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Terrence A. Duffy

Chairman and CEO at CME GROUP
Board
Since November 2016
Age
66 years
Education
Has an academic background from the University of Wisconsin-Whitewater and earned honorary degrees including a Doctor of Public Service from Saint Xavier University in 2019 and a Doctor of Humane Letters from DePaul University in 2007.
Tenure
Began his association with CME in 1981 as a member, joined the board in 1995, and has served in key roles including Vice Chairman, Executive Chairman, Executive Chairman and President, and now as Chairman and CEO since November 2016.

Also at CME GROUP

BTD
Bryan T. Durkin
Board Member
JM
Jonathan Marcus
Senior Managing Director and General Counsel
JW
Julie Winkler
Chief Commercial Officer (CCO)

About

Terrence A. Duffy is a 66-year-old executive who has demonstrated long-term leadership at CME Group, beginning his journey as a member in 1981 before joining the board of directors in 1995.

Throughout his distinguished career at CME, he has held a series of progressively responsible roles—from serving as Vice Chairman to Executive Chairman and President, and ultimately assuming the role of Chairman and Chief Executive Officer in November 2016.

In addition to his leadership at CME, his strategic vision has steered significant milestones, including the pioneering demutualization and public listing of the exchange, orchestrating key mergers and acquisitions, and spearheading the landmark Google Cloud partnership in 2021. His contributions also extend to public service, exemplified by his tenure on the Federal Retirement Thrift Investment Board from 2003 to 2013.

$CME Performance Under Terrence A. Duffy

Past Roles

OrganizationRoleDate RangeDetails
CME Group Executive Chairman and President May 2012 - November 2016 Stepped down upon promotion to Chairman and CEO
CME Group Executive Chairman October 2006 - May 2012 N/A
CME Group / CME Holdings Chairman of the Board April 2002 - October 2006 Oversaw board responsibilities for both entities
CME Holdings Vice Chairman of the Board August 2001 - April 2002 N/A
CME Group Vice Chairman of the Board 1998 - April 2002 N/A
TDA Trading, Inc. President 1981 - 2002 Pre-CME experience

External Roles

OrganizationRoleDate RangeDetails
Mayo Clinic Greater Chicago Leadership Council Co-Chair N/A N/A
CME Group Foundation Vice Chairman N/A N/A
Economic Club of Chicago Member N/A N/A
Executives' Club of Chicago Member N/A N/A
Chicago Council on Global Affairs (President's Circle) Member N/A N/A

Fixed Compensation

Data from  FY 2023
Component NameAmountPayment ScheduleAdditional Details
Base Salary$2,000,000 AnnualFixed annual salary for 2023.
401(k) Company Contribution$9,900 AnnualContribution to 401(k) plan.
Supplemental Plan Contributions (401(k) & Pension make-whole)$899,764 AnnualFor compensation exceeding statutory limits under Section 401(a)(17).
Other Compensation$1,210 AnnualIncludes life insurance premiums with no additional supplemental life and long-term disability payments incurred.

Performance Compensation

Data from  FY 2023

Performance Shares – TSR

MetricDetailsCitation
Performance MetricTSR relative to the S&P 500
Performance Period2024-2026
Threshold Shares7,253
Target Shares14,505
Maximum Shares29,010
Payout ConditionsBelow 25th percentile: 0%; 25th percentile: 50%; 50th percentile: 100%; 75th percentile or above: 200% (capped at 100% if absolute TSR is negative)
Grant DateSeptember 15, 2023
Grant Date Fair Value$3,427,096
Grant Date Stock Price$236.27
Vesting ScheduleVests in full after the three-year performance period (2024-2026)

Performance Shares – Net Income Margin (NIM)

MetricDetailsCitation
Performance MetricAbsolute Net Income Margin Performance
Performance Period2024-2026
Threshold Shares7,253
Target Shares14,505
Maximum Shares29,010
Payout Conditions50% payout if at threshold, 100% if target met, 200% if maximum achieved
Grant DateDecember 5, 2023
Grant Date Fair Value$3,167,022
Grant Date Stock Price$218.34
Vesting ScheduleVests in full after the three-year performance period (2024-2026)

Annual Equity Awards Summary

  • Composition: 50% performance shares (as detailed above) and 50% time-vested restricted stock.
  • Restricted Stock Vesting: Vests ratably over a four-year period.
  • Evaluation Period: Performance for both TSR and NIM components is evaluated over 2024-2026.
  • Additional Conditions: Performance shares are subject to adjustments based on actual results; for TSR, if the company’s absolute TSR is negative the maximum payout is capped at the target level (100%).

Interviews

CME Group CEO Terry Duffy: Investors need to pay closer attention to the Fed's comments thumbnail

CME Group CEO Terry Duffy: Investors need to pay closer attention to the Fed's comments

CNBC Television
3:54 min
Feb 14, 2024
'Whole host of other factors' outside of tariffs driving volatility, says CME Group's Terry Duffy thumbnail

'Whole host of other factors' outside of tariffs driving volatility, says CME Group's Terry Duffy

CNBC Television
6:34 min
Apr 23, 2025
The CME's Terry Duffy on the Big Risks He's Seeing Now | Odd Lots thumbnail

The CME's Terry Duffy on the Big Risks He's Seeing Now | Odd Lots

Bloomberg Podcasts
51:19 min
May 15, 2023
CME's Terry Duffy on market trends, innovation and opportunity thumbnail

CME's Terry Duffy on market trends, innovation and opportunity

FIA
21:15 min
Oct 16, 2023
CME Group’s Terry Duffy Reflects on Career, CME Civic Leadership and Dreams for Exchange Group thumbnail

CME Group’s Terry Duffy Reflects on Career, CME Civic Leadership and Dreams for Exchange Group

John Lothian News (JLN)
7:22 min
Mar 23, 2025
CME Group CEO Terry Duffy reacts to Fed decision, A.I. and more thumbnail

CME Group CEO Terry Duffy reacts to Fed decision, A.I. and more

CNBC Television
6:50 min
Jul 26, 2023
The way the market is discounting geopolitical risk is a tragic mistake, says CME CEO Terry Duffy thumbnail

The way the market is discounting geopolitical risk is a tragic mistake, says CME CEO Terry Duffy

CNBC Television
4:15 min
Nov 19, 2024
CME Group CEO Terry Duffy says companies need to be vigilant in managing risk thumbnail

CME Group CEO Terry Duffy says companies need to be vigilant in managing risk

CNBC Television
3:13 min
Jun 21, 2023
CME Group CEO Terry Duffy on record quarter thumbnail

CME Group CEO Terry Duffy on record quarter

CNBC Television
2:32 min
Jul 24, 2024
FMQ 2024: A Conversation with Terrence Duffy, Chairman and Chief Executive Officer, CME Group thumbnail

FMQ 2024: A Conversation with Terrence Duffy, Chairman and Chief Executive Officer, CME Group