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Digital Subscriptions > The Hedge Fund Journal > Issue 140 – Apr | May 2019 > CME Group CCO, Julie Winkler

CME Group CCO, Julie Winkler

Expanding geographic and product coverage

CME Group (which includes four exchanges: CME, CBOT, NYMEX and COMEX and the recently acquired NEX Group) is, as their slogan declares, “the world’s leading and most diverse derivatives marketplace”. It also scores well on various employee diversity metrics, including the fact that roughly 50% of its senior management is made up of women including the Chief Commercial Officer, Julie Winkler. Here Winkler shares insights into her career and role with The Hedge Fund Journal.

“The buy side is key for CME Group, and within that, there are c.1,800 hedge fund clients globally of which c.400 are in Europe and c.200 in Asia,” she says. “Though 2018 was generally a difficult year for hedge funds, CME Group saw its largest three clients – multi-strategy funds – grow volumes by 25%.”

She has organised sales and marketing by customer segment and CME Group has strategically devoted special attention to hedge funds, holding joint events with industry associations such as AIMA and MFA. CME Group also co-hosts events with Futures Commission Merchants (FCMs), which provide customers access to CME Group. “The message is well understood: CME Group is a large, diverse marketplace; offering global access, with strong liquidity and risk management,” she continues.

“Business is growing fastest outside the US, with non-US clients contributing 25% of volume and 30% of revenue. In 2018, Europe registered over 3 million contracts per day, up 14% over the previous year, which is no small feat given the headwinds of Brexit and other regulatory issues.”

CME Group is spreading its wings and building bridges globally: across borders; between physical and futures markets; between cash and futures markets and between OTC and futures markets. NEX founder Michael Spencer described CME Group’s tie up with NEX as the first alliance between a major exchange group and an OTC trading group. “The acquisition of NEX is opening doors as its cashtrading clientele are very complementary to our futures franchise,” comments Winkler. Arbitrage and basis trading amongst platforms have taken place for decades, but the merger now holds out the hope of facilitating and expediting this activity, by streamlining the technology and access points to different global exchanges and clearing houses. “This will be best of breed once it is migrated to our trading platform – CME Globex – and we are very excited about delivering these efficiencies,” she adds.

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Informing the Hedge Fund Community. With access to some of the industry’s biggest names and an astute and talented group of writers and contributors, The Hedge Fund Journal has established itself as a trusted source of information on the hedge fund industry.