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CME, the most diverse financial exchange, today announced that it has been named Derivatives Exchange of the Year in Risk Magazine's annual Risk Awards.
The awards recognize best practice and innovation in the risk management and derivatives markets in 24 categories across banks, brokerage houses, investors and market providers. Winners were named and profiled in the January edition of Risk magazine and the awards will be presented this evening during a dinner at the Jumeirah Carlton Tower, Cadogan Place, London. CME Executive Chairman Terry Duffy and CEO Craig Donohue will be in attendance to accept the award.
This award comes in a year in which CME recorded its seventh consecutive year of double-digit volume growth, extended its technology to energy and metals contracts via an agreement with the New York Mercantile Exchange (NYMEX), and launched innovative new products ranging from contracts on weather, US domestic real estate, and currency derivatives for the Chinese Renminbi and the Korean Won. CME also expanded its business into the OTC derivatives space with the acquisition of swaps trading platform Swapstream, the announcement of FXMarketSpace -- a joint venture with Reuters for trading cash FX -- and launched Clearing360, a clearing service for OTC products.
"We are pleased to be named as Risk's Derivatives Exchange of the Year," said CME Executive Chairman Terry Duffy. "The recognition of the derivatives community is particularly meaningful to us as our industry becomes more competitive globally and we strive to grow our business."
"We continue to look for opportunities to develop the products and services our customers need in rapidly-evolving markets and this award from Risk reflects our hard work in driving industry change," said CME CEO Craig Donohue. "We look forward to delivering more innovative technologies and instruments in 2007 to our customers around the world."
The awards were judged by an editorial panel of senior Risk editors and staff writers. Judging criteria included innovation, strategy, product development and use of technology. Candidates had to demonstrate that they met the needs of their clients in the most efficient, cost-effective way.
CME (www.cme.com) is the world's largest and most diverse financial 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.
Risk magazine is the leading publication for the global derivatives and risk management communities. Celebrating its 20th anniversary this year, Risk is read by more than 80,000 financial professionals each month and its annual awards are widely acknowledged and celebrated for the standards of excellence they have established for the markets covered by the magazine.
Chicago Mercantile Exchange, CME, the globe logo, CME Globex and E-mini are 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. Further information about CME and its products is available on the CME Web site at www.cme.com.
