Kimberly S. Taylor
|WATCH: CFTC Proposal Poses “Monumental” Challenge to FCMs on MarketsWiki.tv (February 2013)|
|Occupation||President, CME Clearing House Division|
|Location||Chicago, Illinois, USA|
She previously held the same position for CME starting in January 2004, and was managing director, risk management (previously senior vice president under CME's former title structure) in the Clearing House Division, from October 1998 to December 2003. In this role, she managed CME Clearing’s exposure to counterparty risk, including monitoring market volatility, setting minimum performance bond requirements and negotiating cross-margin programs.
Since the CME began clearing all CBOT contracts in January 2004, Taylor has guided the clearinghouse through several crises, including the 2005 failure of Refco and the implosion of Bear Stearns and Lehman Bros. in 2008.
Taylor has held a variety of positions in the clearing house, including vice president, from January 1996 to January 1998 and senior director from July 1994 to December 1996. She joined CME in 1989 as an analyst.
Taylor is also a member of the Women In Listed Derivatives' Steering Committee.
Taylor received her bachelor's degree in 1983 from Alma College, Alma, Mich., and her MBA in 1990 from Eastern Michigan University, Ypsilanti, Mich.
John Lothian News Special Report: Residual Interest, February 2013
A rule proposed by the Commodity Futures Trading Commission (CFTC) designed to strengthen safeguards for customer deposits at futures commission merchants (FCMs) is threatening to overhaul the futures brokerage system.
The proposed “residual interest” provision introduced last fall, and discussed in a CFTC roundtable on February 5, would require substantial increases in margin buffers by FCMs.
The meeting led by Robert Wasserman, chief counsel of the CFTC’s Division of Clearing and Risk, included panelists Mike Dawley of Goldman Sachs and FIA chairman and Kim Taylor, CME Clearing president who argued that the increased margin requirements under the proposal are substantial. Dawley said the rule, if passed in its current form, would be “one of the most monumental events” in his 30 years in the industry.