LONDON, March 8, 2011 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced that it has named Michel Everaert as Managing Director, OTC Solutions. Everaert, 42, is responsible for overseeing OTC pre- and post-trade products. He will be based in London and will report to Laurent Paulhac, Managing Director, OTC Products & Services.
"Michel brings more than 18 years of experience developing a broad set of products in the OTC cash and derivatives markets," said Paulhac. "He will lead our effort to further expand our CME ClearPort product line and related services around our multi-asset class OTC open clearing solutions."
"CME Group offers an outstanding platform to deliver new and innovative products for the rapidly changing OTC marketplace. I look forward to both working and partnering with our clients and the broader industry on the common objective of improving OTC market infrastructure," said Everaert.
Before joining CME Group, Everaert served as Chief Information Officer of IMEX Group, an investment vehicle owned by a subsidiary of the sovereign wealth fund of the State of Qatar. He also has served as CIO of E-commerce at GFI Group, a leading inter-dealer broker, and held senior roles at Logica Ltd., Reuters Ltd. and Dow Jones Telerate.
CME Group provides a broad range of OTC clearing services. Its CME ClearPort service facilitates clearing of an average of 500,000 over-the-counter transactions each day in over 1,000 products, predominantly in energy and agricultural products. The company also provides open clearing services for interest rate swaps and credit default swaps.