CME Group selects Dennis as Global Head of Fixed Income
09 July 2024 US
Image: CME_Group
Global derivatives marketplace, CME Group, has appointed Mike Dennis as global head of fixed income.
In his new role, Dennis will oversee the company’s largest, most actively traded global benchmark futures and options contracts on SOFR and US Treasuries, including benchmark bonds and notes that enable investors to manage risk across the entire US yield curve.
He will also lead BrokerTec, an electronic cash trading platform for US Treasury benchmarks, EU, UK, and US repo trading.
Dennis will report to Terry Duffy, CME group chairman and CEO, and will serve on the company’s management team.
He will resign from the CME Group board of directors effective immediately and begin his new position with the company on 5 August.
With 22 years of interest rate trading experience, Dennis joins CME Group from ABN AMRO Clearing USA, where he served as principal, member of the management team, and chief commercial officer of ABN AMRO Clearing in the US, one of CME Group's largest global futures clearing firms, since 2018.
During his time at ABN AMRO, Dennis helped the firm launch a fixed income clearing and repo initiative for cash treasuries as a member of the Fixed Income Clearing Corporation (FICC).
Prior to that, Dennis was director of prime brokerage and clearing services at Societe Generale.
He also worked in clearing at Advantage Futures, served as an interest rate trader at Peak 6 Investments, and acted as a market-maker in back-month Eurodollar futures and cash Treasuries for a proprietary trading firm in CME open outcry and electronic markets in the early 2000s.
Dennis began his career in 2002 in the corporate investment banking division of J.P. Morgan Chase Chicago.
Commenting on the appointment, Duffy says: “We are extremely pleased to add the expertise of Mike Dennis, a long-time industry professional, to our leadership team to oversee our significant and growing interest rates business, which increased 14 per cent in Q2.
“As a former trader himself, Mike's deep trading, clearing and prime brokerage knowledge, as well as his hands-on markets experience, will bring a unique perspective to this role that will benefit our clients and our organisation.”
In his new role, Dennis will oversee the company’s largest, most actively traded global benchmark futures and options contracts on SOFR and US Treasuries, including benchmark bonds and notes that enable investors to manage risk across the entire US yield curve.
He will also lead BrokerTec, an electronic cash trading platform for US Treasury benchmarks, EU, UK, and US repo trading.
Dennis will report to Terry Duffy, CME group chairman and CEO, and will serve on the company’s management team.
He will resign from the CME Group board of directors effective immediately and begin his new position with the company on 5 August.
With 22 years of interest rate trading experience, Dennis joins CME Group from ABN AMRO Clearing USA, where he served as principal, member of the management team, and chief commercial officer of ABN AMRO Clearing in the US, one of CME Group's largest global futures clearing firms, since 2018.
During his time at ABN AMRO, Dennis helped the firm launch a fixed income clearing and repo initiative for cash treasuries as a member of the Fixed Income Clearing Corporation (FICC).
Prior to that, Dennis was director of prime brokerage and clearing services at Societe Generale.
He also worked in clearing at Advantage Futures, served as an interest rate trader at Peak 6 Investments, and acted as a market-maker in back-month Eurodollar futures and cash Treasuries for a proprietary trading firm in CME open outcry and electronic markets in the early 2000s.
Dennis began his career in 2002 in the corporate investment banking division of J.P. Morgan Chase Chicago.
Commenting on the appointment, Duffy says: “We are extremely pleased to add the expertise of Mike Dennis, a long-time industry professional, to our leadership team to oversee our significant and growing interest rates business, which increased 14 per cent in Q2.
“As a former trader himself, Mike's deep trading, clearing and prime brokerage knowledge, as well as his hands-on markets experience, will bring a unique perspective to this role that will benefit our clients and our organisation.”
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