Federal Register, Volume 79 Issue 223 (Wednesday, November 19, 2014)  
[Federal Register Volume 79, Number 223 (Wednesday, November 19, 2014)]
[Pages 68870-68871]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-27279]



Market Risk Advisory Committee

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice.


SUMMARY: The Commodity Futures Trading Commission (CFTC or Commission) 
is inviting comments on topics for discussion at future Market Risk 
Advisory Committee (MRAC or Committee) meetings and also calling for 
the submission of nominations to this newly established Committee. The 
MRAC is a discretionary advisory committee and was established by the 
Commission in accordance with the Federal Advisory Committee Act.

DATES: The deadline for comments and nominations is December 3, 2014.

ADDRESSES: Comments on topics for discussion at future MRAC meetings 
and nominations should be emailed to [email protected]. Comments 
and nominations may also be mailed to Petal Walker, Chief Counsel to 
Commissioner Bowen, U.S. Commodity Futures Trading Commission, Three 
Lafayette Centre, 1155 21st Street NW., Washington, DC 20581. Please 
use the title ``Market Risk Advisory Committee'' in any comments or 
nominations you submit.

FOR FURTHER INFORMATION CONTACT: Petal Walker, (202) 418-5794; email: 
[email protected].

SUPPLEMENTARY INFORMATION: The MRAC was established to conduct public 
meetings and submit reports and recommendations to the Commission on 
matters of public concern to clearinghouses, exchanges, intermediaries, 
market makers, end-users (e.g., consumers) and the Commission regarding 
systemic issues that threaten the stability of the derivatives markets 
and other financial markets, and to otherwise assist the Commission in 
identifying and understanding the impact and implications of an 
evolving market structure and movement of risk across clearinghouses, 
intermediaries, market makers and end-users. The duties of the MRAC are 
solely advisory and will

[[Page 68871]]

include monitoring and advising the Commission with respect to the 
effects that developments in the structure of the derivatives markets 
have on the systemic issues that threaten the stability of the 
derivatives markets and other financial markets. The MRAC will also 
make recommendations to the Commission on how to improve market 
structure and mitigate risk to support the Commission's mission of 
ensuring the integrity of the derivatives markets and monitoring and 
managing systemic risk. Determinations of actions to be taken and 
policy to be expressed with respect to the reports or recommendations 
of the MRAC shall be made solely by the Commission.
    MRAC members will generally serve as representatives in order to 
provide advice reflecting the views of organizations and entities that 
constitute the structure of the derivatives and financial markets. The 
MRAC may also include regular government employees when doing so 
furthers purposes of the MRAC. Though the precise number of members in 
any category may vary over time, the Commission expects the MRAC to 
have approximately 20-25 members with the following types of entities 
with interests in the derivatives markets and systemic risk being 
represented (and their approximate number): (i) Exchanges (3-5), (ii) 
clearinghouses (1-3), (iii) intermediaries (1-4), (iv) market makers 
(5-8), (v) end-users (4-6), (vi) academia (1-2) and (vii) regulators 
(1-2). The MRAC will hold approximately 2-4 meetings per year and 
members will serve at the pleasure of the Commission. MRAC members will 
not receive compensation or honoraria for their services, and they will 
not be reimbursed for travel and per diem expenses.
    The Commission seeks members who represent organizations or groups 
with an interest in the MRAC's mission and function and reflect a wide 
range of perspectives and interests, including those that may be 
conflicting, related to the derivatives markets and other financial 
markets. To advise the Commission effectively, MRAC members must have a 
high-level of expertise and experience in the derivatives and financial 
markets and the Commission's regulation of such markets, including from 
a historical perspective. To the extent practicable, the Commission 
will strive to select members reflecting wide ethnic, racial, gender, 
and age representation. MRAC members should be open to participating in 
a public forum.
    The Commission invites comments from the public on the topics on 
which MRAC should focus. In other words, topics that:
    (a) Reflect matters of public concern to clearinghouses, exchanges, 
intermediaries, market makers, end-users and the Commission regarding 
systemic issues that threaten the stability of the derivatives markets 
and other financial markets; and/or
    (b) are important to otherwise assist the Commission in identifying 
and understanding the impact and implications of an evolving market 
structure and movement of risk across clearinghouses, exchanges, 
intermediaries, market makers and end-users.

Each comment should include the commenter's name and email or mailing 
    In addition, the Commission also invites the submission of 
nominations to the MRAC. Each nomination submission should include 
relevant information about the proposed member, such as the 
individual's name, title, and organizational affiliation as well as 
information that supports the individual's qualifications to serve on 
the MRAC. The submission should also include the name and email or 
mailing address of the person nominating the proposed member.
    Submission of nomination is not a guarantee of selection as a 
member of the MRAC. As noted in the MRAC's Membership Balance Plan, the 
CFTC identifies members for the MRAC based on Commissioners' and 
Commission staff professional knowledge of the derivatives and other 
financial markets, consultation with knowledgeable persons outside the 
CFTC, and requests to be represented received from organizations. The 
office of the Commissioner primarily responsible for the MRAC plays a 
primary, but not exclusive, role in this process and makes 
recommendations regarding membership to the Commission. The Commission, 
by vote, authorizes members to serve on the MRAC.

    Authority: 5 U.S.C. App. II.

    Dated: November 13, 2014.
Christopher J. Kirkpatrick,
Secretary of the Commission.
[FR Doc. 2014-27279 Filed 11-18-14; 8:45 am]