CME Europe is a London-based derivatives exchange providing regionally tailored access to new, differentiated products, while leveraging the global scale and reach of CME Group. A wholly owned subsidiary of CME Group with its own dedicated Board of Directors and management team, CME Europe offers new, more applicable regional risk management opportunities combined with the potential for meaningful operational and capital efficiencies.
Customers can choose between a range of connectivity options to CME Europe as well as use CME Group's own free trading screen, CME Direct. Once connected they can choose between trading the initial range of FX and commodities futures on CME Globex or submitting block or EFPS trades via CME ClearPort for clearing. Clearing services are provided by CME Clearing Europe, our established London-based clearing house regulated by the Bank of England.
CME Europe Ltd management endeavoured to nominate a Board of Directors that can guide and assist the Exchange to a best practice standard in all areas - commercial, regulatory, financial and leadership.
A well regarded QC in the top flight of financial services practitioners and with previous experience in the public service, including Parliament, in City regulation and in the commercial world, Michael Blair has served at the top of his profession for many years. This time has included titles such as the Treasurer of the Bar Council and Master Treasurer of his Inn of Court. In addition to this he has judicial and disciplinary experience.
Currently Blair is self-employed as a specialist on financial services and financial services regulation. He joined 3 Verulam Buildings, Gray’s Inn, in 2000 after serving as General Counsel to the Board of the Financial Services Authority, and prior to that as head of the legal function in its predecessor body, as well as the Securities and Investments Board for 10 years.
He is listed in Chambers & Partners as a leader in the field of Financial Services, being, “highly valued by clients for his insights into the workings of the FSA. His broad-based financial services practice means that he is in demand by those who view him as a high-powered player in the field.”
Bryan T. Durkin has served as Chief Commercial Officer (CCO) of CME Group since 2014. He is responsible for ensuring that the company delivers the best possible customer experience to maximise satisfaction and retention, while reaching new and evolving markets with core and new product and service offerings to increase growth and profitability. As CCO, Durkin leads the Global Client Service and Development Division, which includes the company's International Offices, Client Development and Sales, Business Development, Co-location and Technology Services, Information Products, Index Services, Marketing, Research and Product Development. He also is President of GFX Corp., a wholly owned subsidiary of CME Group that provides liquidity in foreign exchange futures. Durkin previously served as Chief Operating Officer since 2007.
As part of his responsibilities, he led the global integrations following CME's merger with the Chicago Board of Trade (CBOT) in 2007 and CME Group's acquisition of the New York Mercantile Exchange (NYMEX) in 2008. Before joining CME Group, Durkin served as Executive Vice President and Chief Operating Officer of the CBOT. Prior to that role, he was in charge of the CBOT's Office of Investigations and Audits where he oversaw the audits, financial surveillance, trade practice and market surveillance self-regulatory and enforcement divisions for the exchange. His career with both CME Group and CBOT spans more than 30 years.
Durkin serves on the Board of Directors of Bursa Malaysia Derivatives Berhad. He is a member of the COMEX Governors Committee and the Commodity Futures Trading Commission (CFTC) Technology Advisory Committee. He also serves on the Board of Directors of the CME Group Community Foundation and the Board of Advisors of Misericordia.
Mark Goodliffe is currently Chief Financial Officer at REA Holdings plc where he is responsible for all accounting and controls for a plantation group (oil palms in Indonesia) with full Stock Exchange listing.
Previously he served as Chief Financial Officer at Penson Financial Services Ltd, Group Financial Controller at London Stock Exchange Group plc, Director of Finance at LIFFE, (latterly taken over by Euronext NV), and as Finance Director at IG Index plc. He also held positions at Credit Agricole Futures, (latterly merged into Carr Futures), as well as at Kidder, Peabody, Morgan Stanley and Stoy Hayward. Goodliffe graduated from University College London with a first-class BA Honours degree in Linguistics. He is also a chartered accountant (ICAEW), a six-time Times Crossword Champion and occasional club cricketer.
He is also the Chairman of the CME Europe Limited Audit and Risk Committee.
Cees Vermaas has served as Managing Director and CEO of CME Europe Limited, CME Group's European-based derivatives exchange, since January 2015. He is responsible for the ongoing build-out of CME Europe to meet the needs of customers in the European marketplace, following the exchange's initial launch in April 2014.
Prior to joining CME Group, Vermaas served as CEO of NYSE Euronext Amsterdam and as a member of the Management Committee of NYSE Euronext, with global responsibility for international business development for cash and listings. Prior to that, he served as Executive Vice President, Head of European Cash Markets, where he was responsible for NYSE Euronext's European cash trading business, including equities, fixed income, operations, projects and business development. He originally joined Euronext in 2002 as Director Cash Market Netherlands before being promoted to Executive Director Sales and Marketing, Cash Market. His background also includes a decade working in IT and commercial roles at leading Dutch and international companies.
Vermaas holds a degree in business engineering from the Rijswijk University of Technical Education in The Netherlands. He serves on the Board of Directors of the Confederation of Netherlands Industry and Employers and the American Chamber of Commerce of the Netherlands. He also Ambassador of the War Trauma Foundation.
Dr. Menzel has strong executive experience as CEO of the European Energy Exchange (EEX), as well as CEO of the ECC clearing house. In this role, he built a fully regulated and commercially successful leading energy marketplace, world-market leader in electricity products. He has sat on multiple market industry committees and supervisory boards, and has in depth knowledge of OTC and exchange traded products and market participants.
He has a strong track record on the theory and practice of markets, including active risk assessment and management, the development and introduction of risk management software, and post-trade handling with some of the leading industrial corporations and banks world-wide. Menzel has won awards as an exchange leader, and has a proven reputation as a thought-leader on market structure and regulation. The management team looks to him for strategic exchange leadership guidance, as well as best-practice standards for building new marketplaces, and commercial links to continental Europe.
James Oliff has served as a member of the CME Group board of directors since 1994 and has been a member of CME for more than 30 years. He served as CME Group's Vice Chairman from 2002 until 2007 and as CME Group's Second Vice Chairman from 1998 until 2002. He previously served on the CME Group Board from 1982 to 1992.
Oliff was the President of FILO Corp., a floor brokerage business from 1982 and previously held the position of Executive Director of International Futures and Options Associates for 9 years as well as several other senior leadership positions.
In other roles, he acted as President at LST Commodities, LLC, an introducing broker, from 1999 until 2002 and previously served as a member of the Board of FFastFill, plc and the advisory Board for the MS Program in Financial Engineering at Kent State University. He also currently sits on the advisory Board of The Review of Futures Markets.
Simon Raybould brings to the board of CME Europe, 35 years' experience in the financial sector, including 20 years at the MD/CEO level. He has worked in European, Asian and North American markets, and has led bank ETD desks, FCM businesses, and also worked with LIFFE as MD Sales&Marketing. His integrity and reputation in the global futures markets are solid and thorough.
Raybould has worked with and achieved recognition from multiple regulatory bodies, including SFC in Hong Kong, HKEX, Eurex Working Clearing Working Group, SIMEX,FIA, SFA and the UK Securities Institute. He has a vast network of contacts in the derivatives community in London, continental Europe, Asia and America. He has entrepreneurial experience, including establishing a full brokerage in Hong Kong for MF Global in Asia.
He is also a member of CME Europe's Audit and Risk Committee.
Derek Sammann has served as CME Group's Senior Managing Director, Commodities and Options Products since 2014. He is responsible for leading the development, execution and management of CME Group's global commodity portfolio, including energy, metals and agricultural products. He also leads the company's options business, globally. Since joining CME Group in September 2006, he also has served as Senior Managing Director of Interest Rates and FX Products, and as Managing Director, Global Head of Foreign Exchange. Prior to joining the company, he acquired more than 16 years of experience in the global FX market, including serving as Managing Director, Global Head of FX Options and Structured Products at Calyon Corporate and Investment Bank in London. He also held senior level positions with Credit Agricole Indosuez in London, Banque Indosuez in Paris and Cooper, Neff & Associates in Chicago. In addition to serving on CME Group's Senior Leadership Team, Sammann serves on the Board of Directors of CME Europe Ltd. and the COMEX Board of Governors.
Mark Spanbroek is a proven industry leader in proprietary trading firms, having led Getco Europe for nearly a decade into a leading market liquidity provider across multiple asset classes. He had relationships with multiple exchanges, including Eurex, LIFFE and AEX.
As a director at Van der Moolen, he was responsible for all trading activities and operational functions in the US, UK and Germany. He has built and run successful businesses in the space, and has excellent contacts throughout the industry, particularly in Europe.
Spanbroek’s knowledge of the FX markets, the key participants, along with liquidity provision in listed markets, made him a strong choice to Chair the CME Europe Board. He is involved with the FIA’s European Principal Traders Association, a group focused on issues surrounding high frequency proprietary trading.
Sean Tully has served as Senior Managing Director, Financial and OTC Products of CME Group since 2014. He is responsible for leading the development, execution and management of the company's global financial products portfolio, including interest rates, equities and foreign exchange, as well as its OTC cross-asset product strategy. Previously, he served as Senior Managing Director, Interest Rate and OTC Products. Before joining CME Group in 2012, Tully most recently served as Managing Director, Global Head of Fixed Income Trading at WestLB in London. During his tenure at WestLB, he held roles of increasing responsibility including Managing Director, Regional Head of Derivatives, Americas and Managing Director, Global Head of Rates, Emerging Markets and Credit Trading in London. He also traded interest rate derivatives at Citibank and Greenwich Capital, running the global team in the USD interest rate swaps at Citi, and as a proprietary trader at Greenwich Capital
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