CME Group names Laurent Paulhac as a managing director
Derivatives marketplace CME Group has appointed Laurent Paulhac, an executive with more than 17 years of derivatives industry experience, as managing director, over-the-counter products and services.
Paulhac (pictured) will report to Rick Redding, managing director, products and services. He will be responsible for leading the development, execution and management of CME Group's global OTC business strategy and will be based in New York.
"CME ClearPort has grown into a USD220m business over the past seven years, and we are committed to helping market participants around the world to mitigate their counterparty risk and access neutral valuations for OTC products across multiple asset classes," says CME Group chief executive officer Craig Donohue. "With more than 700 products currently available for clearing in energy, metals and agricultural commodities, average daily volumes of 500,000 contracts per day and more than 10,000 registered users globally, we look forward to developing CME ClearPort to serve credit, equities, foreign exchange and interest rate markets as well."
Paulhac, 40, previously served as chief executive officer of CMA, a provider of credit derivatives market data acquired by CME Group in 2008. He will continue leading the CMA organisation for a transition period until a new chief executive officer is named.
Prior to joining CMA, Paulhac provided management consulting services for venture capital groups and technology companies looking to expand their businesses in financial services. In 1999, he founded Prescient Markets, an electronic execution business focused on money market instruments in the US, servicing over 400 institutions. In 2002, Prescient Markets was acquired by SunGard Data Systems, and Paulhac served as president of SunGard's STN money markets division until 2004. Paulhac has also served as a principal of Financial Sciences Corporation, a software company dedicated to providing treasury management systems to global banks and corporations.
Through CME ClearPort, CME Group offers OTC market participants a set of clearing services to mitigate counterparty risk and provide neutral valuations across asset classes.
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