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CME, the world's largest and most diverse derivatives exchange, today announced the appointment of Scot E. Warren as Managing Director, CME Equity Indexes Products and Services. Warren, who has more than 16 years of equity trading management experience, will report to Rick Redding, Managing Director, CME Products and Services. Warren replaces Tina Lemieux who was promoted to Managing Director of CME Hedge Funds and Broker Services in July 2006. Lemieux has held the dual role Managing Director for CME Equity Indexes and Hedge Funds and Broker Services since her promotion.
Warren, 43, joins CME from Goldman Sachs and Co. where he served as Vice President, Manager Trading and Business Analysis Team. While at Goldman, Warren managed their equity wholesaling to broker dealers and developed businesses strategies that analyzed client and product profitability and business performance. At CME, Warren will be responsible for furthering the volume growth of CME futures and options on equity index futures traded on CME Globex(R) and continuing to globalize CME's suite of equity derivatives that meet the needs of customers around the world.
"Scot's addition to our equity team only enhances CME's position as the leading provider of exchange-listed equity index futures and options on futures on the leading equity benchmarks," Redding said. "For more than a decade, CME's equity product line has consistently returned solid volume growth with volume increasing over the past six years at a compounded annual growth rate of 37 percent. Scot's deep knowledge of customer needs in this market segment will further provide CME with opportunities to continue to offer products that are innovative and provide value to our global customer base."
More than 90 percent of the domestically listed equity index futures trade at CME, which includes offerings on large, medium and small equity indexes as well as technology and global equity benchmarks provided by S&P, Nasdaq, Russell, MSCI and Nikkei. Today more than 2.1 million contracts trade each day. Options on equity index futures traded on CME Globex had an average daily volume of 66,000 contracts in the first quarter of this year, a 146 percent increase above previous-year levels.
Prior to Goldman Sachs, Warren managed equity and option execution and clearing businesses for ABN Amro in Chicago and was a senior consultant for Arthur Andersen & Co. for financial services firms. He holds a bachelor's degree in accounting from Pennsylvania State University and a master's of science degree in financial markets and trading from the Illinois Institute of Technology Stuart School of Business.
CME (http://www.cme.com) is the world's largest and most diverse derivatives exchange. As an international marketplace, CME brings together buyers and sellers on the CME Globex(R) electronic trading platform and on its trading floors. CME offers futures and options on futures in these product areas: interest rates, stock indexes, foreign exchange, agricultural commodities, energy, and alternative investment products such as weather, real estate and economic derivatives. CME is a wholly-owned subsidiary of Chicago Mercantile Exchange Holdings Inc. (NYSE, Nasdaq: CME), which is part of the Russell 1000(R) Index and the S&P 500(R) Index.
