The 2016 Tech 50: Craig Donohue

In 23 years with CME Group, the last eight as CEO before retiring in 2012,Craig Donohueput his legal background to work — he has both a JD from John Marshall Law School and a master’s of law in financial services regulation from IIT Chicago-Kent College of Law — on the company’s 2002 IPO and $20 billion-plus in M&A deals. He also spearheaded one of the most aggressive technological transformations in the exchange industry, centered on the now-24-year-old Globex platform. (Donohue ranked No. 2 in the 2011 Tech 50. His successor,Phupinder Gill, is No. 4今年。）退休并没有持续长期：CME的芝加哥邻居期权清算公司来电，并于2014年1月，Donohue将掌舵作为执行主席。全球监管机构于2012年指定了SIFMU（系统性重要的金融市场效用），Donohue跳过机会，使公司组织和技术迅速。“风险管理和资本效率更加引人注目，”Donohue，54，解释。At OCC, which clears an average 17 million options contracts every day on 14 U.S. exchanges, “we pay less attention to the factory aspect and more to how resilient we are, given the financial crisis in 2008, in terms of capital, liquidity, margin coverage and clearing fund resources, so we can perform the obligations we have to our clients.” A new technology team, led by chief information officer Luke Moranda, who joined in March 2015 from JPMorgan Chase & Co.’s treasury services business, is charged with ensuring resiliency — a pillar of Donohue’s strategic plan. For OCC and its clearing members, the business has become highly capital-intensive, requiring $100 billion in margin collateral and a $7 billion mutualized insurance pool as a backstop against failures. Donohue has introduced data warehousing and information analytics to reduce capital needs — for example, by identifying which options positions are driving up costs. “Risk analytics is the next frontier to support clients on their trades and reducing costs,” says Donohue. The tech agenda includes looking at blockchain and distributed ledger, which Donohue sees as potentially “very significant in the central counterparty clearing landscape over the next ten to 15 years.”

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