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.
Bryan T. Durkin has served as Chief Operating Officer of CME Group since July 2007. He is responsible for the Products & Services, Marketing, Research & Product Development, Technology, Global Operations and Enterprise Solutions Divisions, as well as the company’s global offices. Additionally, he is President of GFX Corp., a wholly owned subsidiary of CME Group that provides liquidity in foreign exchange futures.
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. Durkin holds a bachelor’s degree in business administration and an MBA from Lewis University. He has been an adjunct faculty member of Lewis University’s MBA program, teaching courses in organizational behavior and management.
David Feltes is Chief Operating Officer of CME Europe Ltd. He is responsible for products strategy and operations at CME Europe Ltd. Feltes joined CME Group as a Director for Alliance and Venture Management in 2010.
Prior to joining the CME, Feltes worked as a Principal for Oliver Wyman, a strategic management consultancy, focusing on exchanges, trading and market structure. Project work included working with the leading post-trade houses in Europe and the US, and he has advised many of the leading financial services firms in the EU, Asia and the Middle East. He began his career at Marquette Partners, LP, a leading proprietary trading firm. At Marquette, he rose from pit clerk to IT Manager to CEO in just over 10 years.
He graduated from Washington University in St. Louis with degrees in economics and political science, as well as graduate course work in financial information technology.
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.
Michael O’Connell is the Managing Director, Clearing Solutions at CME Group. He is the Global Business Head for Clearing Products and Services management; he is accountable for the global clearing strategy and execution related to exchange-traded and over-the-counter (OTC) products and their ancillary post-trade components, including repository services. Immediately prior to CME, he held the position of Senior Vice President, Corporate & Institutional Services at Northern Trust, responsible for derivative products strategy within Custody Services.
O’Connell served as Managing Director at Bank One for seven years, leading up to the merger with JP Morgan, where he was Head of Equity Derivative Trading. He was a Market-Maker at the Chicago Board Options Exchange (CBOE) during the mid-90s, prior to which he was a Vice President at DE Shaw & Co, leading their early equity derivative trading strategy; O’Connell began his trading career in 1986 at Hull Trading Company, and attained the level of Partner prior to leaving for DE Shaw & Co in 1990.
O’Connell has a Bachelor’s degree in Biology/Physics from Lawrence University, and attended the University of Wisconsin School of Medicine and Public Health, enrolled in the PhD program in Pathology.
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 serves as CME Group's Senior Managing Director of FX, Metals and Options Solutions. He is responsible for leading the development, execution and global management of CME Group's FX, Metals and Options Solutions businesses. He has also served as Senior Managing Director of Interest Rates and FX Products, and as Managing Director, Global Head of Foreign Exchange since joining CME Group in September 2006. Prior to joining the company, he acquired more than 16 years of experience in the global FX market, most recently as Managing Director, Global Head of FX Options and Structured Products at Calyon Corporate and Investment Bank in London. He also has 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. as well as 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.
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