Release Number 8717-23
Commissioner Pham Announces Update on Global Markets Advisory Committee Work Program
June 12, 2023
Washington, D.C. – CFTC Commissioner Caroline D. Pham, sponsor of the Global Markets Advisory Committee (GMAC), today announced the GMAC has received public input on its proposed work program that will be addressed through its three Subcommittees: Global Market Structure, Digital Asset Markets, and Technical Issues. Representative members from market participants, financial market infrastructures, end-users, service providers, regulators, and other members of the public will bring their expert knowledge and experience to develop pragmatic recommendations to these significant global issues.
“I am excited by all the feedback and active engagement on the GMAC’s initiatives,” said Commissioner Pham. “The GMAC’s work is very timely given recent market events and news reports, which we will examine further through expert presentations and in-depth discussions during our anticipated July 17 meeting. We will, of course, look at tokenized asset markets, as well as Treasury market reform, and the upcoming requirements for swap block thresholds. I look forward to announcing further details soon.”
Commissioner Pham recently announced the 2023-2025 proposed work program for the GMAC, including the Global Market Structure Subcommittee, the Digital Asset Markets Subcommittee, and the Technical Issues Subcommittee and called for input from the public. [See CFTC Press Release No. 8648-23]. For more information about this advisory committee, including its members, visit GMAC.
The GMAC was created to advise the Commission on issues that affect the integrity and competitiveness of U.S. markets and U.S. firms engaged in global business, including the regulatory challenges of a global marketplace that reflects the increasing interconnectedness of markets and the multinational nature of business. The GMAC also makes recommendations regarding international standards for regulating futures, swaps, options, and derivatives markets, as well as intermediaries.
The GMAC is one of 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.