Terrence A. Duffy - CME Group

Terrence A. Duffy is the chairman and chief executive officer of the CME Group. He took over that role when Phupinder Gill retired as CEO at the end of 2016. His contract was extended to run through the end of 2024.
On November 7, 2024, Duffy's contract was extended to run through December 31, 2026.
In November of 2024, Duffy was inducted into the Futures Industry Association's Futures Hall of Fame, which was established in 2005 to commemorate outstanding contributions to the global futures and options community. He is a member of the class of 2025.
He served as executive chairman starting in 2006, assumed the additional role of president when Craig Donohue retired in 2012 and took on the CEO title in January 2017, replacing Phupinder Gill. He joined the CME board in 1995 and served as chairman since 2002 and as vice chairman from 1998-2002.
From the time he joined the exchange in 1981 until he assumed the chairman role in 2002, Duffy was president of his own firm, TDA Trading, Inc.
 
He also serves on the CME Group Competitive Markets Advisory Council.
== Background ==
Duffy's path to the futures industry began when he was a bartender at a Fontana, Wisconsin lakeside tavern called "Chuck's" that was frequented by CBOT and CME traders with summer homes around the Geneva Lake area. In 1984, Duffy bought a CME membership with the help of a $50,000 loan from his parents secured by a mortgage they took out on their home. Shortly after he bought his membership and while working as a broker he incurred a loss of $150,000 because of a misheard order.
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. He served as a member of the board of FXMarketSpace Limited, a joint venture launched in 2006 between CME and Reuters that was shuttered in October 2008.
A June 2003 edition of Crain's Chicago Business referred to Duffy as 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.
He replaced Phupinder Gill as CEO, officially at the start of 2017.
Duffy told his life and career story to FIA CEO Walt Lukken in a FIA Speaks podcast in 2019.
==Political Ties==
Duffy is well known for his involvement in politics and has testified on behalf of the CME Group and the futures industry in Congress. Duffy's grandfather, John J. Duffy, was a Chicago alderman and the president of the Cook County Board.
In 2002, he was appointed by President George W. Bush to serve on a National Saver Summit on Retirement Savings and in 2003 he was appointed by Bush and confirmed by the U.S. Senate as a member of the Federal Retirement Thrift Investment Board (FRTIB), which administers the Thrift Savings Plan, a retirement savings plan for federal employees. He served in this role until 2013.
In July 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, intended to remain a registered Republican, the press release said.
In 2016, he did not endorse either Hillary Clinton or Donald Trump for president.
==Awards and Interests==
In September 2008, Duffy was honored with the Illinois Institute of Technology Stuart School of Business's first-ever Illinois Executive of the Year Award.
In November 2008, Duffy was an honorary committee member of the FIA Futures Cares Charity Dinner where over $300K was raised in support of the Greater Chicago Food Depository.
Duffy serves as co-chair of the Mayo Clinic Greater Chicago Leadership Council and 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.
== Education ==
Duffy attended the University of Wisconsin-Whitewater and quit the school to take a $58 a week runner job at the CME. In 2007, he received a Doctor of Humane Letters from DePaul University.
== Registration Information ==
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== Video Interviews ==
Terry Duffy discusses what 2019 holds for the world’s largest derivatives exchange, covering such topics as political uncertainty, the NEX integration, and following up on a record 2018. Original John Lothian News Article
*Terry Duffy and CNBC’s Maria Bartiromo Talk Credit Default Swaps
*Duffy on Benefits of Credit Default Swaps on Fox Busines
*CME head backs derivatives reform - Oct. 9, 2009
*Terry Duffy talks to CNBC Asia - Sept. 24, 2010
*Terry Duffy on Fox Business on Oil Speculation - May 21, 2011
*Terry Duffy Discusses Position Limits Ruling on Fox Business - Oct. 19, 2011
==Podcasts==
===Inside the ICE House===
===FIA MarketVoice Podcast===
== Speeches ==
*Testimony of Terrence A. Duffy, Executive Chairman, CME Group Inc., Before The Senate Committee On Agriculture, Nutrition & Forestry - December 13, 2011
*CME Group Executive Chairman, Terry Duffy Addresses FIA Chicago, Union League Club, 65 West Jackson Boulevard, Chicago, Illinois, February 26, 2008
*CME Group Executive Chairman Terry Duffy Remarks, The Corporate Council on Africa, U.S.-Africa Agribusiness Forum, Hyatt Regency Hotel, Chicago, Illinois, June 26, 2008
==Resources==
*Wikipedia Page on Terrence A. Duffy
== References ==	
Category: Exchange Chairmen
Category:CME Group Board
Category:CME Group Senior Management
Category:CME Group
Category:CME Members
Category:MarketsWiki Page of the Day
Category:CME Group Competitive Markets Advisory Council Member
Category:MarketsWiki Education World of Opportunity Speaker
Category:CME Group Board of Directors
Category:CME Group Management Team
Category:Futures Hall of Fame Members