People moves: CME hires for OTC
The Chicago Mercantile Exchange has appointed Laurent Paulhac as managing director, over-the-counter products and services. Paulhac, who will report to Rick Redding, the exchange’s managing director, products and services, is responsible for leading the development, execution and management of CME’s global OTC business strategy. He will be based in New York.
“CME ClearPort has grown into a $220 million 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 CEO 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.”