Re-elected to one-year terms were:
- Vice Chairman: Terrence A. Duffy
- Second Vice Chairman: James E. Oliff
- Secretary: Martin J. Gepsman
- Treasurer: Robert "Buck" Haworth
Duffy, a floor broker and trader and President of TDA Trading, Inc., will begin his fourth term as CME Vice Chairman. A CME member since 1981, he has served on the Board since 1995. Duffy studied business administration at the University of Wisconsin-Whitewater. He is married and resides in Lemont, Illinois.
Oliff has served on CME’s Board of Directors since 1995 and as its Second Vice Chairman since 1998. He previously served on the Board from 1985 to 1992 and as its Second Vice Chairman from 1989 to 1992 and Secretary in 1996. He is Executive Director of International Futures and Options Associates, a floor brokerage business. He is also President of LST Commodities, LLC and Vice Chairman of LaSalle Street Trading Group, LLC. He earned a bachelor of arts degree from Brandeis University in Waltham, Massachusetts and J.D. from Northwestern University School of Law in Evanston, Illinois. A resident of Deerfield, Illinois, he is married with three children.
Gepsman, a floor broker and trader, will begin his fourth consecutive term as CME Secretary. He has been a member of the exchange since 1985 and a member of the Board since January 1994. A Chicago resident, Gepsman received a bachelor of arts degree in French and German and an MBA from Indiana University.
Haworth was re-elected Treasurer, having previously served as Treasurer in 1998 and 2000. He has been a floor trader and exchange member since 1979 and has served as a member of the Board since 1998. A certified public accountant, Haworth received his bachelor of arts and MBA degrees from Drake University in Iowa. He is a resident of Wheaton, Illinois, and is married with three sons and two daughters.
Gordon was first elected Chairman of the Board in January 1998 and re-elected to a second two-year term in 2000. He was Vice Chairman of the exchange from 1995 through 1997. Gordon also serves as President and Chief Operating Officer of Tokyo-Mitsubishi Futures (USA), Inc., a CME clearing member firm wholly owned by the Bank of Tokyo-Mitsubishi, Ltd., one of the world’s largest financial institutions. He has been a member of the exchange since 1977. Gordon received a bachelor of science degree in mathematics, cum laude, from Union College in Schenectady, New York. A resident of Chicago, he is married with two children.
On November 13, 2000, CME finalized its transformation into a for-profit, shareholder-owned corporation as it became the first U.S. financial exchange to demutualize by converting its membership interests into shares of common stock that can trade separately from exchange trading privileges. On April 18, CME held its annual shareholders’ meeting and election, completing the first step of a two-step process that will reduce the size of its Board from 39 to 19 members by April 2002. Thirty people now serve on the streamlined Board.
Chicago Mercantile Exchange Inc. (www.cme.com) is an international marketplace that brings together buyers and sellers on its trading floors and GLOBEX®2 around-the-clock electronic trading system. CME offers futures contracts and options on futures primarily in four product areas: interest rates, stock indexes, foreign currencies and agricultural commodities. All over the world, pension funds and investment advisers, portfolio managers, corporate treasurers, commercial and investment banks, broker/dealers and individuals are among those who trade on CME as an integral part of their financial management strategy. In 2000, more than 231 million contracts with an underlying value of more than $155 trillion changed hands at CME. The exchange moves about $1 billion per day in settlement payments, manages $30 billion in collateral deposits and administers more than $1 billion of letters of credit.
