CME Group's Terry Duffy spoke to Business Insider about the exchange's growing retail customer base.
Terry Duffy, CME Group's CEO, said more individual investors are showing interest in managing their own investments.Terry Duffy, CEO of Chicago-based CME Group, said in an interview with Business Insider that more Main Street investors are interested in taking control of their investment portfolios.
Main Street investors are more interested than ever in managing their own investments, and CME Group CEO Terry Duffy is happy to oblige. Duffy's exchanges play an important role in investors' trading strategies. Futures offer a chance to hedge against investments made in the equity market. To be clear, Duffy and CME aren't pitching these new contracts to everyone. Average mom-and-pop investors should leave futures to those who already manage their money, Duffy said. The type of investor CME is targeting with the new contracts is a professional trader that trades between 10 to 30 contracts a day, he added.
That type of work means there's a high cost to acquiring new customers. And considering an individual investor won't have as many assets as a Wall Street firm, it begs the question: Why spend so many resources attracting clients that bring a fraction of the amount of money your typical clients trade?
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