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.
Commissioner 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
Michael
Winnike
BlackRock
Director, Head of US Market Structure, Global Trading Group
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 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
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)