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Article: Duffy new Merc main man. (Trading Places).(Terrence Duffy new chairman of Chicago Mercantile Exchange)(Brief Article)
- Article from:
- Futures (Cedar Falls, IA)
- Article date:
- June 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 Summit Business Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Despite the old sayings about midstream, rocking boats and what to do when things aren't broken, the board of directors of the Chicago Mercantile Exchange (CME) voted to replace chairman Scott Gordon with Terrence Duffy amid heightened talk of the CME's impending Initial public offering (IPO). Under Gordon's guard, the CME took major steps along the demutualization path toward the IPO. Duffy says he will complete that process.
Duffy began as a clerk at the CME when he was 21 years old. Now 43, Duffy works as a floor trader and president of TDA Trading Inc., a position he admits may have to go by the wayside for the time he holds the chairman position.
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