CME Group, the preeminent derivatives marketplace, has announced the appointment of John Ricci as the Managing Director and Global Head of Agricultural Products.
Ricci will report directly to Derek Sammann, Senior Managing Director and Global Head of Commodities Markets. In his new role, Ricci will spearhead the development, execution, and management of CME Group’s agricultural business on a global scale. He will operate from the company’s Chicago office.
“We are delighted to welcome John to CME Group,” stated Derek Sammann. “Our benchmark agricultural products are crucial to the global economy, aiding our clients in managing risk amidst rising uncertainty, which has fueled unprecedented activity in our agricultural markets. John’s extensive experience with institutional clients in commodities and ETF markets will be invaluable as we strengthen our robust commercial and end-user customer base and expand our reach in these essential markets.”
Ricci brings 25 years of experience in the derivatives market to his new position. He previously served as Global Head of ETF Trading at Invesco, where he led a team responsible for all equity and alternative trading within the global ETF business. Before his tenure at Invesco, Ricci managed equity trading across developed, emerging, and frontier markets, as well as commodity trading for BlackRock’s mutual fund and ETF complex.
The year 2023 marked a record volume for the agricultural futures and options complex at CME Group, with an average daily volume (ADV) of 1.5 million contracts. This upward trend has continued into 2024, with agricultural product ADV seeing a 16% year-over-year increase in April, reaching 1.8 million contracts.
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