International derivatives marketplace CME Group today announced the appointment of Mike Dennis as Global Head, Fixed Income.
In this position, Dennis will oversee the company’s largest, most actively traded global benchmark futures and options contracts on SOFR and U.S. Treasuries, including the 30-year bond, 10-, 5- and 2-year notes that enable investors to manage risk across the entire U.S. yield curve. He will also lead BrokerTec, the world’s most liquid electronic cash trading platform for U.S Treasury benchmarks, E.U., U.K. and U.S. Repo trading.
Dennis will report to CME Group Chairman and Chief Executive Officer Terry Duffy and serve on the company’s Management Team. He will resign from the CME Group Board of Directors effective immediately and begin this position with the company on August 5.
Tim McCourt will lead all the company’s other financial business lines including equity indexes, foreign exchange and cryptocurrency futures and options, as well as its EBS spot FX platform, as Global Head, Equities, FX, and Alternative Products. He will continue to serve on the company’s Management Team reporting to Duffy.
With 22 years of interest rate trading experience, Dennis joins CME Group from ABN AMRO Clearing USA LLC, where he served as Principal, member of the Management Team, and Chief Commercial Officer of ABN AMRO Clearing in the U.S., one of CME Group’s largest global futures clearing firms, since 2018. During his tenure at ABN AMRO, Dennis was instrumental in helping the firm 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.
Dennis holds a B.S. in finance from Marquette University. He also has Series 3, 63, 7 and 24 licenses.
