Release:                  #4302-99
For Release:          August 11, 1999

WILLIAM J. RAINER SWORN IN AS CFTC CHAIRMAN

Washington -- William J. Rainer was sworn in today as a Commissioner and the eighth Chairman of the Commodity Futures Trading Commission (CFTC), the federal agency that regulates commodity futures and option trading in the U.S.

Mr. Rainer was nominated by President Clinton on June 23, 1999, and confirmed by the Senate on August 5, 1999, to a term expiring April 13, 2004.