The Chicago Mercantile Exchange (CME) Group has kicked off its international expansion with the hire of Taylor Wessing partner Adrienne Seaman as legal director and associate general counsel for Europe, the Middle East and Africa (Emea).
Until now the CME Group has covered the Emea region with 15 lawyers based in Chicago, but it is looking to expand its legal function in the Emea timezone.
Seaman said: “I think that the CME Group has made it quite clear that it sees a lot of its expansion in the Emea region, although obviously in this market it’s a challenge and we need to focus on the long term.”
The group has no plans to set up a formal Emea panel at the moment, but associate director, foreign exchange products Jeremy Hughes said it would be looking at “obtaining advice efficiently” in relevant territories.
The CME Group is the world’s largest derivatives exchange. In August the group bought the New York Mercantile ;Exchange (Nymex) and in 2006
it ;acquired ;London-based trading platform Swapstream.