CME Group has appointed Cees Vermaas as chief executive of its new European exchange as it looks to branch out into new asset classes.
Vermaas will take the helm on 2 January 2015, leaving his post as Euronext Amsterdam CEO after over four years.
CME’s European platform went live in April this year with 30 foreign exchange futures products and seven biofuel derivatives.
With the largest futures presence in the US, the exchange is aiming to establish itself in Europe through the platform, and launch new products in the near future.
"We are very pleased to welcome Cees to CME Group in this critical role leading and growing our new European derivatives exchange," said William Knottenbelt, CME Group senior managing director, EMEA.
"His deep exchange experience, coupled with his strong understanding of the diverse needs of European market participants for risk management and liquidity access in local jurisdictions, will be a tremendous resource as we look to extend our product offering across multiple asset classes."
Vermaas joined Euronext as director of cash markets in December 2001, before becoming executive director, European sales in 2003.
He then rose to executive vice president, head of European cash markets in 2009 before taking on the chief executive role.