Nobel Laureate Lars Hansen, ex-Fed Board of Governors member Randall Kroszner join CME’s CMAC

International derivatives marketplace CME Group Inc (NASDAQ:CME) today welcomed two new members to its Competitive Markets Advisory Council (CMAC).

The new members are Lars Hansen, David Rockefeller Distinguished Service Professor of Economics at the University of Chicago and 2013 recipient of the Nobel Prize in Economics; and Randall Kroszner, former member of the Board of Governors of the United States Federal Reserve system and Norman R. Bobins Professor of Economics at the University of Chicago Booth School of Business.


Lars Hansen

CMAC, which was founded in March 2004 by Nobel Laureates Myron Scholes and Gary Becker in partnership with CME Group Chairman Emeritus Leo Melamed, consists of financial experts, including Nobel Prize winners. They CMAC serves as a “think tank” that seeks to develop and provide advice to the CME Board in the form of policy, analysis, position papers and other strategic recommendations on important market issues.

Lars Hansen said:

“I am pleased to be joining the Competitive Markets Advisory Council of the CME Group. I am glad to be part of such a distinguished group of economists and to participate in important conversations about competition and financial markets.”


Randall Kroszner

Randall Kroszner said:

“It is an honor to join the CMAC and this impressive group of economic thinkers. Promoting competition while keeping the markets safe, sound and stable is a crucial balance, and I’m looking forward to taking part in valuable discussions on key issues.”

Current CMAC Members include:

  • John P. Gould, Steven G. Rothmeier Distinguished Service Professor of Economics, University of Chicago Booth School of Business and Chairman of CMAC;
  • Andrew Lo, Charles E. and Susan T. Harris Professor of Finance and Director of the Laboratory for Financial Engineering, MIT;
  • Robert C. Merton, Nobel Prize-Winning Economist and School of Management Distinguished Professor of Finance, MIT;
  • Michael H. Moskow, Vice Chairman and Senior Fellow for the Global Economy, The Chicago Council on Global Affairs;
  • Myron Scholes, Nobel Laureate and Frank E. Buck Professor of Finance, Emeritus, Stanford University;
  • Robert J. Shiller, Sterling Professor of Economics, Yale University and Chief Economist.

The following CME Group senior-level officials also serve as members of CMAC:

  • Terry Duffy, CME Group Executive Chairman & President;
  • Phupinder Gill, CME Group Chief Executive Officer;
  • Leo Melamed, CME Group Chairman Emeritus and Vice Chairman of CMAC;
  • John F. Sandner, CME Group Retired Chairman.

You can view the full announcement from CME Group by clicking here.

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