CME Group Secures Paul Houston as its Global Head of FX

Global derivatives marketplace, CME Group, has appointed veteran executive Paul Houston as its newest Executive Director and Global Head of Foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (FX) with immediate effect, according to a CME statement.

In his new role Mr. Houston will be be based out of London where he will be tasked with overseeing the development, Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term, and management of the exchange's FX business globally. In this capacity he will be reporting to Sean Tully, the group’s Senior Managing Director, Financial and Over-The-Counter (OTC) Products.

Mr. Houston joins CME Group from Deutsche Bank, having worked at the lender for almost four years in multiple roles – these include stints as its Global Head FX Clearing and European FX Prime Brokerage (FXPB) as well as its Europe, Middle East, and Africa (EMEA) Head – FXPB and OTC Clearing, dating back to 2012.

Additional stops also include Credit Suisse and the Royal Bank of Scotland (RBS), part of a lengthy career spanning eighteen years. He has held senior level roles at both these latter institutions, all of which have been relegated to the FX space, according to information made public on his Linkedin profile.

According to Mr. Tully in a recent statement on the appointment: "We are pleased to welcome Paul to CME Group/ His experience working in senior management roles in FX businesses at major dealers will complement our FX business at CME. He has a demonstrable track record of exceptional client service and business development, and will be a real asset to the business as we look to expand our footprint globally."