Introducing CME Europe Ltd
CME Europe Limited will (subject to FCA approval) be a London-based FCA recognised investment exchange (RIE), positioning it in Europe's most important financial centre. It is a wholly owned subsidiary of CME Group with a dedicated Board of Directors and Management Team. As a UK registered company, it operates under English law and will be subject to formal recognition and supervision by the FCA and its successor bodies once approved
We have been guided by the strategic imperatives of transparency, efficiency and simplicity. Embedded is the desire to accommodate regional trading practises while providing transparent price discovery and risk management solutions. So CME Europe is making use of CME Globex, the world's leading electronic trading system linking 150 countries around the world, as its trading platform. Also CME ClearPort will be used to enter block & EFP trades, amongst others, to bring them under the rules of CME Europe and CME Clearing Europe for clearing. We have simplified our membership structure & criteria, including a low, one-off cost to join and supported by one straightforward set of membership documentation.
Clearing services are provided by CME Clearing Europe, an FCA recognised London-based clearing house (RCH) which is also a wholly owned subsidiary of CME Group.
We will offer a range of connectivity options, designed to be efficient as existing CME Globex and CME ClearPort connectivity will be utilised. Participants will have the choice of accessing directly through our global hubs, co-location, one of our clearing firms or via an ISV.
At launch, anticipated for Q2 2013, CME Europe will provide a unique product offering for international customers, starting with FX Futures and becoming multi-asset class in response to customer demand.
CME Europe benefits from the backing, track record and expertise of CME Group, the world's leading derivatives marketplace.
Leadership Team
Robert Ray
Chief Executive Officer
Felix J. Carabello
Head of Strategic Sales
Since joining the company in 1999, Carabello has held positions of increasing responsibility in the Products & Services Division, including most recently serving as Director, Alternative Investment Products. In this role he was responsible for the development of all CME Group alternative investment derivatives, such as weather, housing, energy and economic derivatives.
Before joining the company, Carabello held various trading and sales positions at Credit Lyonnaise Rouse and Griffin Trading. Additionally, he worked on the New York Mercantile Exchange (NYMEX) trading floor.
He attended Kemper Military College, Westminster College and served his country in the United States Army Reserve, retiring with the rank of Captain in 2006.
David Feltes
Chief Operating Officer
Prior to joining the CME, David worked as a Principal for Oliver Wyman, a strategic management consultancy, focusing on exchanges, trading and market structure. Project work included working with the leading post-trade houses in Europe and the US, and he has advised many of the leading financial services firms in the EU, Asia and Middle East.
David began his career at Marquette Partners, LP, a leading proprietary trading firm. At Marquette, David rose from pit clerk to IT Manager to CEO in just over 10 years. During that time, Marquette became one of the leading derivative players of that period, with 100 traders trading over 20 ETD products with leading volumes on 13 different exchanges. As competition and technology changed the prop landscape, Marquette evolved into algorithmic and program trading and he led the expansion into Asian markets.
David is a frequent speaker at industry events, and a founding member of Futures and Options for Kids, an industry fundraiser. He grew up on a farm outside of Chicago, and graduated from Washington University in St. Louis with degrees in economics and political science, as well as graduate course work in financial information technology. He has lived in the UK since 1998, and has dual US and UK citizenship.
Paul Richardson
Chief Compliance Officer
He also managed high profile projects such as the FCA's response to new electricity trading arrangements (NETA) and the application for recognition by NYMEX: latterly the title of technical specialist reflecting appreciation of his wide experience of the commodity markets.
Prior to that Paul spent twenty years trading and broking in the soft commodities and energy markets.
For the last two years Paul was employed at BP in London primarily focused on anti bribery and corruption work in West Africa. During that time he also served on the LME Special Committee.
Between 1994 and 2005 he trained as a Therapeutic Counsellor and has worked in private practice for much of that time and subsequently.
CME Europe News
- 24 Apr 2013
- Navigating Through Regulatory Changes in Europe
- 21 Jan 2013
- CME Europe Update with Robert Ray
- 12 Oct 2012
- CME Europe to debut with 30 forex products
- 6 Sep 2012
- Why London? Our Choice Was Clear
- 5 Sep 2012
- A Big September for the Eurozone
- 14 Aug 2012
- Five Facts About Clearing
Contact Us
To find out more about CME Europe
information@cmeeurope.com
+44 (0)20 3379 3700
Media enquiries
media@cmeeurope.com
+44 (0)20 3379 3830
Ray also served as Senior Vice President, Business Development, of CBOT from 2003. He joined CBOT in 2002 as Vice President, Equity Business Development, where he played a key role in creating a much more business-driven and customer-focused approach within the business development area. Prior to joining the CBOT, Ray served as a Principal at Robertson Stephens Inc. from February 2000 to October 2002, and was responsible for listed derivatives trading and served as Chicago Branch Manager. He also served as Senior Vice President, Institutional Equity Derivatives at Dean Witter Reynolds Inc. from July 1986 until July 1997, continuing with the successor company, Carr Futures, from July 1997 until February 2000 as Senior Vice President and Head of Listed Equity Derivatives.