Swapstream, the market-leading multilateral electronic trading platform for interest rate swaps (IRS) and subsidiary of CME Group, today announced that Ron Peterson has joined the company as Director, Swapstream North America, working as part of the company's North American sales effort. Peterson will be based in New York, reporting to Will Evans, Swapstream's Chief Operating Officer, who is based in London.
"Ron will be a tremendous asset to Swapstream, and we are delighted to have him join our team as we expand our presence in North America," said Stephane Rio, Chief Executive Officer, Swapstream. "Ron has a deep understanding of the complexities of our markets, which will allow him to work with our customers to help them derive the greatest benefits from trading on our platforms. His experience will be invaluable as we move toward the launch of cleared swaps on our sPro™ platform later this year."
Peterson, 54, has more than 23 years of experience in the financial services industry. He joins Swapstream from Deutsche Bank Securities Inc. where he served as Director, Managing Listed Product Sales for the bank's prime brokerage group. Previously, he managed sales for the futures division at Deutsche and was a member of the bank's fixed income proprietary trading team. Prior to Deutsche, Peterson was at Goldman Sachs & Co for 10 years, working first in their fixed income strategies group for and later in proprietary trading.
Peterson earned a bachelor's degree in mathematics from City University of New York and master's degrees in economics and computer science, also from the City University of New York. He holds NASD Series 7, 63 and 3 licenses.
CME Swaps on Swapstream launched in a beta phase in March 2008 and are expected to go live in the second quarter of 2008. For more information on CME Swaps on Swapstream please visit http://www.cme.com/swaps or http://www.swapstream.com/ to learn more about connecting to Swapstream.
About Swapstream
Swapstream, a wholly-owned subsidiary of CME Group, is the first electronic platform designed specifically for trading interest rate swaps. Swapstream's platforms enable users to benefit from the efficiencies of electronic trading without sacrificing the flexibility of traditional voice trading. Swapstream also offers exclusive access to CME Swaps on Swapstream, the first centrally cleared OTC Interest Rate Swap available to all market participants, which will offer the benefits and financial safeguards of clearing through CME Clearing. CME Swaps on Swapstream combines access to deep OTC swap liquidity pools with efficiencies previously only available to exchange-traded products. Professional traders will have access to cost-effective interest rate swap trading in established, liquid markets, with the benefits of low-overhead straight-through processing.
About CME Group
CME Group (http://www.cmegroup.com/) is the world's largest and most diverse derivatives exchange. Formed by the 2007 merger of the Chicago Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT), CME Group serves the risk management needs of customers around the globe. As an international marketplace, CME Group brings buyers and sellers together on the CME Globex electronic trading platform and on its trading floors. CME Group offers the widest range of benchmark products available across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, agricultural commodities, and alternative investment products such as weather and real estate. CME Group is traded on the New York Stock Exchange and NASDAQ under the symbol "CME."
