CME Group clearing risk head Betsill to leave in early 2025

Betsill, who is currently the chief risk officer of CME Clearing, is set to leave the group in April, according to the firm which said a replacement will be appointed.

A spokesman for CME Group confirmed Betsill is set to leave.

Betsill has been the clearing house’s chief risk officer since August 2015 when he moved to Chicago from London where he had been the chief executive officer of CME Clearing Europe for two years.

Before running the London-based clearing house, Betsill was its chief operating officer for three-and-a-half years.

Prior to joining CME Group in 2010, Betsill was for nearly four years the head of EDX London, the equity derivatives trading platform owned by LSE Group.

Before the London exchange group, Betsill spent nine years as the head of operations at OM, the Nordic exchange group that was later acquired by Nasdaq in 2008 to form Nasdaq OMX.

Betsill was also the chairman of CCP12, the clearing house trade body, from April 2016 to June 2018.

Speaking on a panel in June, Betsill said European regulators should look at customer gross margins in clearing, adding that US regulators were “just as prudent” as their European counterparts.

The head of trade body the FIA personally name-checked in March last year Betsill for helping “the industry through the crisis” after ION Markets was subject of a cyber-attack, leaving 42 banks and brokers unable to process client trades for weeks.

Betsill co-chaired in 2019 the Commodity Futures Trading Commission’s Central Counterparty (CCP) Risk and Governance sub-committee established to advise the US regulator on clearing house risk management and governance.

Chicago-based CME Group extended two weeks ago its chair and chief executive Terry Duffy’s contract by one year to the end of 2026 and announced that Julie Holzrichter has stepped down as chief operating officer to be replaced by Suzanne Sprague.