To facilitate the continued growth of its GLOBEX® electronic trading platform, Chicago Mercantile Exchange Inc. (CME), the largest U.S. futures exchange, today announced a number of organizational changes in its Products & Services Division. These changes include the appointment of Raymond J. McKenzie as Director, FX Products; John F. Curran as Director, Interest Rate Products; and Elizabeth C. Gisch as Director, GLOBEX® Account Management.
"The actions we are announcing today will allow CME to better integrate and leverage the synergies between our technology and product development efforts," said Rick Redding, Managing Director, Products & Services. "Ray, John and Elizabeth each bring a level of expertise that will help CME create new business opportunities for GLOBEX."
In the second quarter of this year, CME's GLOBEX volume increased 65 percent, Eurodollar trading on GLOBEX increased 1000 percent and foreign exchange trading on GLOBEX was up 99 percent from the second quarter of 2003.
Raymond J. McKenzie, Director, FX Products: In his new role, McKenzie will work to grow CME's electronic foreign exchange (eFX) volumes, particularly with proprietary trading firms. He will report to Richard Sears, head of CME's FX product line.
McKenzie has over 20 years of experience in investment banking, including work as a Managing Director for Morgan Stanley. He created Morgan Stanley's foreign exchange futures arbitrage group and assisted in the development of the firm's electronic trading systems. Ray has served as CME's Director, Account Management and Customer Relationship Management since 2001. He earned a bachelor's degree from New York University in 1989.
John F. Curran, Director, Interest Rate Products: In his new role, Curran will be responsible for supporting the company's interest rate products group on a number of strategic growth initiatives, including facilitating Eurodollar Options on GLOBEX, implementing CME's FRA Switch facility in partnership with Tullett Liberty, enhancing implied pricing functionality on GLOBEX and developing innovative new products. He will report to Peter Barker, head of the company's interest rate product line.
Curran has served as Director, Strategic Planning for CME since 2002 and has been with the company since 1997. He earned a bachelor's degree in economics from Emory University in Atlanta in 1991 and a Ph.D. in economics from the University of Chicago in 2004.
Elizabeth C. Gisch, Director, GLOBEX Account Managment: In her new role, Gisch will head GLOBEX Account Management, a new department designed to provide a single point of customer support for GLOBEX customers' connectivity, software development and ongoing production needs. She also will be responsible for continuing communications with CME's electronic trading customers regarding GLOBEX strategy, system updates and policy changes. In this capacity, Gisch will lead CME's successful eTrading User Group (eTUG), a continuing effort to solicit customer feedback. She will report to Rick Redding.
Gisch has served as Director, Technology Marketing since 2001 and has been with the company since 1993. She earned a bachelor's degree in communications and French from St. Mary's College in Notre Dame, Ind. in 1991.