CME Group Appoints New Global Heads for Equity Index and Cryptocurrency Businesses
CME Group has appointed Paul Woolman as Global Head of Equity Index Products and Giovanni Vicioso as Global Head of Cryptocurrency Products, aiming to enhance innovation and growth. Their appointments follow a period of significant growth in these sectors, with Q3 equity index trading volume rising by 46% year-over-year, and cryptocurrency volumes increasing by 45%. These changes aim to better serve clients amidst evolving market demands.
- Equity Index trading saw Q3 average daily volume rise by 46% from the previous year.
- Record ADV of 9.4 million contracts for September, marking a 47% increase from September 2021.
- New leadership expected to drive continued innovation in rapidly growing sectors.
- None.
CHICAGO, Oct. 5, 2022 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced the appointment of two new global heads for its Equity Index and Cryptocurrency businesses to continue driving product innovation and supporting long-term growth.
Paul Woolman, Global Head of Equity Index Products, will oversee the company's Equity Index product portfolio, while Giovanni Vicioso, Global Head of Cryptocurrency Products, will assume responsibility for the company's Cryptocurrency products. Woolman and Vicioso will report to Tim McCourt, who previously led both business lines and was recently named to the CME Group management team as Global Head of Equity and FX Products.
"Our equity and cryptocurrency businesses have experienced tremendous growth in recent years, underpinned by strong customer adoption and continued innovation," said McCourt. "In their expanded roles, Paul and Gio will continue to meet the needs of our clients by providing products and services to manage risk in today's ever-changing marketplace."
Woolman has worked in equity derivatives for more than 20 years. He joined CME Group in 2016 as Senior Director, Head of EMEA Equity Products and Alternative Investments. Prior to CME Group, Woolman served as a Delta One Equity Derivatives Trading Director at Bank of America Merrill Lynch for 11 years, where he managed exposure across futures, ETFs, swaps, and structured products, as well as cash equities and FX. He holds a bachelor's degree in geography from the University of Bristol and an MBA from London Business School.
Vicioso, with nearly 30 years of financial markets experience, joined CME Group in 2012 as Senior Director of Equity Products, in which he also began his involvement in CME Group's Cryptocurrency business. Prior to CME Group, he served as Vice President for RBC Capital Markets' Equity Derivatives Group on their OTC Equity Derivatives desk. Prior to RBC, he worked at Deutsche Bank in the Global Equity Derivatives Division. Vicioso holds a bachelor's degree in mechanical engineering from Rutgers University and an MBA from Columbia Business School.
This new reorganization comes amid a strong surge in growth from CME Group's Equity Index and Cryptocurrency business lines.
Equity Index trading highlights include:
- Q3 futures and options average daily volume (ADV) of 7.4 million contracts increased by more than
46% against Q3 2021. - September futures and options record ADV of 9.4 million contracts increased over
47% against September 2021. - Nearly 17.5 million Tuesday and Thursday E-mini S&P 500 options contracts have traded since launch in March, becoming the most successful options launch in CME Group history.
Cryptocurrency trading highlights include:
- Q3 futures and options ADV of 46.2K contracts increased over
45% YoY against Q3 2021. - September futures and options ADV of 59.6K contracts increased more than
72% against September 2021. - Bitcoin futures ADV of 11.7K contracts increased more than
66% versus Q3 2021. - Bitcoin Euro and Ether Euro futures launched on August 29, and Ether options launched on September 12.
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 and EBS are trademarks of BrokerTec Europe LTD and EBS Group LTD, respectively. Dow Jones, Dow Jones Industrial Average, S&P 500 and S&P are service and/or trademarks of Dow Jones Trademark Holdings LLC, Standard & Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as the case may be, and have been licensed for use by Chicago Mercantile Exchange Inc. All other trademarks are the property of their respective owners.
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SOURCE CME Group
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