President of CME Group Bryan T. Durkin to Step Down

CME Group, the operator of multiple exchanges, announced this week that it would be losing its President, Bryan T. Durkin, who will be stepping down from the role in May of this year and will instead become a special advisor to the Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term.

In his new role, Durkin will report to CME Group Chairman and Chief Executive Officer Terry Duffy. Furthermore, the statement which was released on Thursday revealed that the CME Group Board of Directors had recommended that Durkin be elected to the company's board at its annual meeting of shareholders in May 2020.

Commenting on the change, CME's CEO Duffy said in the statement: "As a long-standing champion of the futures industry, Bryan has been an integral part of our leadership team for more than a decade."

"He is well-respected by colleagues and clients alike and will continue to advance both the industry and our business in his new role as a member of the board and in his advisory role."

CME Group veteran

Durkin has been a veteran of the CME Group, having been with the company for 37 years. He started his career in 1982 as an investigator. During his career with CME, he has served as the Chief Commercial Officer and Chief Operating Officer.

In these roles, he was responsible for leading the company's global integrations following its merger with the Chicago Board of Trade (CBOT) in 2007 and, one year later, CME Group's acquisition of the New York Mercantile Exchange (NYMEX).

"I am profoundly proud to have served the clients and shareholders of CME Group through a period of tremendous growth," Durkin added. "I have been fortunate to play a role in the dynamic expansion of the global derivatives markets and the critical Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term role they play in every economy."

"It has been my great honor to work with our talented team of employees around the world, and I will continue to work with Terry, the board and our management team to advance our business objectives in this new capacity."