LONDON, March 8, 2011 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced that it has named Michel Everaert as Managing Director, OTC Solutions. Everaert, 42, is responsible for overseeing OTC pre- and post-trade products. He will be based in London and will report to Laurent Paulhac, Managing Director, OTC Products & Services.
"Michel brings more than 18 years of experience developing a broad set of products in the OTC cash and derivatives markets," said Paulhac. "He will lead our effort to further expand our CME ClearPort product line and related services around our multi-asset class OTC open clearing solutions."
"CME Group offers an outstanding platform to deliver new and innovative products for the rapidly changing OTC marketplace. I look forward to both working and partnering with our clients and the broader industry on the common objective of improving OTC market infrastructure," said Everaert.
Before joining CME Group, Everaert served as Chief Information Officer of IMEX Group, an investment vehicle owned by a subsidiary of the sovereign wealth fund of the State of Qatar. He also has served as CIO of E-commerce at GFI Group, a leading inter-dealer broker, and held senior roles at Logica Ltd., Reuters Ltd. and Dow Jones Telerate.
CME Group provides a broad range of OTC clearing services. Its CME ClearPort service facilitates clearing of an average of 500,000 over-the-counter transactions each day in over 1,000 products, predominantly in energy and agricultural products. The company also provides open clearing services for interest rate swaps and credit default swaps.
As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. CME Group brings buyers and sellers together through its CME Globex® electronic trading platform and its trading facilities in New York and Chicago. CME Group also operates CME Clearing, a leading global central counterparty clearing service, which provides clearing and settlement services for exchange-traded contracts, as well as for over-the-counter derivatives transactions through CME ClearPort®. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk in both listed and over-the-counter derivatives markets.
The Globe logo, CME, Chicago Mercantile Exchange, CME Group, Globex, E-mini and CME ClearPort are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago. NYMEX and New York Mercantile Exchange are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. All other trademarks are the property of their respective owners. Further information about CME Group (Nasdaq: CME) and its products can be found at www.cmegroup.com.
SOURCE CME Group