International derivatives marketplace CME Group Inc (NASDAQ:CME) has announced the promotion of Young-Jin Chang to the role of Global Head of Metals Products.
Reporting to Derek Sammann, Senior Managing Director, Global Head of Commodities & Options Products, Chang will be responsible for the strategic development, management and profitability of the global product suite, including both precious and industrial metals. She will continue to be based in Chicago.
“Young-Jin’s extensive market and customer knowledge will continue to be a tremendous asset as she continues to work with CME Group’s talented Metals team around the world to serve our global customer base,” said Sammann. “Her broad industry experience and track record of successful business building within CME Group will help us further position our Metals business for long-term growth.”
Chang has been with CME Group since 2011. Previously, Chang served as Executive Director, Industrial Metals Products for CME Group. In that role, she was responsible for managing the industrial metals business globally, which includes aluminum, copper, zinc, lead, steel and iron ore. She has also served in various roles of increasing responsibility within the company’s Metals business line.
Prior to joining CME Group Chang was a ferrous alloy trader at the David J. Joseph Company, where she focused on expanding international trading business. She holds a bachelor’s degree in economics from Kalamazoo College and an international MBA from the University of Chicago Booth School of Business.
CME has also appointed Miguel Vias to Senior Director, Head of Precious Metals, where he will be responsible for driving new business and revenue opportunities in the global Precious Metals market for both futures and options. Vias will continue to be based in New York.
CME Group offers a liquid, transparent marketplace for trading a wide range of global benchmark products across precious (gold, silver, platinum, palladium), base (copper, aluminum) and ferrous (steel, iron ore) metals, helping businesses everywhere to mitigate the myriad metals risks that they face. In June 2016, CME Group’s four regional aluminum premium contracts reached nine historical records for volume and open interest, and open interest accumulated to more than 1 million metric tons. Across the metals complex as a whole, an average of 482,599 metals contracts traded each day in June 2016, a 45% increase from the previous year.