CME Group Names Roger Rutherford as Managing Director, Global Head of FX Products
LONDON and CHICAGO, Nov. 30, 2010 /PRNewswire-FirstCall/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced that it has named Roger Rutherford as Managing Director, Global Head of FX Products. With 24 years of experience in the global FX marketplace, Rutherford, 45, will be responsible for leading the company's global FX business line. He will be based in London and will report to Derek Sammann, Managing Director, FX and Interest Rate Products.
"As we continue to develop and diversify our business, it is key that our head of foreign exchange be located in London -- the epicenter of the global FX market," said Sammann. "FX continues to be our fastest growing business line during non-U.S. hours, and Roger's deep knowledge of the FX market will be a tremendous asset as we continue to execute our global growth strategy. We look forward to leveraging his expertise and relationships to enhance our listed products business as well as continuing to develop new OTC FX products and services to meet our clients' global trading and risk management needs. Additionally, having senior CME Group leadership in our regional offices underscores our commitment to expanding our global presence and best positions our businesses for continued global growth."
Before joining CME Group, Rutherford most recently served as Head of Product Management for CLS Services London, a provider of FX settlement services. He also had a 10-year career with EBS Dealing Resources, Inc., where he gained extensive global FX electronic trading experience. During his tenure at EBS, Rutherford held roles of increasing responsibility in product management, prime brokerage and sales. He also worked for Lasser Marshall Inc. Money Brokers in New York and MW Marshall Money Brokers in London. He holds a bachelor's degree in mechanical engineering from East London Technical College.
CME Group is the largest regulated FX marketplace in the world and offers an innovative global product suite of 49 futures and 31 options contracts. CME FX volume has averaged approximately 928,000 contracts per day to date in 2010, up 49 percent versus 2009 and reflecting average daily notional value of $120 billion. CME FX options also continue to experience significant growth, with 2010 average daily volume up more than 140 percent versus 2009. Europe and Asia continue to provide the highest growth rates in FX products, and now represent 35 percent of 2010 average daily volume, the highest global penetration rate across all CME Group business lines.
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 largest central counterparty clearing services in the world, which provides clearing and settlement services for exchange-traded contracts, as well as for over-the-counter derivatives transactions through CME ClearPort®. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk in both listed and over-the-counter derivatives markets.
The Globe logo, CME, Chicago Mercantile Exchange, CME Group, Globex, E-mini and CME ClearPort 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 and New York Mercantile Exchange 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 (Nasdaq: CME) and its products can be found at www.cmegroup.com.
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SOURCE CME Group
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