The Global Markets Advisory Committee (GMAC) was created in 1998 to advise the Commission on issues that affect the integrity and competitiveness of U.S. markets and U.S. firms engaged in global business, including the regulatory challenges of a global marketplace that reflects the increasing interconnectedness of markets and the multinational nature of business. The GMAC also makes recommendations regarding international standards for regulating futures, swaps, options, and derivatives markets, as well as intermediaries. Members include financial market infrastructures, market participants, end-users, service providers, and regulators.
Acting Chairman Caroline D. Pham sponsors the GMAC. Harry Jung serves as the Designated Federal Officer, and Nicholas Elliot serves as the Alternate Designated Federal Officer.
Committee Charter (PDF)
Name | Entity Representing | Title |
Chris Allen | HSBC | General Counsel for Banking and Markets, and General Counsel of HSBC Bank plc |
Bill Bolton | bp | Chief Financial Officer, Refining, Products, and Low Carbon Americas Trading and Shipping |
Perianne Boring | Chamber of Digital Commerce | Chief Executive Officer |
Darcy Bradbury | D. E. Shaw & Co. | Managing Director and Head of Public Policy |
Isaac Chang | Citadel | Head of Central Execution, Global Fixed Income |
Nadine Chakar | DTCC | Managing Director, Global Head of Digital Assets |
Gerald Corcoran | R.J. O’Brien and Associates | Chief Executive Officer and Chairman of the Board |
Adam Farkas | GFMA | Chief Executive Officer, GFMA and Chief Executive Officer, AFME |
Scott Fitzpatrick | Tradition Group | Chief Executive Officer, TraditionSEF |
Amy Hong | Goldman Sachs | Head of Market Structure and Strategic Partnerships, Global Banking and Markets |
John W. Horkan | LSEG | LSEG Post Trade and LCH Group Chief Operating Officer and LCH Head of Americas |
Angie Karna | Nomura | Managing Director and Head of Legal for Global Markets, Americas |
Candace Kelly | Stellar Development Foundation | Chief Legal & Policy Officer |
Steven Kennedy | ISDA | Global Head of Public Policy |
Derek Kleinbauer | Bloomberg LP | President of Bloomberg SEF |
Agnes Koh | SGX Group | Chief Risk Officer |
Mary-Catherine Lader | Uniswap Labs | Chief Operating Officer |
Chuck Mack | Nasdaq | Vice President, Head of Strategy & Market Structure North American Markets |
Jacqueline Mesa | FIA | Chief Operating Officer and Senior Vice President, Global Policy |
Erik Tim Müller | Eurex | Chief Executive Officer, Eurex Clearing AG |
John Murphy | Commodity Markets Council | Global Head of Futures Division, Mizuho Americas |
Joseph Nicosia | Louis Dreyfus | Global Trading Operations Officer and Head of Global Cotton Platform |
Dave Olsen | FIA PTG | President and Chief Investment Officer, Jump Trading Group |
Tetsuo Otashiro | JSCC | Senior Head of Global Policy and Regulation |
Christopher R. Perkins | CoinFund | President |
Sachiyo Sakemi | BlackRock | Global Head of Legal for BlackRock Global Markets Group |
Thomas Sexton | NFA | President and Chief Executive Officer |
Andrew Smith | Virtu Financial | Senior Vice President, Global Business Development and Market Structure |
Jason Swankoski | Morgan Stanley | Executive Director |
Brad Tully | JPMorgan Chase & Co. | Global Co-Head of Corporate Derivatives and Private Side Marketing |
Thane Twiggs | Cargill | Chief Compliance Officer, Cargill Risk Management |
Jason Vitale | BNY Mellon | Global Head of Foreign Exchange, Fixed Income & Equities |
Stuart Williams | ICE | Chief Operating Officer |
Julie Winkler | CME Group | Chief Commercial Officer |
Vadim Zlotnikov | Fidelity Investments | Head of Fidelity Institutional |
Chris Zuehlke | DRW | Partner and Global Head of Cumberland |
- Global Market Structure Subcommittee
GMAC Global Market Structure Subcommittee Member Organization Represented Title Robert
Lynch
BNY Mellon Head of Fixed Income and Equity for BNY Mellon Markets and CEO of BNY Mellon Capital Markets, LLC Gil
Mandelzis
Capitolis Founder and CEO Samina
Anwar
Cargill Global Derivatives Operations Director Catherine Clay Cboe Global Markets, Inc. Vice President, Head of Global Derivatives Jonah
Platt
Citadel U.S. Head of Government and Regulatory Policy Julie Winkler CME Group Chief Commercial Officer John Murphy Commodity Markets Council Global Head of Futures Division Mizuho Americas Graham
Harper
DRW Head of Public Policy and Market Structure Laura
Kimpel
DTCC General Manager of Fixed Income Clearing Corporation, Head of SIFMU Business Development Jacqueline Mesa FIA Chief Operating Officer and Senior Vice President, Global Policy Dave Olsen FIA PTG President and Chief Investment Officer, Jump Trading Group Susan
Dauber
FXPA Chair Francis Todd Goldman Sachs Managing Director, Global Head of Market Structure Transition, Global Banking and Markets Jeroen
Krens
HSBC Managing Director, Global Banking and Markets, and Chief Operating Officer, Markets and Securities Services Kara
Dutta
ICE Assistant General Counsel, ICE Futures U.S., and General Counsel ICE Trade Vault Steven Kennedy ISDA Global Head of Public Policy Brad Tully JP Morgan Chase & Co. Global Co-Head, Corporate Derivatives and Private Side Marketing, J.P. Morgan Tetsuo Otashiro JSCC Director, Global Policy and Regulation OTC Derivative Clearing Services John W. Horkan LSEG LSEG Post Trade and LCH Group Chief Operating Officer and LCH Head of Americas Edward
Backer
Morgan Stanley Managing Director and Global Head of Cross-Asset Listed Derivatives Execution Mike
Otten
NFA Senior Vice President, OTC Derivatives Ken
McCracken
Nodal Exchange General Counsel and Chief Regulatory Officer Angie Karna Nomura Head of Legal for Global Markets, Americas Tim Crowley PIMCO Senior Vice President, Portfolio Management Ivan
Han
SGX Group Deputy Chief Risk Officer Wendy
Yun
SIFMA AMG Managing Director, Goldman Sachs Asset Management Kyle
Brandon
SIFMA Managing Director, Derivatives Policy Devi
Shanmugham
Tradeweb Global Head of Compliance Scott Fitzpatrick Tradition Group Chief Executive Officer, TraditionSEF Mary-Catherine Lader Uniswap Labs Chief Operating Officer Andrew Smith Virtu Financial Senior Vice President Marta
Poleszczuk
Wellington Management Director of Fixed Income Trading, Americas - Digital Asset Markets Subcommittee
GMAC Digital Asset Markets Subcommittee Member Organization Represented Title Brooke Ybarra American Bankers Association Senior Vice President, Innovation and Strategy Mohammad Shaikh Aptos Labs Co-Founder and CEO Caroline Butler BNY Mellon CEO of Digital Assets Perianne Boring Chamber of Digital Commerce Chief Executive Officer Giovanni Vicosio CME Group Global Head of Cryptocurrency
Christopher R Perkins CoinFund President Steve Humenik Crypto.com Senior Vice President, Global Head of Derivatives and Head of Legal for the Middle East & Africa Sheila Warren Crypto Council for Innovation Chief Executive Officer Yuval Rooz Digital Asset Co-Founder and Chief Executive Officer Chris Zuehlke DRW Partner and Global Head, Cumberland Matt Haraburda FIA Principal Traders Group President, XR Trading Terrence Dempsey Fidelity Digital Assets Senior Vice President, Head of Product Strategy Sandy Kaul Franklin Templeton Senior Vice President Jason Urban Galaxy Digital Global Head of Trading Allison Parent GFMA Executive Director Sandra Ro Global Blockchain Business Council Chief Executive Officer Lee Brenner Goldman Sachs Head of Public Policy, Digital Assets John O'Neill HSBC Global Head of Digital Assets Strategy Jennifer Ilkiw ICE President, ICE Futures U.S. Scott Lucas JPMorgan Chase & Co. Managing Director, Head of Markets DLT Nicole Valentine Milken Institute Director of the Milken Institute’s Fintech Program Fabian Astic Moody’s Corporation Managing Director, Global Head of Decentralized Finance & Digital Assets Tony Sio Nasdaq Vice President, Head of Regulatory Strategy and Innovation Lauren Brinati NFA Chief Strategy and Risk Officer Rebecca Rettig Polygon Labs Head of Policy Nadine Chakar DTCC Managing Director, Global Head of Digital Assets Thomas Sullivan Societe Generale Managing Director, Head of Market Access & Product Development for Digital Assets Chen Arad Solidus Labs Co-Founder & CXO René Michau Standard Chartered Global Head, Digital Assets Anton Katz Talos Chief Executive Officer Chris Bruner Tradeweb Chief Product Officer Marvin Ammori Uniswap Labs Chief Legal Officer Robbie Mitchnick BlackRock Head of Digital Assets Ian Grieves Cboe Digital Head of Product and Engineering - Technical Issues Subcommittee
GMAC Technical Issues Subcommittee Member Organization Represented Title Amelia
Kaufman
BlackRock Director and Legal Counsel, Global Markets Legal Thane Twiggs Cargill Chief Compliance Officer, Cargill Risk Management Udesh Jha CME Group Managing Director of Post Trade and Optimization Services Chris Childs DTCC Head of Repository and Derivatives Services and CEO and President, DTCC Deriv/SERV Ketan
B. Patel
Federal Reserve Bank of Chicago Policy Advisor and Head of Financial Markets Risk Analysis Allison Lurton FIA General Counsel and Chief Legal Officer Teo
Floor
The Global Association of Central Counterparties (Netherlands) CEO David
Farrell
ICE Chief Operating Officer, ICE Futures U.S. Tara
Kruse
ISDA Global Head of Infrastructure, Data and Non-Cleared Margin Jonathan
Thursby
KOR Financial Chief Executive Officer Jason Swankoski
Morgan Stanley Executive Director- Global Head of Strategy and Product, Derivatives Clearing Christian Sjöberg Nasdaq Head of Business Development-Post Trade Lisa
Shemie
OANDA General Counsel Kirston Winters Osttra Head of Legal, Risk, Compliance and Government and Regulatory Affairs Elizabeth
Kuit
RBC Capital Markets LLC Managing Director, Head of Business Management and Liquidity for the Central Funding Group Elaine
Tang
SGX Group VP Risk Control Charles
De Simone
SIFMA Managing Director, Technology and Operations Scott
Andersen
Societe Generale Director Head of Listed Derivatives and OTC Clearing Randy
Goldsmith
Tradeweb Global Head of Rates and International Institutional Technology Stuart
Giles
Tradition Americas Chief Strategy Officer
CFTC’s Global Markets Advisory Committee Advances Recommendation on Tokenized Non-Cash Collateral, 9009-24
CFTC Commissioner Pham Announces Global Markets Advisory Committee will Meet November 21, 9002-24
CFTC’s Global Markets Advisory Committee Advances 3 Recommendations, 8873-24
Commissioner Pham Announces Agenda for the March 6 Global Markets Advisory Committee Meeting, 8872-24
Commissioner Pham Announces CFTC Global Markets Advisory Committee Meeting on March 6, 8868-24
CFTC Global Markets Advisory Committee Advances Key Recommendations, 8860-24
The Global Markets Advisory Committee Announces Agenda for July 17 Meeting, 8750-23
Commissioner Pham Announces CFTC Global Markets Advisory Committee Meeting on July 17 , 8730-23
Commissioner Pham Announces Update on Global Markets Advisory Committee Work Program , 8717-23
Commissioner Pham Announces Proposed Work Program for CFTC Global Markets Advisory Committee and Seeks Input by May 30 , 8703-23
Commissioner Pham Announces New Subcommittees of the CFTC’s Global Markets Advisory Committee and Seeks Nominations by March 14 , 8668-23
The Global Markets Advisory Committee Announces Agenda for February 13 Meeting , 8653-23
Commissioner Pham Announces CFTC Global Markets Advisory Committee Meeting and Leadership , 8649-23
Commissioner Pham Announces Members of the CFTC’s Global Markets Advisory Committee , 8648-23
CFTC Commissioner Caroline D. Pham Seeks Nominations for Global Markets Advisory Committee Membership and Public Comment on Committee Priorities by June 17 , 8542-22
CFTC Announces Advisory Committee Sponsorships , 8530-22
Expand Use of Non-Cash Collateral through Use of Distributed Ledger Technology (November 21, 2024)
Report on the Impact of the US Bank Capital Proposals on End-Users that Rely on Cleared Derivatives Markets (June 4, 2024)
Variation Margin Processes in Non-Centrally Cleared Markets (June 4, 2024)
Inclusion of U.S. Treasury ETFs as Eligible Initial Margin Collateral (March 6, 2024)
Publication of Resource Document to Support Transition to T+1 Securities Settlement (March 6, 2024)
Adoption of an Approach for the Classification and Understanding of Digital Assets (March 6, 2024)
New Block and Cap Sizes (November 6, 2023)
Proposal to Add CCPs as Permitted Counterparties (November 6, 2023)
FICC-CME Customer Position Cross-Margining Structure (November 6, 2023)
Endorsement of Futures Industry Association (FIA) Volatility Controls Mechanism Paper (November 6, 2023)
Global Default Simulation (November 6, 2023)
MMFs as Eligible Collateral (November 6, 2023)
Improve Trade Reporting for Market Oversight, Streamline Potential 40% Increase in CFTC Reportable Data Elements (November 6, 2023)
Improve Trade Reporting for Market Oversight and Improving Data Sharing and Systemic Risk Analysis (November 6, 2023)
Recommendations to Improve Scoping and Implementation of Initial Margin Requirements for Non-Cleared Swaps (May 19, 2020)