CME Group Taps Citadel Executive To Head New Data-Center Push

CME Group Inc. (CME) said Tuesday that it hired Craig Mohan to lead development of the exchange's co-location and data-center business, as the derivatives-exchange operator ramps up to begin offering new services for computer-driven traders early next year.

Mohan, who joins CME from hedge fund firm Citadel Investment Group, will plan strategy as CME prepares to roll out co-location capabilities and broaden its data-center services in early 2012. Rival IntercontinentalExchange Inc. (ICE) also sited its main data center in Chicago.

The units have taken on greater significance as high-frequency participants account for an expanding share of total CME business.

CME is building a new Chicago-area facility to house all trade-matching engines for futures and options products traded on its electronic Globex platform.

The exchange's plan is to provide co-location services, which allow customers to place their servers beside the exchange's matching engines to make trade execution times as fast as possible.

-By Jacob Bunge, Dow Jones Newswires; (312) 750 4117; jacob.bunge@dowjones.com

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