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CME Group chairman emeritus to retire from board

Chairman emeritus Leo Melamed will retire from CME Group Inc.'s board of directors at the end of his current term in May.

Following his retirement, he will serve as a consultant to the company for the next two years. After that time, Melamed will keep his title of chairman emeritus.

He became chairman emeritus in 1997 and has been a board member since 1967. Melamed is recognized as the founder of financial futures and introduced the International Monetary Market in 1972.