Terrence A. Duffy

From MarketsWiki

Terrence Duffy
Occupation	Executive Chairman
Employer	CME Group
Location	Chicago, Illinois, USA
Web site	www.cmegroup.com

Terrence A. Duffy has served as executive chairman^[1][2] of CME Group since July 2007. Previously he was chairman of the board of both CME and CME Holdings since April 2002 and has served as the executive chairman since October 2006. He is president of TDA Trading, Inc. ^[3]

Contents 1 Background 2 Affiliations 3 Education 4 Registration Information 5 Resources 6 References

Background

Duffy's path to the futures industry began as a bartender at a Fontana, Wisconsin lakeside tavern named "Chuck's" that was frequented by CBOT and CME traders with summer homes around the Geneva Lake area.^[4] In 1984 Duffy bought a CME membership wiht the help of a $50,000 loan from his parents secured by mortgage they took out on their home.

A member of CME since 1981 and a member of the board since 1995, Duffy was vice chairman of the board of CME Holdings Inc., from its formation in 2001 and of the CME Board from 1998 to April 2002. As the company's vice chairman, he served on the executive, compensation, nominating, strategic planning and regulatory oversight committees. Since October 2006, he has served as a member of the Board of FXMarketSpace Limited, a joint venture between CME and Reuters.

A June 2003 edition of Crain's Chicago Business referred to Mr. Duffy was a smooth-talking, flashy dressing hog trader known for his political bloodlines. His grandfather, John J. Duffy, was a 19th Ward alderman and president of the Cook County Board, and his father John J. Duffy Jr., worked in the Cook County assessor's office.^[5]

In 2002, he was appointed by President George W. Bush to serve on a National Saver Summit on Retirement Savings. He also was appointed by Bush and confirmed by the U.S. Senate in 2003 as a member of the Federal Retirement Thrift Investment Board (FRTIB).

In July of 2007, just days after the CME-CBOT merger was completed, Duffy issued a press release endorsing Senator and Democratic Presidential candidate Hillary Clinton for the 2008 election. Duffy, a registered Republican and key Republican Fund Raiser, intends to stay a registered Republican the press release said.^[6][7][8]

In 2005, Duffy and CME CEO Craig Donohue were together honored by SFO Magazine as co-persons of the year and featured on the cover of the monthly publication.^[9]

Affiliations

Duffy also currently serves on the board of World Business Chicago, the board of regents for Mercy Home for Boys and Girls, the board of trustees of Saint Xavier University, the board of directors of the Illinois Agricultural Leadership Foundation, and is co-chair of the Mayo Clinic Greater Chicago Leadership Council. He is also a member of the Economic Club of Chicago, the Executives' Club of Chicago and the President's Circle of the Chicago Council on Global Affairs.

Duffy also serves as a director of the CME Foundation.^[10]

Education

Duffy attended the University of Wisconsin-Whitewater and quit the school to take a $58 a week runners job at the CME.^[11] In 2007 he received a Doctor of Humane Letters from DePaul University.^[12]

Registration Information

• Terrence A Duffy, NFA ID 0055919

Resources

CME Group Web site

References

1. ↑ "Board of Directors”. CME Group. Retrieved on January 19, 2008.
2. ↑ Insider Filings - Terrence A. Duffy. Yahoo Finance. Retrieved on December 27, 2007.
3. ↑ A merger between CME and CBOT has been talked about for decades. CME Magazine. Retrieved on April 30, 2008.
4. ↑ Up from the pits. Forbes. Retrieved on July 30, 2008.
5. ↑ TRADING PLACES. Crain's Chicago Business via Leo Melamed.com. Retrieved on May 12, 2008.
6. ↑ Chairman Terry Duffy Endorses Hillary Clinton for President. CME Group via GWU.edu. Retrieved on April 30, 2008.
7. ↑ Sweet blog extra: Clinton scores endorsement of Terry Duffy, chair of Chicago's CME Group, key LaSalle Street exchange. Chicago Suntimes. Retrieved on April 30, 2008.
8. ↑ Chairman Terry Duffy Endorses Hillary Clinton for President. Hillary Clinton for President. Retrieved on April 30, 2008.
9. ↑ 2005 Co-Persons of the Year. SFO Magazine. Retrieved on April 30, 2008.
10. ↑ CME Foundation. CME Group. Retrieved on January 31, 2008.
11. ↑ Up from the pits. Forbes. Retrieved on July 30, 2008.
12. ↑ Sweet blog extra: Clinton scores endorsement of Terry Duffy, chair of Chicago's CME Group, key LaSalle Street exchange. Chicago Suntimes. Retrieved on April 30, 2008.