CME Group, the world's leading and most diverse derivatives marketplace, announced the appointment of Dr. Sung Hee Hong as executive director, head of Korea effective immediately. Dr. Hong will be responsible for developing growth opportunities and customer relationships in Korea, and will report to Julien Le Noble, CME Group Managing Director, Head of Asia Pacific.
"CME Group's business in Asia continues to expand, and we welcome Dr. Hong in his new role leading our efforts to help expand our presence in the Korean market," said Le Noble. "We are confident his deep knowledge of the derivatives industry and his extensive experience with market participants and our exchange partner will help us better meet the needs of our clients and continue to grow our business."
Hong has worked during the last 15 years with companies such as the Korea Stock Exchange (KSE) and the Korea Exchange (KRX). He is highly knowledgeable in his field, having graduated from Seoul National University in 1981 with a Masters in Industrial Engineering, and holds a Ph.D. in Finance from the University of Houston.
CME Group has a long standing relationship with KRX that began in 2008 when both companies signed an electronic trade agreement that allowed for the listing of KOSPI 200 futures on CME Globex. CME Group continues to focus on bringing its expertise and business to countries in Asia with products and partnerships with Bursa Malaysia Derivatives Berhad, Singapore Exchange Limited, National Stock Exchange (India) and Osaka Securities Exchange.
As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. CME Group brings buyers and sellers together through its CME Globex® electronic trading platform and its trading facilities in New York and Chicago. CME Group also operates CME Clearing, one of the world's leading central counterparty clearing providers, which offers clearing and settlement services for exchange-traded contracts, as well as for over-the-counter derivatives transactions through CME ClearPort®. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk in both listed and over-the-counter derivatives markets.
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