Release Number 8101-20

January 10, 2020

CFTC Commissioner Stump Announces Members of the Global Markets Advisory Committee’s New Subcommittee on Margin Requirements for Non-Cleared Swaps

— U.S. Commodity Futures Trading Commission Commissioner Dawn D. Stump today announced the members of the Subcommittee on Margin Requirements for Non-Cleared Swaps (Margin Subcommittee), a new subcommittee of the CFTC’s Global Markets Advisory Committee (GMAC). 

The Margin Subcommittee was established to consider issues raised by the implementation of margin requirements for non-cleared swaps, to identify challenges associated with forthcoming implementation phases, and to make recommendations via a report for the GMAC to consider in advising the Commission.

“As we prepare for the final stage of global margin implementation we should reflect on lessons learned to date while also recognizing the unique complexities presented by the final phase,” said Commissioner Stump, the sponsor of GMAC. “I am confident that the expertise of the newly formed Margin Subcommittee will prove valuable to the Global Markets Advisory Committee and ultimately the Commission. I look forward to joining the members of this subcommittee in kicking off their organizational meeting on Monday, January 13.”

The CFTC sought nominations for the Margin Subcommittee by Federal Register Notice dated October 28, 2019.  Of the highly qualified nominations received in response to the notice, Ms. Wendy Yun, Co-chair of the Derivatives Committee of the Securities Industry and Financial Markets Association (SIFMA) Asset Management Group, was selected to chair the 14-member subcommittee. The Margin Subcommittee is comprised of a wide range of industry participants that have a high-level of expertise in, and experience with, margin requirements for non-cleared swaps and the impact of the requirements on the marketplace and market participants.

See full list of the GMAC Subcommittee on Margin Requirements for Non-Cleared Swaps here and under Related Links.