CME Group has named Mike Dennis global head of fixed income, effective 5 August.
Dennis will oversee the firm’s largest, most actively traded global benchmark futures and options contracts on SOFR and US Treasuries, including the 30-year bond, 10-, 5- and 2-year notes. He will also lead BrokerTec, the electronic cash trading platform for US Treasury benchmarks, EU, UK and US repo trading.
CME CEO and chair Terry Duffy said, “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.”
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.
During his time at ABN AMRO, Dennis helped to 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 JP Morgan Chase Chicago. Additionally, he has served on several market oversight committees as a member and former member of the CME and CBOT exchanges, respectively.
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