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Screenshot of a breaking news alert e-mail from Q2 2017
Just a day after it was revealed that outspoken CFTC commissioner Scott O’Malia had submitted his resignation to President Barack Obama, it has emerged that he has been appointed CEO of the International Swaps and Derivatives Association (ISDA).
LeapRate reported yesterday that Mr. O’Malia’s tenure as CFTC Commissioner span over a four year period, where he served as Chair of the CFTC’s Technology Advisory Committee, during which he had been critical of the regulatory authority’s methodology with regard to certain aspects of the implementation of the regulatory reforms which began in 2010 and have encompassed all aspects of the electronically traded derivatives sector in North America.
MR. O’Malia assumes his new position on August 18 this year, and is welcomed by ISDA Chairman Stephen Connor who made a commercial statement relating to Mr. O’Malia’s appointment, stating that “Scott is the right person to lead the industry and ISDA through the many structural changes – including margin, capital, clearing, trade execution and reporting rules and regulations – that are reshaping the global derivatives markets.”
Mr. O’Malia replaces Robert Pickel, who ceded his position earlier this year after 17 years of service at ISDA.