CFTC Adds Members of its Global Markets Advisory Committee, Subcommittees; Uniswap, Polygon Team Reps Included

CFTC Commissioner Caroline D. Pham, sponsor of the Global Markets Advisory Committee (GMAC), announced new members and leadership of the GMAC and its Subcommittees on Global Market Structure, Technical Issues, and Digital Asset Markets.

In total, there are 128 members “across the GMAC and its Subcommittees, constituting the largest-ever single advisory committee initiative sponsored by the CFTC.”

The next public meeting of the GMAC is “on July 17, 2023 at the New York Stock Exchange.”

Commissioner Pham announced that Amy Hong, Head of Market Structure & Strategic Partnerships, Global Banking & Markets, Goldman Sachs, will “serve as GMAC Chair.”

Darcy Bradbury, Managing Director and Head of Public Policy, D.E. Shaw & Co., continues “to serve as GMAC Vice Chair.”

In addition, Kevin Kennedy, Executive Vice President, North American Markets, Nasdaq, and Nadine Chakar, CEO, Securrency, have “joined the GMAC as members.”

Commissioner Pham said:

“I am thrilled to welcome the new GMAC and Subcommittee members, and thank them for their willingness to serve and support the GMAC’s work program as we develop consensus solutions to the most significant current and emerging issues in global markets. International collaboration and coordination are critical to promoting financial stability and access to markets. The deep expertise and seasoned experience of our members will be invaluable in proposing pragmatic recommendations for regulatory reform. I am gratified to have the exceptional and proven leadership of Amy and Darcy for our GMAC initiatives.”

Amy Hong, Goldman Sachs’ Head of Market Structure & Strategic Partnerships for Global Banking & Markets, said:

“I am proud to further my involvement and serve the CFTC’s GMAC in this new capacity. I look forward to working with Commissioner Pham and the entire Committee to help ensure the strength and resiliency of derivatives markets globally.”

Commissioner Pham also announced the following GMAC Subcommittee leadership appointments:

Global Market Structure Subcommittee: Brad Tully, Global Co-Head, Corporate Derivatives and Private Side Marketing, J.P. Morgan, and Michael Winnike, Director, Head of US Market Structure, Global Trading Group, BlackRock, will serve as Co-Chairs.

Brad Tully, Global Co-Head, Corporate Derivatives and Private Side Marketing at J.P. Morgan, said:

“We appreciate the opportunity to work with the Commission and broader industry on critical and timely issues impacting global markets.” 

Michael Winnike, BlackRock’s Head of US Market Structure, said:

“Safe and efficient derivatives markets are essential to BlackRock’s ability to manage risk on behalf of our clients. I am delighted to work with the Commission and an esteemed panel of industry leaders to explore how we can advance and adapt the market structure considering rapid technological, macro-economic and regulatory change.” 

Technical Issues Subcommittee: Allison Lurton, General Counsel and Chief Legal Officer, FIA, and Tara Kruse, Global Head of Infrastructure, Data and Non-Cleared Margin, ISDA, “will serve as Co-Chairs.”

Allison Lurton, FIA’s General Counsel and Chief Legal Officer said:

“This is an opportune time to re-examine current best practices for managing extreme volatility, minimizing disruptions to orderly trading, and protecting market integrity, and FIA is pleased to work with the industry to devise solutions.”

Digital Asset Markets Subcommittee: Caroline Butler, Global Head of Digital Assets, BNY Mellon, and Sandy Kaul, Senior Vice President, Head of Digital and Industry Advisory Services, Franklin Templeton, will serve “as Co-Chairs.”

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