CME Announces '99 Election Results

The Chicago Mercantile Exchange (CME) announced the results of today's annual elections for its Board of Directors. The 25 exchange directors who represent the membership on the board are elected by members of the exchange according to its four divisions: the CME, the International Monetary Market (IMM), the Index and Option Market (IOM) and the Growth and Emerging Markets (GEM). CME rules provide for a two-year term for each director, with a staggered election schedule. Twelve representatives from the CME, eight from the IMM and four from the IOM serve as exchange directors. In addition, as planned when the GEM division was introduced in November 1995, this is the first election to provide for a GEM member to serve on the Board. In addition, appointed public and industry directors serve on the board, which establishes and maintains policy for the exchange. Elected today from the CME division, in order of votes received, were: Bruce F. Johnson, an incumbent and President of Packers Trading Company, Inc., who has served on the board for two years; Timothy R. Brennan, an incumbent floor broker and trader and Vice President of RB&H Financial Services, who has served on the board for 10 years; Jeffrey L. Silverman, an incumbent floor trader first elected to the board in 1994 who served as Secretary in 1995; Howard J. Siegel, a floor trader, elected for the first time; Leslie Henner Burns, a floor trader, elected for the first time; Robert J. Prosi, an incumbent and First Vice President of Salomon Smith Barney, Inc., who has served on the board for 12 years. Elected from the IMM division were: Scott Gordon, incumbent and current Chairman who has served on the board for 18 years and also serves as President and Chief Operating Officer of Tokyo-Mitsubishi Futures (USA), Inc.; Thomas A. Kloet, incumbent and current Treasurer who has served on the board since 1996 and also serves as Senior Managing Director of ABN Amro Incorporated and Senior Vice President of ABN Amro Bank, N.V.; John D. Newhouse, incumbent floor broker and trader, who has served on the board for 12 years; Patrick J. Mulchrone, incumbent floor broker and trader who has served on the board since 1998 and previously from 1991 through 1996 and as Second Vice Chairman from 1993 through 1996. Elected from the IOM division were: Martin J. Gepsman, incumbent floor broker and trader and current Secretary, who has served on the board since 1994; H. Jack Bouroudjian, incumbent and Senior Vice President of Equity Futures with Commerz Futures, who has served on the board since 1996. Elected from the GEM division was: Mark G. Papadopoulos, a floor trader who is one of the 50 original members of the GEM division. Remaining elected board members, whose terms expire in December 2000, are: CME members Jeffrey R. Carter, Terrence A. Duffy, Robert L. Haworth, Irwin Rosen, William G. Salatich, Jr. and Jack Sandner; IMM members Yra G. Harris, James E. Oliff, William R. Shepard and David I. Silverman; and IOM members Gary M. Katler and Leon C. Shender. All officers of the board will be elected by the directors at an organization meeting on Wednesday, December 15. The position of Chairman of the Board is a two-year term. The other officer positions - Vice Chairman, Second Vice Chairman, Secretary and Treasurer - are one-year terms.