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The 2017 Tech 40: Terrence Duffy

< The 2017 Tech 4012. Terrence DuffyChairman and Chief Executive OfficerCME GroupLast year: PNR

Terrence Duffy, CME Group's chief executive officer, says the innovation embedded in CME's culture takes two forms: product and technology. Duffy recalls trading "ten or 12 products" in the 1980s, "back when 100 percent of the business was done on the trading floor. Today there are thousands of products," he says. That's helped establish the $3.6 billion-in-revenue CME as an elite exchange operator, reaching virtually every country with one of the industry's most significant technological innovations, the Globex electronic trading platform. What Duffy, 58, terms "global uncertainty" and customers' need to manage risks across asset classes brought "record first-quarter results, which included our largest quarterly average daily volume ever, with record volumes in interest rate futures and options, metals futures, and equity options." He says he's now increasing his attention to technology innovation because the name of the game is distribution — not just through linking servers around the world, but also through educating and attracting more customers to CME's products and liquidity. Duffy and president Bryan Durkin sit with prominent academics, including Nobel laureates Robert Merton and Myron Scholes, on the Competitive Markets Advisory Council, a think tank that is part of the CME Group Center for Innovation.

 The 2017 Tech 40Click below to view profiles
1. Adena FriedmanNASDAQ2. Catherine BessantBank of
America Corp.3. Robert GoldsteinBlackRock4. Jeffrey SprecherIntercontinental Exchange5. Lance UgglaIHS Markit
6. Shawn Edwards & Vlad KliatchkoBloomberg7. David CraigThomson Reuters8. Michael SpencerNEX Group9. Don CallahanCitigroup10. Elisha WieselGoldman Sachs Group
11. Michael BodsonDepository Trust & Clearing Corp.12. Terrence DuffyCME Group13. Charles LiHong Kong Exchanges and Clearing14. Sean BelkaFidelity Investments15. Chris ConcannonCBOE Holdings
16. Guy ChiarelloFirst Data Corp.17. Steven LieblichCitadel18. David RutterR3CEV19. Blythe MastersDigital Asset Holdings20. Alfred SpectorTwo Sigma Investments
21. Neil KatzD.E. Shaw Group22. Lee OleskyTradeweb Markets23. Richard McVeyMarketAxess Holdings24. David GledhillDBS Bank25. Seth MerrinLiquidnet Holdings
26. Antoine ShagouryState Street Corp.27. Peter Brown &
Robert Mercer
Renaissance Technologies28. Lou EcclestonTMX Group29. Peter CherecwichNorthern Trust Corp.30. Mike ChinnS&P Global Market Intelligence
31. Chris CorradoLondon Stock Exchange Group32. Neal PawarAQR Capital Management33. Gary NorcrossFidelity National Information Services34. Steven O'HanlonNumerix35. Sebastián CeriaAxioma
36. Brian ConlonFirst Derivatives and Kx Systems37. Tyler KimMaplesFS38. Michael CooperBT Radianz39. Robert SchifelliteBroadridge Financial Solutions40. Jim MinnickeVestment