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Screenshot of a breaking news alert e-mail from Q2 2017
U.S. Commodity Futures Trading Commission Acting Chairman J. Christopher Giancarlo announced that Andrew B. Busch has been named the Commission’s first Chief Market Intelligence Officer. After spending 30 years in the financial services sector, Mr. Busch comes to the CFTC from the boutique economic research company he founded, Bering Productions Inc. (BPI), where he was CEO. Mr. Busch will assume his duties on April 10, 2017.
The new Chief Market Intelligence Officer (CMIO) will help activate the CFTC’s latent capability for market intelligence, giving us better insight into the needs of participants in the futures and swaps we oversee,” said Acting Chairman Giancarlo. “I’m delighted that Andy Busch will bring his extraordinary market insight and great communication skills to the important work of the Commission. In this new position, which reports directly to the Chairman, Andy will engage with the CFTC’s new Market Intelligence Unit as well as market participants, industry analysts, economists, policy makers, and other regulators. He will help communicate to a broader American public emerging trends in the commodity futures markets that the CFTC oversees.
I greatly appreciate the honor that Acting Chairman Giancarlo and the Commission have given me to serve its mission to provide service to the financial community and country,” said Mr. Busch. “Congress has entrusted the Commission with key responsibilities for understanding and communicating information and intelligence on current market dynamics, and I intend to assist the Commission with this key role.
In March, Acting Chairman Giancarlo announced the creation of the Market Intelligence Unit by separating the Surveillance Branch from the Division of Market Oversight and reassigning their important work to the Division of Enforcement. The Market Intelligence Unit is designed to understand, analyze and communicate current and emerging derivatives market dynamics, developments and trends – such as the impact of new technologies and trading methodologies.
As part of the Division of Enforcement, the Surveillance Branch will still continue its important work monitoring markets for suspected fraud and manipulation. The Branch will have the same authority and responsibility it currently has to identify and recommend for prosecution violations of law and regulation such as spoofing, manipulation and fraud.
Before BPI, Mr. Busch was the Global Currency and Public Policy Strategist at the Bank of Montreal from 2009 to 2013. He also served as the Bank of Montreal’s Global Foreign Exchange Strategist and was an outside advisor to the White House, US Treasury and Congress on the financial markets from 2005-2009. Mr. Busch began his career in financial services working in the foreign exchange trading department for the Northern Trust Company. Mr. Busch graduated magna cum laude and Phi Beta Kappa from Ohio Wesleyan University in 1983 and obtained his MBA in international finance from the University of Chicago in 1988. Originally from Ohio, Mr. Busch now lives in Illinois with his wife Michelle and her daughter Jessica Sprong. In addition, his children Samantha, Andy Jr., Alberto Busch and Jake Sprong are spread across the country.