CME Announces Numerous Promotions in IT

The Chicago Mercantile Exchange (CME) announced a slew of management changes last Friday. A total of 23 employees were promoted. Their new roles take effect February 18. Among the IT employees promoted are…

• Kevin Kometer is now managing director and deputy CIO. Kometer, 42, is responsible for the development and quality management of CME trading systems for both options and futures trading, both on the trading floor and on the CME Globex electronic trading platform.  He reports to CME Managing Director and Chief Information Officer James Krause. Kometer previously served as managing director of trade execution systems. Before joining the CME in 1994, he held technology roles at The Board of Trade Clearing Corporation and Continental Bank.  He earned a bachelor’s degree in computer science and math from Northern Illinois University.
• As the CME’s managing director of technology engineering, John Hart oversees the organization’s technical infrastructure and support systems. Hart, 42, reports to CIO Krause and previously served as director of technology engineering.  Prior to joining the CME in 1996, Hart managed technical services for Chicago clearing firm First Options.  He also held technology roles at the John D. and Catherine T. MacArthur Foundation, Fossett Securities Corporation, Businessland and Compco Computers.  He is a member of the Sprint Communications Finance and Investing executive board and a member of the Hewlett Packard/Tandem Executive Council.  Hart earned a bachelor’s degree in industrial management and electrical engineering from the Milwaukee School of Engineering and an MBA degree from Lake Forest Graduate School of Management.
• Joseph Panfil, managing director of enterprise technology services, is in charge of computer operations, distributed computing, information security and the CME’s change control and risk evaluation processes. He most recently held the title of director. Panfil, 44, reports to Krause.  He joined the CME in 1997 from First Options and previously worked for Tradelink and Rich Inc.  He earned a bachelor’s degree in electronic engineering technology from Purdue University.
• Richard Chandler takes on responsibility for all front-end technology applications, including the CME iLink connection to the CME Globex electronic trading platform, as well as exchange market data, price reporting, Internet, eCommerce, quality assurance and wireless trading floor technology groups, as managing director of front-end systems technology.  Chandler, 45, reports to Kometer. He was previously the director of front-end systems.  He joined the CME in 2001.
• James Farrell goes from director of match engine development to managing director of that function. In his new capacity, Farrell, 40, is responsible for the development and integration of CME electronic trading systems’ matching engine and surveillance tools.  He also oversees day-to-day support for CME production, quality assurance and development systems, including support for NYMEX and COMEX products on CME Globex and CME’s 50/50 joint venture with Reuters, FXMarketSpace.  Farrell reports to Managing Director & Deputy Chief Information Officer Kevin Kometer. He was hired by the CME in 1987.
• Julie Holzrichter, director of Globex services and technology integration, was named managing director of that function, which runs customer support for the Globex trading platform. Holzrichter, 38, also oversees project management for the Globex customer support center; connectivity services, certification environments and quality assurance for CME Globex; as well as trading floor technology.  She reports to Maz Chadid, the CME’s managing director of operations. She worked for the CME for 17 years in market and tradition operations before leaving and then later rejoining the exchange in 2006. 
• Francis Cote was bumped up from associate director to director of Tandem technical services. As his title suggests, Cote, 55, is responsible for the performance, maintenance, installation and support of the CME’s Tandem computers and corresponding applications.  He reports to CME Managing Director of Technology Engineering John Hart.  Before joining CME in 1998, Cote served in technology roles for Alliance Software, Tandem Computers, IBM and the AB Dick Company.
• Also making the move from associate director is Michael Duff, who oversees CME order entry applications, customer documentation, metrics, monitoring and analysis as the director of front-end systems technology. Duff, 35, reports to the other director of front-end systems technology, Mark Ainis.  Before joining CME in 2003, Duff worked as a technology consultant and systems architect for a variety of Chicago clients. He earned a bachelor’s degree in computer science from the University of Illinois.
• As the director of Network Services, Jim Messner is in charge of the design, implementation and support of CME local area networks, wide area networks, wireless networks and network management infrastructure. He reports to CME Managing Director of  Technology Engineering John Hart. Messner, 42, held a variety of technology-related positions at First Chicago and the Board of Trade Clearing Corporation before joining CME in 1995.
• Donna Nehila moves from associate director of systems development to director of match engine development, responsible for managing all development efforts for Eagle, the primary CME Globex match engine. Nehila, 38, reports to CME Managing Director of Match Engine Development James Farrell. She joined the CME in 1999 after serving as a clerk for an independent trader. She also previously worked for two brokerage firms, KPS Investments and T. Christopher Phillips. She earned her bachelor’s degree in business administration from the University of Puget Sound and an MBA in management information systems from DePaul University.
• Vince Ramirez oversees the CME’s regulatory compliance and exchange fee systems as its director of regulatory and administrative systems. Ramirez, 50, reports to Phil Papesh, the CME’s director of technology. A long-time employee of the CME, he joined the company in 1979.

In January, the CME announced the executives who would retain their positions after the company’s merger with the Chicago Board of Trade.