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Craig Donohue, Chief Executive Officer beginning in 2004, is instrumental in designing and achieving CME’s demutualization, November 2000

Demutualization

During the 1990s, increasing global competition threatens Chicago exchanges. In response, CME develops a plan to demutualize — centralizing the leadership structure to streamline decision-making and strengthen competitiveness in an increasingly electronic and global landscape. Despite fears of losing the vibrancy of trading floors to the speed of computers, members ultimately meet the demutualization proposal with a standing ovation.

Traders celebrate the final day of trading as a non-profit membership exchange and mark the transformation to a for-profit shareholder-based organization, 2000

CME Demutualization Proposal, April 25, 2000

AWS