CME Group Appoints John Ricci as Managing Director and Global Head of Agricultural Products
CHICAGO, June 3, 2024 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced the appointment of John Ricci as Managing Director and Global Head of Agricultural Products.
Reporting to Derek Sammann, Senior Managing Director and Global Head of Commodities Markets, Ricci will be responsible for leading the development, execution and management of the exchange's agricultural business globally. He will be based in Chicago.
"We are pleased to welcome John to CME Group," said Derek Sammann, Senior Managing Director and Global Head of Commodities Markets. "Our benchmark agricultural products play a vital role in the global economy, helping our customers manage risk as increasing uncertainty continues to drive record activity in our agricultural markets. John has a strong background in working with institutional clients across commodities and ETF markets, which will be an asset as we build upon the strong foundation of our robust commercial and end-user customers to further expand our client base in these essential markets."
Ricci has 25 years of experience in derivatives markets, most recently serving as Global Head of ETF Trading at Invesco, where he led the team responsible for all equity and alternative trading for the global ETF business. Prior to that, Ricci was responsible for equity trading across developed, emerging and frontier markets, along with commodity trading for the mutual fund and ETF complex at BlackRock.
2023 was a record volume year across the agricultural futures and options complex, reaching ADV of 1.5 million. These trends have continued into 2024, with agricultural product ADV achieving double digit growth in April 2024, reaching 1.8M, a 16% increase year-over-year.
As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners.
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SOURCE CME Group