CME Group, the world's leading derivatives marketplace, today announced the appointment of
John Ricci as Managing Director and Global Head of Agricultural Products.
Reporting to
Derek Sammann, Senior Managing Director and Global Head of Commodities Markets, Ricci will be responsible for leading the development, execution and management of the exchange's agricultural business globally. He will be based in Chicago.
"We are pleased to welcome John to CME Group," said
Derek Sammann, Senior Managing Director and Global Head of Commodities Markets. "Our benchmark agricultural products play a vital role in the global economy, helping our customers manage risk as increasing uncertainty continues to drive record activity in our agricultural markets. John has a strong background in working with institutional clients across commodities and ETF markets, which will be an asset as we build upon the strong foundation of our robust commercial and end-user customers to further expand our client base in these essential markets."
Ricci has 25 years of experience in derivatives markets, most recently serving as Global Head of ETF Trading at Invesco, where he led the team responsible for all equity and alternative trading for the global ETF business. Prior to that, Ricci was responsible for equity trading across developed, emerging and frontier markets, along with commodity trading for the mutual fund and ETF complex at BlackRock.
2023 was a record volume year across the agricultural futures and options complex, reaching ADV of 1.5 million. These trends have continued into 2024, with agricultural product ADV achieving double digit growth in April 2024, reaching 1.8M, a 16% increase year-over-year.
