On November 11, 2016, CME Group announced that Gill would retire from the organization and board on December 31, 2016.
The departure was announced just a year after he had renewed his employment contract to 2019.
He took over the CEO position from Craig Donohue, who retired on May 1, 2012.
Prior to the merger, Gill served as the president and COO of CME Holdings and of CME starting on Jan. 1, 2004. Before that, he was a managing director and the president of the CME Clearing House Division and of GFX Corp., a wholly owned subsidiary engaged in proprietary trading of foreign exchange and Eurodollar futures, since March 2000.
He was the president of CME Clearing House Division from July 1998 to March 2000, senior vice president of the Clearing House Division from May 1997 to July 1998, and vice president from May 1994 to May 1997. Gill has held numerous other positions with CME since 1988, beginning with a job clerking on the floor of CME.
In June 2012, traders working in the open-outcry pits of the CBOT sued CME, claiming new settlement rules were harming their business. On November 1, 2013, Gill testified in a trial concerning the lawsuit and denied that the CME Group changed its settlement rules to give electronic grain traders an advantage over trading floor veterans. Previously, CME settled futures prices for crops such as corn and soybeans based on transactions executed in the pits. According to Gill, the settlement methods changed "to reflect where the activity took place" in electronic markets.
In 2010, Gill was named Executive of the Year in the Finance Executive Hall of Fame by the department of finance at the DePaul College of Business.
Gill received a bachelor of arts in Finance in 1985 and an MBA in 1987, both from Washington State University in Pullman, Wash.
Gill was named Outstanding Chief Executive (Overseas) of the Year at the 2010 Singapore Business Awards. The SBA is jointly organized by The Business Times, Singapore’s leading business daily, and DHL Express Singapore, the express and logistics company. 
Phupinder Gill spoke at the 2015 MarketsWiki Education World of Opportunity Summer Intern Education Series in Chicago.
2016 Exchange CEO Series: CME’s Gill Looking For Customer Efficiencies
CME Group has been focused on global growth, just like every other major exchange. But to get there, the exchange leader believes it has to work with customers to streamline costs so it can expand.
In part one of our two-part interview at the FIA Boca Conference, Phupinder Gill said that the exchange is working on new ways to address capital efficiencies through products such as cleared swaptions, but also new clearing services that will help institutions reduce collateral.
CME is also continuing to work on market disruptors such as blockchain technology, which may change the way in which clearing services are delivered.
Also see Part 2 HERE.
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