International derivatives market CME Group today announced the appointment of Mike Dennis as Global Head, Fixed Income.
In this position, Dennis will oversee the largest, most actively traded global futures and options contracts on SOFR and US Treasuries, including the 30-year, 10-year, 5-year and 2-year bonds that allow investors to manage risk across the curve US returns. He will also lead BrokerTec, the world’s most liquid electronic cash trading platform for US Treasury benchmarks, for EU, UK and US repo transactions.
Dennis will report to CME Group President and CEO Terry Duffy and serve on the company’s management team. He will resign from the CME Group Board of Directors effective immediately and will begin his position with the company on August 5.
Tim McCourt will lead all of the firm’s other financial business lines, including equity indices, foreign exchange futures and cryptocurrencies, as well as the EBS spot FX platform, as Global Head, Equities, FX and Alternative Products. He will continue to serve on the company’s Management Team reporting to Duffy.
With 22 years of interest rate trading experience, Dennis joins the CME Group from ABN AMRO Clearing USA LLC, where he served as Principal, Member of the Management Team and Chief Commercial Officer of ABN AMRO Clearing USA, one of the largest global CME Group firms futures clearing, since 2018. During his time at ABN AMRO, Dennis was instrumental in launching a fixed income clearing and repurchase initiative for cash bonds as a member of the Fixed Income Clearing Corporation (FICC).
Prior to this, Dennis was Director of Prime Brokerage and Clearing Services at Societe Generale. He also worked in clearing at Advantage Futures, served as an interest rate negotiator at Peak 6 Investments, and acted as a trader in Eurodollar futures and cash bonds for a proprietary trading firm on the CME open outcry and electronic markets in the early 2000s.
Dennis began his career in 2002 in the Corporate Investment Banking Department of JP Morgan Chase Chicago. In addition, he has served on several market oversight committees as a member and former member of the CME and CBOT exchanges, respectively.
Dennis holds a BA in Economics from Marquette University. It also has Series 3, 63, 7 and 24 licenses.