CME Group Inc. (CME) Piper Sandler Global Exchange and Fintech Conference June 4, 2026 2:00 PM EDT
Company Participants
Terrence Duffy – Chairman & CEO
Conference Call Participants
Patrick Moley – Piper Sandler & Co., Research Division
Presentation
Patrick Moley
Piper Sandler & Co., Research Division
All right, everyone. Welcome to — I think the session everyone in this room has been looking forward to most. It’s my pleasure to welcome Terry Duffy, Chairman and CEO of CME Group. CME is the world’s largest futures exchange. Terry has led CME, I think, for over 2 decades now, around 2 decades, been a staple of this conference for many, many years. Always appreciate your support and you making the trip up here.
Terrence Duffy
Chairman & CEO
My pleasure, Patrick. Thank you.
Question-and-Answer Session
Patrick Moley
Piper Sandler & Co., Research Division
Yes. Thanks for coming. All right. So I want to start off, let’s just address the elephant in the room. On Friday, the CFTC moved to approve the Bitcoin perpetual futures contract for Kalshi. I know you went on CNBC yesterday. I thought you laid out your case. Can you just maybe for everyone in this audience, what do you think of that ruling and what it means for your business?
Terrence Duffy
Chairman & CEO
Well, first of all, I think the ruling — can you guys hear me okay? Okay. Thanks. It was called in our world was a 40.3. So a 40.3 ruling means it goes up for a full review, meaning that if there is something there that the industry should comment on that’s new or novel or complex, the CFTC does what’s called a full review. They did a review in less than what’s called a self-certification, which is a 40.2. So a self-certification means if there’s no objection in 24 hours, you can go ahead and list
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