Transcript

The Market Risk Advisory Committee (MRAC) will hold a public meeting on Monday, December 11 from 9:30 a.m. to 12:30 p.m. (EST) at the CFTC’s Washington, D.C. headquarters. Members of the public will also have the option of attending virtually. Commissioner Kristin N. Johnson is the sponsor of the MRAC.

“We welcome MRAC members back to the Commission for our final meeting of 2023. For many years, MRAC members have recommended effective policy solutions designed to address many of the most critical risk management questions facing futures and derivatives markets, and the Committee serves as an invaluable resource to the CFTC. We anticipate hearing about the MRAC subcommittees’ work on consolidation among our registered intermediaries, industry data on block trading, and the risks presented by increased cyber threats against mission-critical third parties, among other things. We also look forward to developing the work to be accomplished by MRAC’s two newest subcommittees,” said Commissioner Johnson.

Advancing the efforts on existing consultations, the MRAC CCP Risk & Governance and Market Structure Subcommittees will present updates on the work they have been pursuing since the last MRAC meeting in July. Members of the CCP Risk & Governance subcommittee will discuss developments regarding technology and operations; CCP resolution and recovery; and margin and collateral guidelines. The Market Structure Subcommittee will provide updates on its work on capacity and concentration in the futures commission merchant market, Treasury market reform, Block implementation rules, and post-trade risk reduction. In addition, MRAC will hear from experts, from both within and without MRAC, regarding the development of consultations by the Future of Finance and Climate-Related Risk Subcommittees.

A formal agenda for this meeting is available here.

Viewing/Listening Instructions: Members of the public may access a live feed by phone. Participants should be prepared to provide their first name, last name, and affiliation, if applicable. Materials presented at the meeting, if any, will be made available on cftc.gov.

Members of the public may submit public comments related to this meeting, identified by “Market Risk Advisory Committee” by December 18, 2023. Follow the instructions for submitting public comments through the Comments Online process. If you are unable to submit comments online, contact Tamika Bent ([email protected]) or Peter Janowski ([email protected]), to discuss alternate means of submitting your comments. Statements submitted will be made available to the public, including publication on cftc.gov. The meeting agenda may change to accommodate other MRAC priorities. For agenda updates and more information about this advisory committee, including its members, visit MRAC.

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.