STOCKS | CME CEO Terry Duffy to Step Down as Shares Fall 4% in Pre-Market Trading

CME Group CEO Terry Duffy is set to step down, and the company’s shares fell 4% in pre-market trading. According to Odaily, the move was reported as market news. Duffy has previously said he was “very concerned” about recently U.S. regulator-approved perpetual contracts. He said perpetual contracts have little practical use for institutional investors while exposing retail traders to excessive risk. He also said he “completely disagreed” with the U.S. Commodity Futures Trading Commission’s decision to approve the first crypto perpetual contracts after a rapid review. Duffy warned that perpetual contracts and prediction markets are fueling a wave of retail speculation.