CME Group, the world’s largest and most diverse exchange and the largest regulated marketplace for foreign exchange (FX) trading, today announced that is has expanded its FX team by appointing K.C. Lam as director and head of Asian FX Sales. This new position was created to better serve current and prospective Asia-based customers with a dedicated CME Group FX resource and is also part of an exchange-wide effort to build its presence in the region.
Lam, 45, will be responsible for helping to execute CME Group’s Asian FX business strategy including increasing trading volume and distribution of FX futures and options on CME Globex®, the exchange’s electronic trading platform, further diversifying the company’s customer base and building product awareness across the region. He will report to Derek Sammann, managing director, FX Products and will be based in Singapore.
"CME Group FX is a $79 billion a day global market, and we have made tremendous strides in growing our Asian business with 82 percent volume growth in Q3 2007 versus Q4 2006," said Sammann. "As we work to further extend our liquid and transparent markets to an expanding customer base, we are thrilled to have K.C. with us in Asia. We have grown our team’s presence in the U.S. and in London, and now we are looking forward to serving the specific risk management needs of Asia-based customers and end users with K.C.’s assistance."
CME Group’s FX product line continues to experience dynamic growth. Last quarter, the company delivered record FX volume, which rose 51 percent over the year-ago period to 635,000 contracts per day. According to a recent report published by the Bank of International Settlements (BIS), the global FX market representing $3.2 trillion in daily turnover has shown overall growth of 61 percent from 2004-2007 while CME Group FX has grown 189 percent over the same period.
Since 2005, Lam has served as Head of Sales for ICAP E-Broking in Singapore, where he was responsible for leading the firm’s new and existing product sales efforts throughout the Asia Pacific region. He had oversight responsibility for launching several currency pairs and recruiting 48 new customers, including the seven largest banks in China. Prior to joining ICAP E-Broking, Lam held leadership positions with Siebel Systems, Inc. and Commerce One Inc. with a particular emphasis on Asian operations. He has also held marketing and consulting positions with Oracle Corporation and Booz-Allen & Hamilton.
Lam earned a bachelor’s degree in engineering from National University of Singapore and a master’s in business administration from the University of Hull in the United Kingdom. He is a member of ACI Singapore (The Financial Markets Association of Singapore) and TMA Hong Kong (Treasury Markets Association). He speaks Bahasa Malaysia, Indonesian and Mandarin as well as several Chinese dialects.
CME Group offers the world’s largest regulated FX trading complex and the second largest electronic marketplace for FX trading in the world. The exchange provides users with liquid, transparent markets, guaranteed execution and central counterparty clearing risk management on 41 individual FX futures and 31 options on futures products. Last year, over 114 million FX contracts with a notional value of over $13.9 trillion traded at CME Group. For more information on CME Group FX products, visit http://www.cme.com/fx.