WEST PALM BEACH, FL (HEDGECO.NET) – Tina Lemieux has been hired as CME´s new hedge fund managing director, a 10-year CME veteran who previouslyserved as director of CME equity products and worked to develop hedge fund and retail business as head of the CME equity product line. Lemieux willlead a new team designed to expand CME’s global customer base by serving current hedge fund and active retail customers.
Before joining the company in 1995, she worked for Enskilda Securities’ marketing and treasury sales areas in the firm’s London office, where she was responsible for selling foreign exchange products to hedge funds. She also headed the London office of Indosuez Carr Futures, worked as a Marketing Director at Dellsher Investment Company, and served as a futures broker for First Chicago NBD Corp.
Chicago Mercantile Exchange Inc. managed $47.0 billion in collateral deposits in March 2006, including $3.8 billion in deposits for non-CME products. CME is a wholly owned subsidiary of Chicago Mercantile Exchange Holdings Inc.
Rick Redding, the managing director of CME Products & Services commented;â€ÂWe continue to see opportunity to promote the transparency, liquidity and operational efficiencies that trading CME products can bring to the hedge fund and active retail communities,†he explained. “Creating this team will establish a single point of contact for these important client segments, and it will also enable Tina and her team to cross-sell all of CME’s products and services to our existing and prospective hedge fund and retail customers around the world.â€Â
In 2006, the reach of this program has extended again through efforts to reach more broadly into Europe and to also attract new trading volume from Asia. Since 2004 the program has expanded from nine of the largest U.S. trading firms to include 21 trading firms worldwide, including European firms in the United Kingdom, Italy, Switzerland, Holland, Spain, Denmark, and the Czech Republic.
CME has 10 hedge funds that trade as inactive clearing members that are subject to financial reporting requirements and obtain member trading rates. They clear trades through full CME clearing firms.
Of those 10 inactive clearing members, five hedge funds have CME Family of Funds memberships that may receive member trading rates without the need for each fund in the family to become an inactive clearing member. CME also provides plans under which hedge funds can be corporate members, such that they are provided certain privileges of membership, including volume incentives.
The new Hedge Fund and Broker Services group will be assisted by CME’s Europe and Asia offices and will also include Kelly Brown, Director, Hedge Funds and Mark Omens, Associate Director, Broker Services in Chicago.
Alex Akesson
Contributing Writer
HedgeCo.Net
Email: [email protected]
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