CFTC establishes market risk committee, releases details of members


U.S. Commodity Futures Trading Commission (CFTC) Commissioner Sharon Y. Bowen today announced the members of the CFTC’s Market Risk Advisory Committee (MRAC). Commissioner Bowen is the sponsor of this advisory committee.

“I am very pleased with the breadth and depth of talent that will be present on the Committee. Our members bring valuable expertise and a diversity of opinions and perspectives about the swaps and futures industry. We received a great deal of interest regarding serving on MRAC and many thoughtful comments from members of the public on a broad range of topics upon which MRAC should focus.

Now the MRAC must begin work on determining and analyzing the risks to our markets and consumers, in order to provide consultation on how best to address them. I am confident that the Commission will benefit from the recommendations of this Committee.”

The Committee, which was first chartered in 2014, is designed to support the Commission’s efforts to detect and mitigate risks within the market to industry participants, consumers, and the broader financial community. This year, the Committee intends to study both long-standing and nascent risks to the market, as well as challenges posed by the evolving structure of the swaps and futures markets.

MRAC’s mandate is to conduct public meetings and submit reports and recommendations to the Commission on matters of public concern to clearinghouses, exchanges, intermediaries, market makers, end-users and the Commission regarding systemic issues that threaten the stability of the derivatives markets and other financial markets; and

It also aims to assist the CFTC in identifying and understanding the impact and implications of an evolving market structure and movement of risk across clearinghouses, intermediaries, market makers and end-users.

The full list of members is as follows:

Dr. Anat AdmatiBetter MarketsRepresentative
Robert AndersonCommittee of Chief Risk OfficersExecutive Director
Gerald BeesonCitadelChief Operating Officer and Chief Financial Officer
David BurlageCoBankChief Financial Officer
Scott L. FloodCiti’s Institutional Client GroupManaging Director
Andrew GrayDepository Trust and Clearing CorporationManaging Director
Bill HaleCargillExport Grain Manager
Michael HennesyFederal Home Loan BanksVice President, Treasury and Capital Markets
Jerry JeskeMercuria EnergyGroup Chief Compliance Counsel
Nathan JennerBloomberg SEF LLCChief Operating Officer, FICC E-Trading
Thomas A. KloetElmhurst CollegeRepresentative
Sebastian KoelingOptiver USChief Executive Officer
Clifford M. LewisEurex ClearingIndependent Director
Dr. Andrew W. LoMassachusetts Institute of Technology’s Laboratory for Financial EngineeringDirector
Glen MackeyNRG EnergyChief Risk Officer
Dennis McLaughlinLCH.ClearnetGroup Chief Risk Officer
Susan McLaughlinFederal Reserve Bank of New YorkSenior Vice President
Richard MillerPrudential Global FundingGeneral Counsel
Michael ModlockTriOptimaHead of TriReduce North America
John NixonAmericas for ICAPGroup Executive Director
Susan O’FlynnMorgan StanleyManaging Director and Global Head of CCP Strategy, Governance and Optimization
Lee OleskyTradewebChief Executive Officer
Angela PatelPutnam InvestmentsSenior Vice President
Edward PlaUBS Investment BankManaging Director, Head of Clearing and Execution
Emily PortneyJP MorganGlobal Head of Agency Clearing, Collateral Management and Execution
Dr. Marcus StanleyAmericans for Financial ReformPolicy Director
Kim TaylorCME GroupPresident, Global Operations, Technology and Risk
Charles ViceIntercontinental ExchangePresident and Chief Operating Officer
Kristen WaltersBlackRockGlobal Chief Operating Officer of Risk and Quantitative Analysis Group
Rana YaredGoldman SachsManaging Director
Luke ZubrodChatham FinancialDirector of Risk and Regulatory Advisory Services

For the official announcement from the CFTC, click here.

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CFTC establishes market risk committee, releases details of members


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