CME Group Appoints Vijay Albuquerque as Chief Risk Officer Amid Record Volumes

CME Group has appointed Vijay Albuquerque as Chief Risk Officer for its Clearing & Post-Trade Services Division, expanding its leadership team during a period of unprecedented growth.

Vijay Albuquerque joins the firm from Citigroup, where he led Counterparty Risk and Portfolio Risk Analytics for its Markets and Banking operations. With more than 20 years of industry experience, he will be based in New York and report directly to Suzanne Sprague, CME Group’s Chief Operating Officer and Global Head of Clearing.

Suzanne Sprague commented, “Vijay’s deep expertise in both derivatives and securities markets will be invaluable as we continue to deliver leading risk management services to our clients. We look forward to the significant contribution he will make as we work to continuously strengthen the clearing efficiencies we provide to the marketplace.”

CME Group Reported All-Time Record Financial Results

The announcement comes in the same week CME Group reported all-time record financial results for the first quarter of 2025. Revenue reached $1.6 billion, a 10% increase compared to the same period in 2024. Adjusted operating income totaled $1.1 billion, while adjusted net income rose to $1.0 billion. Diluted adjusted earnings per share stood at $2.80.

CME Group’s average daily volume (ADV) for the quarter reached a record 29.8 million contracts. Volume growth spanned all asset classes, with commodities up 19% and financials increasing by 12%. Trading outside the United States also surged, reaching a record ADV of 8.8 million contracts, up 19% year-on-year.

Clearing and transaction fees accounted for $1.3 billion of revenue, with the average rate per contract at $0.686. Market data revenue contributed $195 million. The firm held $1.6 billion in cash and $3.4 billion in debt as of March 31, 2025. Dividend payouts during the quarter totaled approximately $2.6 billion, bringing total shareholder returns to $28.6 billion since the adoption of a variable dividend policy in 2012.

CME Group continues to support global market participants through a wide range of futures, options, and OTC offerings. Its exchanges cover interest rates, equity indexes, foreign exchange, energy, agricultural products, and metals. Central clearing services are provided through CME Clearing.

CME Group and S&P Global Sell OSTTRA to KKR

S&P Global and CME Group have entered into a definitive agreement to sell OSTTRA, their jointly owned post-trade infrastructure firm, to investment funds managed by KKR. The transaction values OSTTRA at $3.1 billion in total enterprise value and reflects equal ownership by the two firms, with proceeds to be split evenly following customary adjustments.

OSTTRA was established in 2021 through the combination of CME Group’s optimization businesses—Traiana, TriOptima, and Reset—and S&P Global’s MarkitSERV platform. The company provides post-trade connectivity and workflow solutions for the global over-the-counter derivatives market, spanning interest rates, foreign exchange, credit, and equity products. Its clients include banks, broker-dealers, and asset managers.

Guy Rowcliffe and John Stewart, co-CEOs of OSTTRA, will continue leading the business following the sale. KKR plans to support the company’s expansion by increasing investment in technology and innovation, while maintaining OSTTRA’s role as a core market infrastructure provider.

KKR is making the investment primarily through its North American private equity strategy. After the transaction closes, KKR will launch a broad-based equity ownership program, allowing OSTTRA’s nearly 1,500 employees to share in the firm’s long-term success. KKR has introduced similar ownership initiatives across more than 60 portfolio companies since 2011. The transaction is expected to close in the second half of 2025, subject to customary regulatory approvals and closing conditions.