CME Group, the world’s main derivatives market, at this time introduced the appointment of two new world heads for its Fairness Index and Cryptocurrency companies to proceed driving product innovation and supporting long-term development.
Paul Woolman, World Head of Fairness Index Merchandise, will oversee the corporate’s Fairness Index product portfolio, whereas Giovanni Vicioso, World Head of Cryptocurrency Merchandise, will assume duty for the corporate’s Cryptocurrency merchandise. Woolman and Vicioso will report back to Tim McCourt, who beforehand led each enterprise traces and was not too long ago named to the CME Group administration crew as World Head of Fairness and FX Merchandise.
“Our fairness and cryptocurrency companies have skilled great development in recent times, underpinned by sturdy buyer adoption and continued innovation,” stated McCourt. “Of their expanded roles, Paul and Gio will proceed to satisfy the wants of our purchasers by offering services and products to handle danger in at this time’s ever-changing market.”
Woolman has labored in fairness derivatives for greater than 20 years. He joined CME Group in 2016 as Senior Director, Head of EMEA Fairness Merchandise and Different Investments. Previous to CME Group, Woolman served as a Delta One Fairness Derivatives Buying and selling Director at Financial institution of America Merrill Lynch for 11 years, the place he managed publicity throughout futures, ETFs, swaps, and structured merchandise, in addition to money equities and FX. He holds a bachelor’s diploma in geography from the College of Bristol and an MBA from London Enterprise College.
Vicioso, with practically 30 years of economic markets expertise, joined CME Group in 2012 as Senior Director of Fairness Merchandise, during which he additionally started his involvement in CME Group’s Cryptocurrency enterprise. Previous to CME Group, he served as Vice President for RBC Capital Markets’ Fairness Derivatives Group on their OTC Fairness Derivatives desk. Previous to RBC, he labored at Deutsche Financial institution within the World Fairness Derivatives Division. Vicioso holds a bachelor’s diploma in mechanical engineering from Rutgers College and an MBA from Columbia Enterprise College.
This new reorganization comes amid a powerful surge in development from CME Group’s Fairness Index and Cryptocurrency enterprise traces.
Fairness Index buying and selling highlights embody:
Q3 futures and choices common each day quantity (ADV) of seven.4 million contracts elevated by greater than 46% in opposition to Q3 2021.
September futures and choices report ADV of 9.4 million contracts elevated over 47% in opposition to September 2021.
Practically 17.5 million Tuesday and Thursday E-mini S&P 500 choices contracts have traded since launch in March, changing into probably the most profitable choices launch in CME Group historical past.
Cryptocurrency buying and selling highlights embody:
Q3 futures and choices ADV of 46.2K contracts elevated over 45% YoY in opposition to Q3 2021.
September futures and choices ADV of 59.6K contracts elevated greater than 72% in opposition to September 2021.
Bitcoin futures ADV of 11.7K contracts elevated greater than 66% versus Q3 2021.
Bitcoin Euro and Ether Euro futures launched on August 29, and Ether choices launched on September 12.
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