Lynne Fitzpatrick, Chief Financial Officer and President of CME Group, the Chicago-based global derivatives market operator, said the company is focusing on key partnerships that can help sustain growth in the global derivatives market.

The Chicago-based derivatives trading platform has recorded record net income for three consecutive years. According to company announcements, full-year 2024 net income was$3.5 billion, compared with$3.2 billionin 2023 and$2.7 billion。

"One of our key focuses has always been: how do we expand our product portfolio, how do we expand our customer base, and how do we continue this growth momentum?" Fitzpatrick said in an interview. "So, we have been focused on finding partnerships that we believe can lay the foundation for our long-term growth trajectory."

Finding the right fit

Fitzpatrick noted that partnerships are one way for companies to expand their business reach, especially in areas where there are growth opportunities but where they may lack "domain expertise."

For example, in August this year, the company announced a partnership with FanDuel, a sports betting and online gaming company owned by Flutter Entertainment, to developevent-based contracts. According to the press release, participants will be able to place "yes" or "no" bets on products (which Fitzpatrick said are planned to launch by the end of this year) with as little as "$1."

Fitzpatrick said the partnership with FanDuel "appeals more to the retail user base," a group that historically has had less exposure to futures or options products, and CME can use this to further expand its retail business.

"This mass retail channel is an extension of the growth drivers we have already observed at CME," she said. "The retail community has been our fastest-growing segment this year, growing about 20% so far in 2025. So, this is just further expanding the potential reach, and doing so in a way that is close to the customer."

According to Fitzpatrick's LinkedIn profile, she joined CME Group in 2006 as Executive Director of Corporate Finance. She has served as Chief Financial Officer of the derivatives marketplace since April 2023 and was appointed to the dual role of Chief Financial Officer and President in November 2024. Before joining CME Group, she worked at UBS Investment Bank and Credit Suisse First Boston.

When seeking partners, one of the key elements companies look for is "complementary skill sets or complementary strengths, which we believe increase the probability of a positive outcome," she said.

However, Fitzpatrick emphasized that alignment in approach and culture is equally crucial when selecting a partner. Signing a partnership agreement is only the first step, but "the more you clarify goals at the outset during the actual execution and ongoing delivery of partnership results," the better it is for both parties, because "it leads to better expectations and delivery quality, since there will be no surprises," she said.

Taking a similar approach in key areas such as compliance, customer strategy, and security is also a fundamental requirement for ensuring smooth operations when seeking new partners.

"We really want to make sure we are aligned on these issues before partnering with another company," Fitzpatrick said. "So, what we truly seek is similarity in approach, and similar views on customer importance and the regulatory environment."

Rigorous technical strategy

Fitzpatrick noted that another key area for successful partnership execution is clear definition on the technology side between both parties, including who is responsible for technology integration.

She cited CME's ongoing partnership with Google as an example. As part of the10-year agreement, Google made a $1 billion equity investment in CME, and CME has migrated most of its infrastructure to Google's cloud environment.

"Currently, all of our data and most of our clearing applications have been migrated to that cloud environment," Fitzpatrick said. "So, we rely heavily on their expertise in infrastructure and connectivity, while relying on our own expertise in operating the marketplace."