YouSaid · the spoken record

Terry Duffy

lines on the record: 63
first: 2025-10-02
most recent: 2025-10-02
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“And if another investor is going the same direction, there's reasons why Oracle went up 30% two weeks ago after their announcement. Why? Because no one wanted to get run over by a freight train. But you need speculation in order to increase investment.”
2025-10-02 · Odd Lots · Terry Duffy on the CME's Big Push into Retail Trading · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I think there's some truth to that, but I think that's a pretty broad brush. Should people be able to trade anything they want and anything they want? I think you. Listen, regulation breeds credibility to any product. And if it's not regulated to a point, and it's the Wild West, somebody's going to get hurt. And that's not what a company like mine that I'm the chairman and CEO of, and I have been for the last 23, 24 years now. That's not something that I would want to bring forward into this company. You said something else that I, and I'm going to get back to the regulatory part, but you said something really interesting. Is it investing or is it speculating? Let me ask a question. This is rhetorical. You ever see an investment that doesn't have if you're making an investment, you need somebody to take the opposite side of that trade.”
2025-10-02 · Odd Lots · Terry Duffy on the CME's Big Push into Retail Trading · IDENTIFIED FROM THE TRANSCRIPT · source
“Of course, we do. But then we'll have access to lay off that risk in the primary markets. And that's the big difference with our offering. So we will be offering our deep liquid products and we'll have events with them. So our market makers will seamlessly be able to offset these contracts.”
2025-10-02 · Odd Lots · Terry Duffy on the CME's Big Push into Retail Trading · IDENTIFIED FROM THE TRANSCRIPT · source
“You know, small contracts can be small, Tracy, but as you know, you trade enough of anything that small turns into something big. I'm sure you.”
2025-10-02 · Odd Lots · Terry Duffy on the CME's Big Push into Retail Trading · IDENTIFIED FROM THE TRANSCRIPT · source
“They will be centrally cleared through CME's clearinghouse. So, yes, they will be. The market structure will not look too dissimilar to what we have today. The market participants, we have multiple market makers versus where some of our competitors have a single market maker doing this. We will have, as you know at CME Group, we have a lot of market makers in our different products. They will have access to these event contracts, and they will create the liquidity throughout the day. And we will incent them to make sure that the participants have a tight, deep market. So that's basically how it'll work, Dracy.”
2025-10-02 · Odd Lots · Terry Duffy on the CME's Big Push into Retail Trading · IDENTIFIED FROM THE TRANSCRIPT · source
“Great question, Joe. So, what we're going to do is we'll probably run three events a day. Say gold. We'll run three events a day for crude oil. We'll run three events a day for the SP 500. We'll run three events a day for some of our other asset classes, treasuries. And these will be multiple events, but they're only going to be an hour long. But we'll probably run three to four sessions every day. So there'll be an hour per session. And that will run five days a week for markets. And if in fact FanDuel wants to put sports up there, as you know, those are weekend events as well.”
2025-10-02 · Odd Lots · Terry Duffy on the CME's Big Push into Retail Trading · IDENTIFIED FROM THE TRANSCRIPT · source
“And you will see as the opening of that event starts where the price is set and it might be set at 50 cents, it's going to be above it because it's kind of in the middle. Or if it's higher, it might be 80 cents to say it's So you'll have people taking both sides expressing their interest on the value of gold, which will also give us the ability, because we have the liquidity providers in our core asset classes. So the deep pulls of liquidity with this will be amazing”
2025-10-02 · Odd Lots · Terry Duffy on the CME's Big Push into Retail Trading · IDENTIFIED FROM THE TRANSCRIPT · source
“So, Joe, yes, it's similar to that. So, today Fandule is set up a little bit different than some of their competitors. They don't have one app for all different services. They have single apps for different services where some of the other ones have different apps. And for whatever reason, they feel it's an advantage. So there will be a markets app, a fan dual markets app powered by CME Group when you open up their homepage. You'll go to that app. And then you'll see in there we'll have potentially three to four event contracts a day per asset class. The events will go on for approximately 60 minutes. They're not like a sporting event that goes on throughout the event. It will be a 60 minute window. Then we will say, will the price of gold be above or below $3,700 an ounce?”
2025-10-02 · Odd Lots · Terry Duffy on the CME's Big Push into Retail Trading · IDENTIFIED FROM THE TRANSCRIPT · source
“I think it's 2050 from the existing population to people of the age of 40 to 24. $85 trillion of wealth transfer. Those people want to be in control of their own destiny. Why? Because they've grown up in control of their own destinies today, that age group, whether it's through the apps on their phone or other things. So I think having access to all different constituencies is really important. And so I'm excited by the future of this marketplace.”
2025-10-02 · Odd Lots · Terry Duffy on the CME's Big Push into Retail Trading · IDENTIFIED FROM THE TRANSCRIPT · source
“Primarily by artificial intelligence stocks over the last 48 months, for sure. There's no other stocks really participating to weigh NVIDIA and some of the other big ones are. So my point being is today, the guy that would never be able to trade futures because he's got a $500 account or a thousand dollars account, or that's what he has available to participate. And now we're able to give him the technology that Goldman Sachs may or may not have, that some of the biggest hedge funds in the world may or may not have, how he or she deploys that is up to them. But they're going to have access to that technology. That's why these worlds are colliding. And I think it's massively exciting about the future. And people, listen, we're going to have the biggest wealth transfer by 2040. We're going to have $80 trillion go from...”
2025-10-02 · Odd Lots · Terry Duffy on the CME's Big Push into Retail Trading · IDENTIFIED FROM THE TRANSCRIPT · source
“Retail participants want to be able to participate, but they really couldn't participate at the size of a contract that deinstitutions can. So we customized over the last several years smaller and smaller contracts, whether we went from e-minis to micros and potentially nanos. Now we're looking into the prediction markets going forward. Why is that? Well, there's a host of reasons, but like I said, technology, and let's talk about it again, artificial intelligence. It's the hottest thing God put on the planet right now as far as financial services go because otherwise the stock market would not be trading where it's at today because the market has been driven.”
2025-10-02 · Odd Lots · Terry Duffy on the CME's Big Push into Retail Trading · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, the partnership is really interesting from a whole host of reasons. I believe that the market in general has changed and the evolution of the market has changed. The participants have changed. And we can all determine why that is. We can listen to what Joe said in his opening about how traditional exchanges want to have the gaming clients in their world or we could say that the gaming clients want to have the traditional finance people in their worlds. These worlds have been clashing for quite some time now. Why is that? It's all because of technology. Technology is enabled the participant from all levels to be on a level playing field. So example being institutional participants traditionally had the greatest technology. And in return, the products were custom sized for institutional participants. As the markets evolved,”
2025-10-02 · Odd Lots · Terry Duffy on the CME's Big Push into Retail Trading · IDENTIFIED FROM THE TRANSCRIPT · source
“Do you have a tape of that? Because I'm not sure that's true. I got proof. I got the transcript. Everybody remembers something, but let me see the proof.”
2025-10-02 · Odd Lots · Terry Duffy on the CME's Big Push into Retail Trading · IDENTIFIED FROM THE TRANSCRIPT · source