The international derivatives market CME Group today announced the appointment of John Ricci as Managing Director and Global Head of Agricultural Products.
Reporting to Derek Sammann, Senior Managing Director and Global Head of Commodities Markets, Ricci will be responsible for leading the development, execution and management of the exchange’s agricultural businesses worldwide. He will be based in Chicago.
Ricci has 25 years of experience in derivatives markets, most recently as Global Head of ETF Trading at Invesco, where he led the team responsible for all equities and alternatives trading for the global ETF business. Prior to that, Ricci was responsible for equity trading in developed, emerging and frontier markets, along with commodity trading for the mutual fund and ETF portfolio at BlackRock.
2023 was a record volume year for all agricultural futures and options, reaching ADV of 1.5 million. These trends continued into 2024, with agricultural ADV posting double-digit growth in April 2024 to 1.8 million, up 16% year-over-year.