Lynne Fitzpatrick, president and chief financial officer at derivatives marketplace CME Group, has been named as successor to  derivatives marketplace to chief Executive Terry Duffy in March 2027.

CME said in a statement on 17 June 2026 that Duffy will transition to executive chairman next year. He said in a statement: “With more than 20 years of strategic and financial expertise and strong leadership abilities, Lynne is the right person at the right time.”

End of an era – Terry Duffy of @CMEGroup is stepping down! Informally known as the "sixth commissioner", he (& CME more broadly) have historically had enormous influence on the CFTC. Interesting development at a critical time.

— Katherine Kirkpatrick Bos (@kkirkbos) June 17, 2026

Duffy (during the exchange consolidation wave – every seat / vote mattered to close deals) was a savvy and shrewd negotiator and a very good businessman https://t.co/znXf28ZYce

— Mojo (@MrMojoRisinX) June 17, 2026

I am sad to see my old friend Terry Duffy is stepping down as CEO of CME. I helped Terry get elected in O2, he has guided the exchange through huge change and historic growth. I wish Terry and CME the best in this transition and in the future. https://t.co/vMYbcjERYY

— PaxTrader777🇺🇸 (@paxtrader777) June 17, 2026

CME Group's CEO Terry Duffy will step down in March 2027, marking a significant leadership transition that could influence the future regulatory landscape and institutional engagement in crypto markets.

— Friday🔱Maxi (@MaxiOrdinals) June 17, 2026

 

Fitzpatrick said the exchange group has been aiming to extend its product set and client base in an interview in November last year with CFO Dive. She said in the interview. “So we’ve been focusing a lot on partnerships that we think are going to set us up for that long term growth trajectory.”

In August last year CME and FanDuel said they were partnering to develop products and expand access to financial markets for millions of customers of the online gaming company in the United States. Last December they launched a prediction markets platform in five U.S states as the first phase of expansion to other states this year.

The platform will offer event contracts in all 50 states on benchmarks such as the S&P 500 and Nasdaq-100, prices of oil and gas, gold, cryptocurrencies, and key economic indicators such as GDP and CPI. In addition to financial markets, sports contracts will be available across baseball, basketball, football, and hockey in states where online sports betting is not yet legal, except on tribal lands.

Fitzpatrick said in statement at the time that CME Group prediction markets will enable a new generation of users to express their views on global benchmarks, economic indicators, sports and more. She added: “This launch is a pivotal step for expanding the reach of our products to FanDuel’s millions of registered users across the U.S.”

In its first quarter results for 2026 CME reported that prediction markets activity has continued to grow with over 215 million event contracts having traded since the early December 2025 launch through all its participants, including over 35 million markets-related event contracts

CME also extended its partnership with Google Cloud in June 2024 with plans to build a new private Google Cloud region, and a co-location facility, in Aurora, Illinois. Fitzpatrick told CFO Dive that all of CME’s data and the majority of its clearing applications have moved into Google’s cloud environment. She added: “So we are very much relying on their expertise in infrastructure and connectivity and our expertise in running the markets themselves.”

In the first quarter results for this year CME said it is advancing the Google partnership to begin livestock trading in the cloud with its new environment in Dallas

Dallas will serve as a training ground for CME’s cloud environment at the Aurora facility, according to the results presentation. CME said: “This environment will provide a critical testing ground for our clients in advance of some agricultural products migrating to the cloud by the end of the year pending completion of testing.

Biography

Fitzpatrick was appointed to her current role in 2024 after previously serving as chief financial officer since 2023. On LinkedIn she said that since joining the company in 2006, she has held positions of increasing responsibility, including chief financial officer, deputy chief financial officer, managing director of corporate development and treasurer.

She said: “Before joining CME Group, I started my career as an investment banker at Credit Suisse and UBS, experiences that gave me a solid foundation in finance that I carry with me to this day.I am a proud alum of Brown University, where I earned my bachelor’s degree in economics. Later, I completed my MBA with honors from the University of Chicago Booth School of Business.In July 2025, I was honored to be named a Notable Leader in Finance by Crain’s Chicago Business, following my previous inclusion on their 40 Under 40 list.”

When Fitzpatrick was on the 40 Under 40 list in 2017, Crain’s Chicago Business wrote that when she took family road trips as a child, her father tested her deductive reasoning and math skills as he drove, which was good preparation for a career in finance.

Rumi Morales, who formerly led CME’s venture fund and reported to Fitzpatrick, told Crain’s Chicago Business: “She is just extremely competent, thoughtful and resourceful. She listens and she solves problems. In a corporate bureaucracy, it can be challenging to get things done, but she does, and everyone admires her for it.”

Orderly CEO succession at a literal monopoly on rate and equity vol? Bears will call it "uncertainty." CME calls it Tuesday. Fitzpatrick built the balance sheet that funds the moat: this is an upgrade dressed as a transition. $CME pic.twitter.com/JcuM7T4JAB

— 13F Pro (@13F_Pro) June 17, 2026

Financials

CME reported record revenue of $1.9bn for the first quarter of 2026, up 14% year-on-year.  Average daily volume for the first quarter increased 22% to a record 36.2 million contracts, including records in all six asset classes.

“Efficiencies provided to our client base also hit a new high in Q1 with over $85bn in average daily margin savings, and we’re very pleased to further extend our FICC cross-margining agreement to end-user clients,” added Duffy. “Looking ahead, innovation remains central to our growth strategy.”