CME Expands Foreign Exchange Product Team With New Hires
April 30 2007 - 3:58PM
PR Newswire (US)
CHICAGO, April 30 /PRNewswire-FirstCall/ -- CME, the world's
largest and most diverse derivatives exchange and the largest
regulated marketplace for foreign exchange (FX) trading, today
announced that it has expanded its FX team by appointing Craig
LeVeille as Director, FX Products and Michael Hohman as Associate
Director, FX Products. These newly created positions are designed
to focus on selling CME FX products to FCMs, hedge funds, brokers,
banks, proprietary trading groups, institutions and other current
and potential clients worldwide. LeVeille, 47, and Hohman, 38, will
be responsible for helping to execute CME's growth strategy in its
FX products, including increasing trading volume and distribution
of FX futures and options on CME Globex(R), expanding the company's
global customer base, developing new products and services and
enhancing CME's presence in the over-the-counter (OTC) FX market.
They will both report to Derek Sammann, Managing Director, FX
Products. "Given the extraordinary growth CME FX has experienced
over the past year, we are expanding our FX team in Chicago, with
the addition of Craig and Michael, and will continue that expansion
globally in the next few months," said Derek Sammann, Managing
Director, FX Products. "Craig and Michael's extensive experience in
the OTC and exchange-traded FX markets as well as their deep market
knowledge will be invaluable as we continue to accelerate the
growth of our FX business." CME's FX product line continues to
experience dynamic growth. Last quarter, the company delivered
record FX volume, which rose 36 percent to 555,000 contracts per
day. In March, CME's combined FX futures and options volume
represented a record notional value of $80 billion, making CME the
second largest pool of liquidity in the world. CME's FX product
line has a three-year compounded annual growth rate over 50
percent, compared to an estimated 15 percent annual growth rate for
the OTC FX market. Since 1993, LeVeille has served as Director, FX
Options for BMO Capital Markets, where he was responsible for the
development and execution of corporate and institutional FX options
sales. He was also an FX options market maker for the bank in the
OTC market. Prior to joining BMO Capital Markets, LeVeille worked
as an options trader for Societe Generale and Kessler/Asher Group.
His background also includes marketing experience with Centel
Corporation. LeVeille earned a bachelor's degree in marketing from
the University of Illinois and an MBA degree in finance from the
University of Chicago. He is a Chartered Financial Analyst. Hohman
joins CME from Cantor Fitzgerald where he most recently served as
Vice President, FX Sales. His background also includes trading
experience with Capital Trading Group, LLC. and Morgan Stanley
& Co. He earned a bachelor's degree in political science from
Western Illinois University and has his series 3, 7, 63, 65 and 24
licenses. CME offers the world's largest regulated FX trading
complex, providing users with liquid, transparent markets,
guaranteed execution and central counterparty clearing risk
management on 41 individual FX futures and 31 options on futures
products. In the first quarter of 2007, CME FX average daily volume
was 555,000 contracts, with a notional value of $67.9 billion, up
36 percent from first quarter 2006. Last year, over 114 million FX
contracts with a notional value of over $13.8 trillion traded at
CME. CME (http://www.cme.com/) is the world's largest and most
diverse derivatives exchange. As an international marketplace, CME
brings together buyers and sellers on the CME Globex(R) electronic
trading platform and on its trading floors. CME offers futures and
options on futures in these product areas: interest rates, stock
indexes, foreign exchange, agricultural commodities, energy, and
alternative investment products such as weather, real estate and
economic derivatives. CME is a wholly-owned subsidiary of Chicago
Mercantile Exchange Holdings Inc. (NYSE:CMENASDAQ:CME), which is
part of the Russell 1000(R) Index and the S&P 500(R) Index.
Chicago Mercantile Exchange, CME, the globe logo, CME Globex and
E-mini are trademarks of Chicago Mercantile Exchange Inc. CLEARING
21 is a registered trademark of CME and New York Mercantile
Exchange, Inc. S&P, S&P 500, NASDAQ-100, Nikkei 225,
Russell 1000, Russell 2000, TRAKRS, Total Return Asset Contracts
and other trade names, service marks, trademarks and registered
trademarks that are not proprietary to Chicago Mercantile Exchange
Inc. are the property of their respective owners, and are used
herein under license. Further information about CME and its
products is available on the CME Web site at http://www.cme.com/.
CME-G DATASOURCE: CME CONTACT: Media, Laurie Bischel,
+1-312-648-8698, or Pamela Plehn, +1-312-930-3446, , or investors,
John Peschier, +1-312-930-8491, all of CME Web site:
http://www.cme.com/
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