News Release

CME Group Names Michael O'Connell as Managing Director, Clearing Business Development

Wed Nov 19 2008

CHICAGO, Nov. 19 /PRNewswire-FirstCall/ -- CME Group, the world's largest and most diverse derivatives exchange, today announced that it has named Michael O'Connell as Managing Director, Clearing Business Development. O'Connell will be responsible for developing CME Clearing products and services. He will report to Kim Taylor, Managing Director and President, CME Clearing.

"Michael's deep knowledge of financial markets will be a tremendous asset to CME Group as we work to extend our centralized clearing capability and the safety and soundness we deliver to the global marketplace," said Kim Taylor, Managing Director and President, CME Clearing. "CME Clearing leads the industry in providing customers with the security they need to operate in today's challenging market conditions. We look forward to applying Michael's expertise as we continue to provide our customers with transparent, liquid markets for risk management."

O'Connell, 48, who has more than 20 years of experience in the global derivatives industry, joins CME Group from Northern Trust Corporation, where he most recently served as Senior Vice President within Corporate & Institutional Services, and was part of its Global Consulting team. Prior to Northern Trust, O'Connell was Managing Director, Head of Equity Derivative Trading/Risk at Bank One NA. His background also includes trading and trading management roles at the Chicago Board Options Exchange, D.E. Shaw & Co and Hull Trading Company, respectively.

O'Connell earned his bachelor's degree in biology and physics from Lawrence University, and is a Series 7 and 63 registered representative.

CME Clearing is the world's largest derivatives clearing organization, processing more than two billion contracts a year. By acting as the counterparty to every trade, CME Clearing virtually eliminates counterparty risk, meaning that for every trade completed on the exchange, CME Clearing guarantees the financial soundness of both parties. CME Clearing leads the industry in providing a comprehensive set of risk management services that provides market participants with the confidence they need to operate, invest and grow. To learn more about CME Clearing, please visit

CME Group ( is the world's largest and most diverse derivatives exchange. Building on the heritage of CME, CBOT and NYMEX, CME Group serves the risk management needs of customers around the globe. As an international marketplace, CME Group brings buyers and sellers together on the CME Globex electronic trading platform and on trading floors in Chicago and New York. By acting as the buyer to every seller and the seller to every buyer, CME Clearing virtually eliminates counterparty credit risk. CME Clearing also offers $7 billion in financial safeguards to help mitigate systemic risk, providing the security and confidence market participants need to operate, invest and grow. CME Group offers the widest range of benchmark products available across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, and alternative investment products such as weather and real estate. CME Group is listed on NASDAQ under the symbol "CME".

The Globe logo, CME, Chicago Mercantile Exchange, CME Group, Globex and E-mini, 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, New York Mercantile Exchange, and ClearPort 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 and its products can be found at



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