Release: 5444-08

For Release: February 4, 2008

CFTC Applauds President’s Recommendation for Increased Agency Funding

Washington, DC — Today, the President released his budget for Fiscal Year 2009 that includes a recommended $130 million in funding for the Commodity Futures Trading Commission (CFTC). CFTC Acting Chairman Walter Lukken made the following statement in response to the President’s budget:

“The Commission appreciates the President’s Fiscal Year 2009 CFTC funding request. The $130 million request recognizes the continued need for increased funding for the CFTC in light of unprecedented growth in the futures markets.

“Building on last year’s additional funding level, an increase for FY 2009 is essential to permit the Commission to hire critically-needed staff and maintain and upgrade our technological infrastructure. Highly skilled professionals and state of the art technological capabilities are essential for the CFTC to continue to ensure the integrity of U.S. futures markets and protect market participants in an increasingly global marketplace.”

Media Contacts
Ianthe Zabel
202-418-5080

R. David Gary
202-418-5085

Last Updated: February 4, 2008