Terrence A. Duffy serves as chairman and chief executive officer of CME Group, the world’s leading derivatives marketplace.
Duffy started out at Chicago Mercantile Exchange in 1980 as a young broker in the hog futures trading pit. A year later he founded his own firm, TDA Trading, and in 1984, he bought a seat on the exchange with help from a mortgage his parents took out on their home.
He joined the CME board in 1995 and served as vice chairman from 1998 to 2002 and as chairman from 2002 onwards, when CME converted itself into a publicly traded corporation. In 2016, he was appointed chief executive officer in addition to his role as chairman.
During his tenure, Duffy helped drive CME’s merger with its crosstown rival the Chicago Board of Trade, completed in 2007, and its acquisition of the New York Mercantile Exchange, owner of both the NYMEX exchange and the Commodity Exchange (COMEX), in 2008.
In 2018, Duffy led the acquisition of NEX Group, a group of trading venues and trade processing services that had been spun out of ICAP, streamlining trading across futures, options, cash and OTC markets. Three years later, he embarked on a partnership with Google Cloud to bring expanded access, new products and greater efficiencies to derivatives markets through cloud technology.
Under his leadership, CME Group has grown to become an industry powerhouse, offering futures, options, cash and OTC products across every major asset class.
Outside of CME Group, Duffy was appointed by President Bush and confirmed by the US Senate in 2003 to join the Federal Retirement Thrift Investment Board (FRTIB), a position he held until 2013.
He currently serves as co-chair of the Mayo Clinic Greater Chicago Leadership Council and is vice chairman of the CME Group Foundation, the charitable arm of CME Group that strives to provide today's students with the education, support and opportunities they need to meet tomorrow's challenges.
