Transcript

Global Markets Advisory Committee Meeting June 2, 2004

Commissioner Walter Lukken, Chairman of the Commodity Futures Trading Commission’s Global Markets Advisory Committee (GMAC), announced the membership list for the reorganized committee. CFTC Chairman James E. Newsome appointed Commissioner Lukken the new chair and designated federal official in October 2003.

The committee will meet June 2, 2004, from 2:00 p.m. to 5:00 p.m., at the Commission’s Washington, D.C. headquarters, at Three Lafayette Centre, 1155 21^st Street, N.W., in the first floor hearing room.

Commenting on the Commission’s approval of the GMAC reorganization, Commissioner Lukken stated:

“I am honored to serve as Chairman of the Global Markets Advisory Committee and to announce the individuals that will serve on this important committee. These exchange and clearing leaders, industry professionals and academics--all distinguished in their own right--will help provide this Commission with the policies and standards needed to meet the regulatory challenges of a global marketplace. I look forward to working with these futures industry leaders to tackle the important global issues of the day.”

Commissioner Lukken expects the committee will address the following issues in 2004:

• Global Clearing & Linkage
• Foreign Security Futures Products
• International Regulatory Coordination
• International Enforcement Issues

The Commission created the GMAC in 1998 to provide a forum for discussing the many complex and novel issues raised by the increasing globalization of futures markets. The committee also provides industry with a formal mechanism for making policy recommendations to the Commission. Among its past accomplishments, the GMAC provided the Commission with consensus guidance on allowing U.S. customers to have access to foreign exchange terminals.

A list of GMAC members follows this release. For further information, please visit http://www.cftc.gov/About/CFTCCommittees/index.htm or contact the Commission’s Office of External Affairs, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21^st Street, NW, Washington, DC 20581, (202) 418-5080.

Members of the CFTC’s Global Markets Advisory Committee

Mr. Richard Berliand
Managing Director - Global Head of Futures & Options
J.P. Morgan Securities Ltd

Mr. Robert "Bo" Collins
President
New York Mercantile Exchange

Mr. Adam Cooper
Chairman
Managed Funds Association

Mr. George Crapple
Co-Chair and Co-Chief Executive Officer
The Millburn Corporation

Mr. Bernie Dan
President & Chief Executive Officer
Chicago Board of Trade

Mr. John Davidson
Managing Director
Morgan Stanley

Mr. Kevin Davis
Chairman & Chief Executive Officer
Man Financial Inc.

Mr. James Davison
Chairman and Chief Executive Officer
Cargill Investor Services, Ltd.

Mr. Michael Dawley
Chairman
Futures Industry Association

Mr. Craig Donohue
Chief Executive Officer
Chicago Mercantile Exchange

Dennis Dutterer
Chief Executive Officer
The Clearing Corporation

Mr. Charles "Harry" Falk
President & Chief Executive Officer
New York Board of Trade

Mr. Ron Filler
Managing Director
Lehman Brothers

Mr. Arthur Hahn
Partner
Katten Muchin Zavis Rosenman

Mr. David Hardy
Chief Executive Officer
London Clearing House

The Honorable Philip McBride Johnson
Head of Exchange-Traded Commodities
Skadden, Arps, Slate, Meagher & Flom LLP

Mr. Roy Leighton
Chairman
Futures & Options Association

Ms. Bonnie S. Litt
Managing Director, Associate General Counsel
Goldman, Sachs & Co.

Ms. Joanne Medero
Managing Director & General Counsel
Barclays Global Investors

Mr. Satish Nandapurkar
Chief Executive Officer
Eurex US

The Honorable Susan M. Philips
Dean and Professor of Finance
The George Washington University
School of Business and Public Management

Mr. Bob Pickel
Executive Director & Chief Executive Officer
International Swaps and Derivatives Association

Mr. Dan Roth
President
National Futures Association

Ms. Emily Zeigler
Partner
Willkie Farr & Gallagher