Release: #4034-97
For Release: July 8, 1997

CFTC ESTABLISHES OFFICE OF INTERNATIONAL AFFAIRS

Washington--The Commodity Futures Trading Commission (Commission) announced today the creation of an Office of International Affairs. Andrea M. Corcoran will head the Commission's newly established office effective July 23, 1997. Ms. Corcoran has been with the Commission since 1979 and has served the Commission as Director of its Division of Trading and Markets since 1982.

In making the announcement, Commission Chairperson Brooksley Born stated that:

"Over the past several years we have witnessed enormous growth in the international marketplace--new exchanges have been established around the world, trading volume has soared, new regulatory bodies have been created, and the need for cooperation and understanding among international regulators and exchanges has become paramount. In order to keep abreast of these global changes and to continue its leading role in international initiatives, the Commission is establishing an Office of International Affairs. I am very pleased that Andrea Corcoran with her years of experience and great capabilities in this area has agreed to serve as the first head of this office. Her distinguished service to the Commission as Director of the Commission's Division of Trading & Markets makes her extremely well qualified to deal with the many diverse and complex challenges that will confront this office."

Ms. Corcoran received her B.A. degree with great distinction and departmental honors from Stanford University and her L.L.B. degree from Harvard Law School. Ms. Corcoran is a member of the New York, California, and District of Columbia Bars. In August 1988 and again in April 1997, Ms. Corcoran received a Presidential Distinguished Executive Rank Award in recognition of her outstanding accomplishments and contributions to the Commission.