Derivatives exchange company CME Group has named former NYSE Euronext Amsterdam CEO Cees Vermaas as managing director and CEO of CME Europe Ltd., its London-based derivatives exchange, according to a CME Group statement.
When Vermaas steps into his new role on Jan. 2, 2015, he will report to William Knottenbelt, CME Group senior managing director, Europe, Middle East and Africa (EMEA). His appointment as CEO of CME Europe Ltd. is subject to regulatory approval.
Vermaas will be responsible “for the ongoing build-out of CME Europe to meet the needs of customers in the European marketplace, following the exchange’s initial launch in April 2014 with 30 FX futures and seven biofuel products,” according to the statement.
Prior to joining CME Group, Vermaas worked at NYSE Euronext, a tenure that began in 2002. In addition to his post as CEO, he served as executive vice president, head of European cash markets, among other roles.
“We are very pleased to welcome Cees to CME Group in this critical role leading and growing our new European derivatives exchange,” says Knottenbelt in a statement. “His deep exchange experience, coupled with his strong understanding of the diverse needs of European market participants for risk management and liquidity access in local jurisdictions, will be a tremendous resource as we look to extend our product offering across multiple asset classes.”
The CME Europe exchange is just one of several recent investments by CME Group in expanding its European infrastructure. Earlier this year in February, the CME European Trade Repository began operations, and in 2011 CME Clearing Europe began providing clearing services for over-the-counter (OTC) commodity and financial products.
Need a Reprint?
Leave a Reply