Terry Duffy on the CME's Big Push into Retail Trading
Making market bets on FanDuel.
CEO of CME Group Terry Duffy
Photographer: Eva Marie Uzcategui/Bloomberg Listen to Odd Lots on Apple Podcasts
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CME Group is one of the oldest exchanges around, tracing it's history all the way back to the late 1800s, when it specialized in agricultural commodities. It's best known for things like futures and interest rate swaps that tend to be favored by professional traders. But as retail trading becomes big business, the CME is expanding its footprint in the space, including a recently-announced partnership with sports-betting platform FanDuel. So how does a marketplace that built its reputation on professional hedging and risk management now try to capture the attention of everyday investors? In this episode we speak with Terry Duffy, CME Group chairman and CEO, about the exchange’s push into retail, new competition in the Treasury futures space, and much more.