CME Group Chairman Terry Duffy Says He Has Plenty of Competition
Products traded off exchanges or in Europe offer competition to the CME Group, says Chairman and President Terry Duffy.
CME Group President and Chairman Terry Duffy says his company has plenty of competition, from European and over-the-counter products. He believes the number of futures commission merchants will grow even though it has been shrinking in recent years as smaller companies struggle with increasing regulation, ceding more of the market to big banks like Goldman Sachs and JPMorgan Chase. Duffy also discusses market volatility and whether CME Group needs it to profit. In Duffy's view, record low interest rates and record high prices for stocks create enough of a demand for the type of risk management products the CME offers.
