Rostin Behnam, a commissioner at the US Commodity Futures Trading Commission (CFTC), will sponsor the agency’s Market Risk Advisory Committee (MRAC).
The CFTC also announced temporary sponsors for the Agriculture Advisory Committee and the Global Markets Advisory Committee, until additional commissioners are confirmed by the US 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 that’s critical to the Commission’s mission,” says 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 notes: “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 organisations.
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 US markets and US firms engaged in global business.
CFTC chairman 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 Commission’s regulations.