Exhibit 99.1
News Release
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Media Contacts |
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Investor Contact |
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Laurie Bischel, 312.292.1937 |
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investors@cmegroup.com |
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news@cmegroup.com |
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CME-G |
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www.cmegroup.mediaroom.com |
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FOR IMMEDIATE RELEASE
CME Group Appoints Mike Dennis as Global Head of Fixed Income
CHICAGO, July 8, 2024 CME Group, the worlds leading derivatives marketplace, today announced the appointment of Mike Dennis
as Global Head, Fixed Income. In this position, Dennis will oversee the companys largest, most actively traded global benchmark futures and options contracts on SOFR and U.S. Treasuries, including the
30-year bond, 10-, 5- and 2-year notes that enable investors to manage risk across the
entire U.S. yield curve. He will also lead BrokerTec, the worlds most liquid electronic cash trading platform for U.S Treasury benchmarks, E.U., U.K. and U.S. Repo trading. Dennis will report to CME Group Chairman and Chief Executive Officer
Terry Duffy and serve on the companys Management Team. He will resign from the CME Group Board of Directors effective immediately and begin this position with the company on August 5.
Tim McCourt will lead all the companys other financial business lines including equity indexes, foreign exchange and cryptocurrency
futures and options, as well as its EBS spot FX platform, as Global Head, Equities, FX, and Alternative Products. He will continue to serve on the companys Management Team reporting to Duffy.
We are extremely pleased to add the expertise of Mike Dennis, a long-time industry professional, to our leadership team to oversee our
significant and growing interest rates business, which increased 14% in Q2, said Duffy. As a former trader himself, Mikes deep trading, clearing and prime brokerage knowledge, as well as his
hands-on markets experience, will bring a unique perspective to this role that will benefit our clients and our organization.
At the same time, we will continue to rely on Tims oversight of our other financial asset classes including equities, FX and
crypto as those markets continue to expand to new users around the globe.
With 22 years of interest rate trading experience, Dennis
joins CME Group from ABN AMRO Clearing USA LLC, where he served as Principal, member of the Management Team, and Chief Commercial Officer of ABN AMRO Clearing in the U.S., one of CME Groups largest global futures clearing firms, since 2018.
During his tenure at ABN AMRO, Dennis was instrumental in helping the firm launch a fixed income clearing and repo initiative for cash Treasuries as a member of the Fixed Income Clearing Corporation (FICC). Prior to that, Dennis was Director of
Prime Brokerage and Clearing Services at Societe Generale. He also worked in clearing at Advantage Futures, served as an interest rate trader at Peak 6 Investments and acted as a market-maker in back-month Eurodollar futures and cash Treasuries for
a proprietary trading firm in CME open outcry and electronic markets in the early 2000s. Dennis began his career in 2002 in the Corporate Investment Banking Division of JP Morgan Chase Chicago. Additionally, he has served on several market oversight
committees as a member and former member of the CME and CBOT exchanges, respectively.