CBOT and NYMEX, CME
Group serves the risk management needs of customers around the globe. As an
international marketplace, CME Group brings buyers and sellers together on
the CME Globex electronic trading platform and on trading floors in Chicago
and New York. By acting as the buyer to every seller and the seller to every
buyer, CME Clearing virtually eliminates counterparty credit risk. CME
Clearing also offers $7 billion in financial safeguards to help mitigate
systemic risk, providing the security and confidence market participants need
to operate, invest and grow. CME Group offers the widest range of benchmark
products available across all major asset classes, including futures and
options based on interest rates, equity indexes, foreign exchange, energy,
agricultural commodities, metals, and alternative investment products such as
weather and real estate. CME Group is listed on NASDAQ under the symbol
“CME”.

The Globe logo, CME, Chicago Mercantile Exchange, CME Group, Globex and
E-mini, are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago
Board of Trade are trademarks of the Board of Trade of the City of Chicago.
NYMEX, New York Mercantile Exchange, and ClearPort are trademarks of New York
Mercantile Exchange. Inc. COMEX is a trademark of Commodity Exchange, Inc.
All other trademarks are the property of their respective owners. Further
information about CME Group and its products can be found at
http://www.cmegroup.com/.

CME-G

SOURCE: CME Group

CONTACT: Media, Allan Schoenberg, +1-312-930-8189, or Laurie Bischel,
+1-312-648-8698, news@cmegroup.com, or Investors, John Peschier,
+1-312-930-8491, all of CME Group

Web site: http://www.cmegroup.com/