This content is from: Research

The 2017 Tech 40: Terrence Duffy

12. Terrence Duffy
Chairman and Chief Executive Officer
CME Group
Last 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 40
1. Adena Friedman
2. Catherine Bessant
Bank of
America Corp.
3. Robert Goldstein
4. Jeffrey Sprecher
Intercontinental Exchange
5. Lance Uggla
IHS Markit
6. Shawn Edwards & Vlad Kliatchko
7. David Craig
Thomson Reuters
8. Michael Spencer
NEX Group
9. Don Callahan
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
18. David Rutter
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
35. Sebastián Ceria
36. Brian Conlon
First Derivatives and Kx Systems
37. Tyler Kim
38. Michael Cooper
BT Radianz
39. Robert Schifellite
Broadridge Financial Solutions
40. Jim Minnick

Related Content