Washington, D.C. — CFTC Commissioner Caroline D. Pham, sponsor of the Global Markets Advisory Committee (GMAC), announced the agenda for the upcoming GMAC public meeting on Tuesday, June 4, from 10:00 a.m. to 1:00 p.m. EDT at the CFTC’s New York Regional Office.

“The GMAC continues to make great progress developing thoughtful recommendations and insightful work product to aid the CFTC and the entire financial services industry,” Commissioner Pham said. “I’m looking forward to the consideration of the latest recommendations as well as our panel discussions on key issues facing the industry. This work builds on the 11 recommendations that have already been adopted in less than a year. As the GMAC’s sponsor, I’m honored to welcome these innovative approaches to addressing the biggest issues in the global financial markets from some of the preeminent industry experts.”

At this meeting, the GMAC will consider recommendations regarding the impact of the U.S. Basel III endgame bank capital proposals on end-users that rely on cleared derivatives markets, and enhancements to variation margin processes in non-centrally cleared markets in connection with the Basel Committee on Banking Supervision (BCBS) and International Organization of Securities Commissions (IOSCO) Working Group on Margin Requirements report.

In addition, the GMAC meeting will feature presentations on trading mandates and their impact on global market structure and liquidity on swap execution facilities, and trading activity in global commodity markets. The CFTC’s Office of International Affairs will also present an update on the agency’s international engagement.

A detailed agenda for the meeting is available HERE.

Meeting Details
 

The meeting will be open to the public with seating on a first-come, first-served basis. The meeting will also be available via live webcast or listen-only audio feed via telephone.

Viewing/Listening Instructions: View a live webcast on CFTC.gov or through the CFTC’s YouTube channel. Use the numbers below to call in. Call-in participants should be prepared to provide their first name, last name, and affiliation, if applicable. Materials presented at the meeting will be made available on CFTC.gov.

Additional information is available in the Federal Register. 

About the GMAC and Advisory Committees

The GMAC was created 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. In June 2023, Commissioner Pham announced the leadership and membership of the GMAC and its subcommittees—the largest-ever single advisory committee initiative sponsored by the CFTC. Members include financial market infrastructures, market participants, end-users, service providers, and regulators. Harry Jung is the GMAC Designated Federal Officer, and Nicholas Elliot is the GMAC Alternate Designated Federal Officer.

There are five active Advisory Committees overseen by the CFTC. They were created to provide advice and recommendations to the Commission on a variety of regulatory and market issues that affect the integrity and competitiveness of U.S. markets. These committees facilitate communication between the Commission and market participants, other regulators, and academics. The views, opinions, and information expressed by the Advisory Committees are solely those of the respective Advisory Committee and do not necessarily reflect the views of the Commission, its staff, or the U.S. government.