Terry Duffy, executive chairman and president of CME Group, offers insight into the role exchange executives play in the financial markets. "We walk a very fine line," Duffy said. "What we never want to do is disintermediate our futures commission merchants community. ... An exchange used to be just four walls for gathering price. Now you have to go out and cultivate clients. We do that via partnerships with our FCMs and I think it is the most important thing we do."

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