CME Group has named the Dubai Mercantile Exchange’s (DME) CEO Christopher Fix as its managing director and head of Asia Pacific.
The US exchange group owns a 50% stake in DME, a commodities exchange launched in 2007, which Fix had run since August 2012.
Fix’s experience in Asia dates back to the early 90s when he operated as head of marketing of commodity futures, Asia, at BNP Paribas.
Fix held the position there until 2012 before joining DME.
Growth into Asia has emerged as one of the key priorities for major derivatives exchanges across Europe and the US.
CME has established a number of strategic partnerships in the region, similar to its deal with DME. These include agreements with Bursa Malaysia, the Korea Exchange and the Singapore Exchange.
"Asia Pacific is a key component of our international strategy and we now generate over 30% of our revenues from outside the US as our global efforts to expand continue to take root," said William Knottenbelt, senior managing director and head of international, CME Group.
“We are excited to have Christopher on board, and we are confident that with his understanding and knowledge of the Asia Pacific markets, he is well-positioned to lead the team in the region, and further drive our efforts to help clients with their risk management needs."