Harris, 35, will work to enhance customer relationships in order to build and maintain liquidity in CME foreign exchange markets. Harris will report to Rick Sears, Managing Director, CME Foreign Exchange Products.
CME is the largest electronic FX market outside the interbank market, and electronic FX trading on the exchange’s CME® Globex® trading platform increased more than 100 percent last year. Overall CME FX volume increased 65 percent in 2005, to an average of 334,000 contracts traded per day. In January, CME reported average daily FX volume of 384,000 contracts, an increase of 33 percent over January 2005 levels.
Harris has nearly 20 years of experience in the global financial services industry. He most recently served as Senior Sales Manager for Lava Trading, where he was responsible for selling Lava’s FX trading platform to commodity trading advisors, hedge funds, asset managers, overlay managers, global macro funds and third party vendors. He previously served as Founding Partner for Plimsoll Capital LLC, an investment and FX trading firm. Harris also held various leadership positions, including Senior Vice President, Business Development and Sales for GFI Group, where he developed financial, commodity and energy derivatives trading strategies and business. He has also worked as a foreign exchange broker, in both New York and London, for M.W. Marshall & Co. and as an equity dealer for Cresvale Securities Ltd. and Morgan Grenfell & Co. Securities.
Chicago Mercantile Exchange Inc. (www.cme.com) is the world’s largest and most diverse futures exchange. As an international marketplace, CME brings together buyers and sellers on CME Globex electronic trading platform and on its trading floors. CME offers futures and options on futures primarily in four product areas: interest rates, stock indexes, foreign exchange and commodities. The exchange moved an average of $1.4 billion per day in settlement payments in 2005 and managed $45.6 billion in collateral deposits at December 30, 2005, including $3.2 billion in deposits for non-CME products. CME is a wholly owned subsidiary of Chicago Mercantile Exchange Holdings Inc. (NYSE, NASDAQ: CME), which is part of the Russell 1000® Index.
Chicago Mercantile Exchange, CME and Globex are registered trademarks of Chicago Mercantile Exchange Inc. Other trade names, service marks, trademarks and registered trademarks that are not proprietary to Chicago Mercantile Exchange Inc. are the property of their respective owners, and are used herein under license.
