great seeing you terry duffy. >> thank you, neil, appreciate. p, everything under their purview, assets that give you alternatives to stocks and crypto, two different products there. we're following that, following layoff news, maybe big layoff news at meta. maybe thousands of workers poised to lose their jobs. they could be the latest. they might not be the last.th ♪. e fetime like happiness, love and confidence... you can't buy those. but you can invest in them. at t. rowe price, our strategic investing approach can help you build the future you imagine. .. e comcast business internet, you choose the largest, fastest reliable network. you choose advanced security for total peace of mind. and you choose a next generation 10g network that's always improving, getting faster; more reliable; and more intelligent to keep you ready for today and tomorrow. the choice is clear: make your business future ready with the network from the most innovative company. comcast business. powering possibilities™. say goodbye to multiple daily insulin injections wit

we heard from terry duffy, high trading volume. this is the options exchange. >> yes.n cme, which is mostly futures. index options, equity options, specialty of the cboe, have had much bigger volume surges than traditional futures. so, the market has recognized that. you mentioned it's up 12% in the last year. just massively outperformed all the other exchange stocks, whether it's intercontinental exchange, this one, nasdaq, cme. part of the reason for that is they now list options every single day, that expire every single day. >> the date of expiration. >> this huge fa nom nom. s&p 500 options are up last year versus last year. the ten-year growth is 12%. there's a rule of thumb, derivative volumes grow faster than the underlying securities volumes. this is a decent way to capture this. >> mike brings up a point that i've heard so many traders at the retail level and even at the institutional level talk about, that the emergence of these so-called zero dtes or zero date exter rags options have made it more casino-esque. now people can take binary views on certain thi

protect their portfolios, speculate on outcomes, so joining use1 now i an exclusiuu cnbc interview is terry duffy eñvpáors, but can you put in context for us just how volatile this current environment has been compared t( past? >> i've been around a long time, dom, and i've seen a lot of different scenarios play out in the financial sector. taking cme public in '02 and seeing some of the things that happened all the way through dodd/frank, the collapse, financial crisis and other events that have happened. one of the things that really kind of surprised me over this last couplee1 of weeks is, you know, when you look ate1 fundamentally what's going on in the world probably the last six to eight weeks,/ been a whole lot of change going on, except for one thing. that is the continuation of potentially rising of interest rates. so when you look at a bank like svb or signature, or other banks that have lost a tremendous amount of money by notxd protecting their bond portfolio, i say to myself, i say, wait a ñ isn't that what they do for a living? is do interest rates. and all of a sudden theye1 did e

úhe nexáir "squawk on the street," we have cme group chairman and ceo terry duffy on his expectationsights at least thus far. good morning, meg. >> good morning, david.o7o this is seen as a really important hearing, both for moderna itself, but more broadly, for the drug industry. and focusingtó' the price of their medicine. senator bernie sanders, isxdÑi chairman of the senate health committee. he's been a big advocate for >> the bond selling out there was different, includingó7! lat this ñryear, that demand is expected to drop by about 90% for the vaccine. there are other complexitieç■wh jt the vaccine into a single-dose vial or a pre-filled syringe.i] the 60,000 pharmacies, hospitals, doctor's office they will now have to deliver to as opposed to the few government warehouses. it, but looking for some potential fireworks that's important for not just moderna, but for the whole okindustry. >> without a doubt, meg, thank you. meg terrell. that doesxd it for another hour- for th hour is of ♪ ♪ luxury exemplified. innovation electrified. with apple music seamlessly integrated. the all-

i managed a package, terry duffy head of the cme was happy, record volumes we saw on friday, monday and here is what's important is not just the record volumes but everything working the plumbing of the system worked very well, tremendous stress in the last week, nothing broke, and that was very -- made a lot of participants very, very happy. >> that's something. bob, thank you bob pisani >>> meanwhile ecb president christine lagarde has been speaking this hour on the heels of raising interest rates 50 basis points that was a double. the euro is strengthening as a result, talking tough on inflation. steve liesman joins us with the highlights although she did not ignore what was happening in the banking system and said they stand ready to act. >> quite the opposite. she took it on straight on and investors in the u.s. need to watch this carefully because this could be a dry run for the fed next week. the european central bank hiking 50 basis points and insisting there's no conflict or tradeoff between fighting inflation and securing the financial system. christine lagarde, the european c

talk to terry duffy who runs a great exchange here at the cme or any other exchange in chicago.previously. it's crazy. bankers are going to do what bankers do. you can't blame them. they want to lend as much as they can, right? they want to try to make money. can't make it -- >> i never blame bankers. to me the issue is blaming bankers just means you don't understand bankers, you don't understand the business, you don't understand the usery business and i think when janet yellen as treasury secretary does pretty much the same thing that she did as chair of the fed, always the path of least resistance, just knocking down the rules so we don't have any problems. i haven't heard kick the can in a long time. it was very popular '06 through '09. that's exactly what we do and i've getting tired of it. why guarantee the banks with some of these clients with big debts on our show, they should snow better, joe. >> rick santelli, sometimes we know things at 8:30. today -- >> 2:00. >> more on this critical fed decision, i want to bring in a visiting scholar the mit. good morning. eric, it'