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 Admati||Better Markets||Representative|
|Robert Anderson||Committee of Chief Risk Officers||Executive Director|
|Gerald Beeson||Citadel||Chief Operating Officer and Chief Financial Officer|
|David Burlage||CoBank||Chief Financial Officer|
|Scott L. Flood||Citi’s Institutional Client Group||Managing Director|
|Andrew Gray||Depository Trust and Clearing Corporation||Managing Director|
|Bill Hale||Cargill||Export Grain Manager|
|Michael Hennesy||Federal Home Loan Banks||Vice President, Treasury and Capital Markets|
|Jerry Jeske||Mercuria Energy||Group Chief Compliance Counsel|
|Nathan Jenner||Bloomberg SEF LLC||Chief Operating Officer, FICC E-Trading|
|Thomas A. Kloet||Elmhurst College||Representative|
|Sebastian Koeling||Optiver US||Chief Executive Officer|
|Clifford M. Lewis||Eurex Clearing||Independent Director|
|Dr. Andrew W. Lo||Massachusetts Institute of Technology’s Laboratory for Financial Engineering||Director|
|Glen Mackey||NRG Energy||Chief Risk Officer|
|Dennis McLaughlin||LCH.Clearnet||Group Chief Risk Officer|
|Susan McLaughlin||Federal Reserve Bank of New York||Senior Vice President|
|Richard Miller||Prudential Global Funding||General Counsel|
|Michael Modlock||TriOptima||Head of TriReduce North America|
|John Nixon||Americas for ICAP||Group Executive Director|
|Susan O’Flynn||Morgan Stanley||Managing Director and Global Head of CCP Strategy, Governance and Optimization|
|Lee Olesky||Tradeweb||Chief Executive Officer|
|Angela Patel||Putnam Investments||Senior Vice President|
|Edward Pla||UBS Investment Bank||Managing Director, Head of Clearing and Execution|
|Emily Portney||JP Morgan||Global Head of Agency Clearing, Collateral Management and Execution|
|Dr. Marcus Stanley||Americans for Financial Reform||Policy Director|
|Kim Taylor||CME Group||President, Global Operations, Technology and Risk|
|Charles Vice||Intercontinental Exchange||President and Chief Operating Officer|
|Kristen Walters||BlackRock||Global Chief Operating Officer of Risk and Quantitative Analysis Group|
|Rana Yared||Goldman Sachs||Managing Director|
|Luke Zubrod||Chatham Financial||Director of Risk and Regulatory Advisory Services|
For the official announcement from the CFTC, click here.