Jun 10, 2021 / 02:30PM GMT
Richard Henry Repetto - Piper Sandler & Co., Research Division - MD & Senior Research Analyst
Welcome back, everyone, to Piper Sandler's Global Exchange and Fintech Conference. I'm very pleased to move to our next exchange and that being the CME and Terry Duffy, the Chairman and CEO. So we always have fun and interesting conversations. Thank you again for participating, Terry.
Terrence A. Duffy - CME Group Inc. - Chairman & CEO
Thank you, Rich. Appreciate it.
Questions and Answers:
Richard Henry Repetto - Piper Sandler & Co., Research Division - MD & Senior Research AnalystWe just got done talking about -- with Jeff talking about networks and how the electronic networks and how they spur trading and how investors value the networks. The CME gets a premium valuation. And again, this could be impacted by sort of cyclical ebbs and flows and so forth, but still, I think everybody looks at the CME as the -- an impenetrable sort of business model and network.
So at least, I guess, the