The Commodity Futures Trading Commission (CFTC) announced that Commissioner Rostin Behnam will sponsor the Market Risk Advisory Committee (MRAC). The agency also announced temporary sponsors for the Agriculture Advisory Committee and the Global Markets Advisory Committee, until additional Commissioners are confirmed by the U.S. Senate.
Behnam will lead the MRAC, which advises the Commission on matters related to evolving market structures and movement of risk across clearinghouses, exchanges, intermediaries, market makers, and end-users.
I look forward to continuing the important work of my predecessor for this committee, which studies an area thats critical to the Commissions mission, said Behnam. To bolster the work of MRAC in the coming months, I will launch a nationwide listening tour where I will visit farmers, energy producers, financial institutions, and other market participants to get a broad perspective of their experience with the markets the CFTC regulates, and how the Commission can better adapt its regulations to continually support the safest, most transparent, and deepest financial markets in the world.
Behnam also noted, Identifying and managing risk is at the backbone of the derivatives markets. From market liquidity and concentration to developments in technology, examining market risk is a critical responsibility to ensure safe and healthy markets.
In addition to the MRAC, Behnam will also temporarily sponsor the Agricultural Advisory Committee that advises the Commission on matters that involve the trading of agricultural commodity futures, options and swaps, and facilitates communications among the CFTC, the agricultural community, and agriculture-related organizations.
Commissioner Brian Quintenz, the current sponsor of the Technology Advisory Committee, will also temporarily sponsor the Global Markets Advisory Committee, which advises the Commission on matters that affect the integrity and competitiveness of U.S. markets and U.S. firms engaged in global business.
CFTC Chairman J. Christopher Giancarlo will continue his sponsorship of the Energy and Environmental Markets Advisory Committee, which advises the Commission on matters of concern to exchanges, firms, end-users, and regulators regarding energy and environmental markets and the Commissions regulations.
CFTCs Advisory Committees were created to seek input and make recommendations to the Commission on a variety of regulatory and market issues that affect the integrity and competitiveness of U.S. markets. The committees facilitate communication among the Commission and U.S. markets, trading firms, market participants, advocates and commercial end-users.