

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.
![]() 2. Catherine Bessant Bank of America Corp. ![]() 3. Robert Goldstein BlackRock ![]() 4. Jeffrey Sprecher Intercontinental Exchange ![]() 5. Lance Uggla IHS Markit |
![]() 6. Shawn Edwards & Vlad Kliatchko Bloomberg ![]() 7. David Craig Thomson Reuters ![]() 8. Michael Spencer NEX Group ![]() 9. Don Callahan Citigroup ![]() 10. Elisha Wiesel Goldman Sachs Group |
![]() 11. Michael Bodson Depository Trust & Clearing Corp. ![]() 12. Terrence Duffy CME Group ![]() 13. Charles Li Hong Kong Exchanges and Clearing ![]() 14. Sean Belka Fidelity Investments ![]() 15. Chris Concannon CBOE Holdings |
![]() 16. Guy Chiarello First Data Corp. ![]() 17. Steven Lieblich Citadel ![]() 18. David Rutter R3CEV ![]() 19. Blythe Masters Digital Asset Holdings ![]() 20. Alfred Spector Two Sigma Investments |
![]() 21. Neil Katz D.E. Shaw Group ![]() 22. Lee Olesky Tradeweb Markets ![]() 23. Richard McVey MarketAxess Holdings ![]() 24. David Gledhill DBS Bank ![]() 25. Seth Merrin Liquidnet Holdings |
![]() 26. Antoine Shagoury State Street Corp. ![]() 27. Peter Brown & Robert Mercer Renaissance Technologies ![]() 28. Lou Eccleston TMX Group ![]() 29. Peter Cherecwich Northern Trust Corp. ![]() 30. Mike Chinn S&P Global Market Intelligence |
![]() 31. Chris Corrado London Stock Exchange Group ![]() 32. Neal Pawar AQR Capital Management ![]() 33. Gary Norcross Fidelity National Information Services ![]() 34. Steven O'Hanlon Numerix ![]() 35. Sebastián Ceria Axioma |
![]() 36. Brian Conlon First Derivatives and Kx Systems ![]() 37. Tyler Kim MaplesFS ![]() 38. Michael Cooper BT Radianz ![]() 39. Robert Schifellite Broadridge Financial Solutions ![]() 40. Jim Minnick eVestment |