Inside these posts: Craig Donohue

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ICE: Exchange mergers a consequence of reforms

Mergers sweeping financial exchanges are in part an unintended consequence of global financial regulatory reforms, the head of IntercontinentalExchange Inc. said Wednesday. Get the full story »

Melissa Bean to be CEO of Executives’ Club

Melissa Bean. (Nancy Stone/Chicago Tribune)

By Becky Yerak and Melissa Harris | Melissa Bean, the Barrington Democrat recently ousted from her U.S. House seat after three terms, has been hired as the new chief executive of the Executives’ Club of Chicago.

Before entering the world of politics, Bean worked in sales and management for high-tech companies, including a Motorola unit, Nortel and Arrow Electronics. She later started her own consulting firm to the tech industry, advising clients that included Anixter, Intel and Microsoft. She was elected to Congress in 2004.

Bean replaces Kaarina Koskenalusta, who resigned from the business forum last October after 25 years at the helm. Get the full story »

Has New York won the derivatives power struggle?

From Forbes | A New York Times article this weekend about how a “secretive banking elite,” as the headline put it, rules the derivatives trade. The story details how a secret cabal of bankers meet regularly with and control the risk committee at ICE Trust, part of the IntercontinentalExchange.

That came as no surprise to Forbes investment writer Emily Lambert. But what was even more interesting to her was the story’s description of the influence the dealers have at CME Group, the exchange company run by Chairman Terrence Duffy and Chief Executive Craig Donohue — indicating that in the long-running derivatives power struggle between New Yorkers and Chicagoans, the New Yorkers have won. Get the full story>>

CME picks exec to run global currency trading unit

CME Group Inc. has hired foreign exchange market veteran Roger Rutherford to head its global currency trading unit from London, according to a person familiar with the situation. Get the full story »

After setbacks, CME chief stakes out new ground

Craig Donohue. (Yoshikazu Tsuno/AFP/Getty Images)

Bruised by two big setbacks this year, the CME’s Craig Donohue is staking out new ground in a landscape ripped up and reseeded by the financial crisis.

CME Group Inc., the world’s largest operator of derivatives exchanges, was an obvious beneficiary of the crisis as regulators clamped down on over-the-counter swaps markets blamed for the 2007-2009 crisis.

But Chief Executive Donohue’s early attempts to clear credit derivatives and on another front, to block limits on speculative commodities trades, have stumbled. Get the full story »

CME ‘pleased’ with Wall St. bill

CME Group Inc CEO Craig Donohue told employees he is “pleased” with many of the provisions in Washington’s financial reform bill, but raised concerns about the leeway it gives regulators.

The U.S. exchange and clearinghouse operator strongly supported a late addition to the bill that “prohibits mandated linkages for clearing houses,” also known as interoperability, Donohue and government relations head Linda Rich said in an internal memo dated June 30 and obtained by Reuters. Get the full story »