Release Number 8740-23

Commissioner Pham Announces New Members and Leadership of the CFTC’s Global Markets Advisory Committee and Subcommittees

128 Members in Total Constitute the Largest-Ever Single Advisory Committee Initiative Sponsored by the CFTC

June 30, 2023

— CFTC Commissioner Caroline D. Pham, sponsor of the Global Markets Advisory Committee (GMAC), today announced new members and leadership of the GMAC and its Subcommittees on Global Market Structure, Technical Issues, and Digital Asset Markets. In total, there are 128 members across the GMAC and its Subcommittees, constituting the largest-ever single advisory committee initiative sponsored by the CFTC. The next public meeting of the GMAC is on July 17, 2023 at the New York Stock Exchange. [See CFTC Press Release No. 8730-23]

Commissioner Pham announced that Amy Hong, Head of Market Structure & Strategic Partnerships, Global Banking & Markets, Goldman Sachs, will serve as GMAC Chair. Darcy Bradbury, Managing Director and Head of Public Policy, D.E. Shaw & Co., continues to serve as GMAC Vice Chair. In addition, Kevin Kennedy, Executive Vice President, North American Markets, Nasdaq, and Nadine Chakar, CEO, Securrency, have joined the GMAC as members.

“I am thrilled to welcome the new GMAC and Subcommittee members, and thank them for their willingness to serve and support the GMAC’s work program as we develop consensus solutions to the most significant current and emerging issues in global markets,” said Commissioner Pham. “International collaboration and coordination are critical to promoting financial stability and access to markets. The deep expertise and seasoned experience of our members will be invaluable in proposing pragmatic recommendations for regulatory reform. I am gratified to have the exceptional and proven leadership of Amy and Darcy for our GMAC initiatives.”

“I am proud to further my involvement and serve the CFTC’s GMAC in this new capacity,” said Amy Hong, Goldman Sachs’ Head of Market Structure & Strategic Partnerships for Global Banking & Markets. “I look forward to working with Commissioner Pham and the entire Committee to help ensure the strength and resiliency of derivatives markets globally.” 

Commissioner Pham also announced the following GMAC Subcommittee leadership appointments:

Global Market Structure Subcommittee: Brad Tully, Global Co-Head, Corporate Derivatives and Private Side Marketing, J.P. Morgan, and Michael Winnike, Director, Head of US Market Structure, Global Trading Group, BlackRock, will serve as Co-Chairs.

“We appreciate the opportunity to work with the Commission and broader industry on critical and timely issues impacting global markets,” said Brad Tully, Global Co-Head, Corporate Derivatives and Private Side Marketing at J.P. Morgan.

“Safe and efficient derivatives markets are essential to BlackRock’s ability to manage risk on behalf of our clients. I am delighted to work with the Commission and an esteemed panel of industry leaders to explore how we can advance and adapt the market structure considering rapid technological, macro-economic and regulatory change,” said Michael Winnike, BlackRock’s Head of US Market Structure.

Technical Issues Subcommittee: Allison Lurton, General Counsel and Chief Legal Officer, FIA, and Tara Kruse, Global Head of Infrastructure, Data and Non-Cleared Margin, ISDA, will serve as Co-Chairs.

Allison Lurton, FIA’s General Counsel and Chief Legal Officer said, “This is an opportune time to re-examine current best practices for managing extreme volatility, minimizing disruptions to orderly trading, and protecting market integrity, and FIA is pleased to work with the industry to devise solutions.”

“The GMAC is an ideal forum for global collaboration on key market issues, from improving efficiencies in post-trade processes to enhancing the consistency and accuracy of regulatory reporting. I’m delighted to co-chair the Technical Issues Subcommittee and look forward to working with the other Committee members to help foster safer and more efficient global markets,” said Tara Kruse, Global Head of Infrastructure, Data and Non-Cleared Margin at ISDA.

Digital Asset Markets Subcommittee: Caroline Butler, Global Head of Digital Assets, BNY Mellon, and Sandy Kaul, Senior Vice President, Head of Digital and Industry Advisory Services, Franklin Templeton, will serve as Co-Chairs.

Caroline Butler, Global Head of Digital Assets, BNY Mellon, said, “I’m honored by this opportunity to work alongside my esteemed colleagues across our sector and the CFTC. As our industry continues to evolve, BNY Mellon is committed to playing a leadership role in shaping the future of finance for the betterment of our clients and the broader ecosystem.”

“Franklin Templeton has been a passionate proponent of exploring and delivering opportunities in the digital asset markets and we so appreciate the CFTC’s leadership in this arena and are excited to take on a leadership role and work with other industry participants towards the goal of shaping a 21st century financial ecosystem,” said Sandy Kaul, SVP, Head of Digital and Industry Advisory Services, Franklin Templeton.

Commissioner Pham said, “The GMAC is fortunate to have leaders like Brad, Michael, Allison, Tara, Caroline, and Sandy. I am confident that their efforts will meaningfully advance international and U.S. policy dialogues and inform key standards.”

New GMAC Member appointments:

GMAC Member



Kevin Kennedy



Executive Vice President, North American Markets

Nadine Chakar



Global Market Structure Subcommittee (GMSS) Member appointments:

GMSS Member



Matthew Coupe


Global Head of Cross Asset Market Structure

Michael Winnike


Director, Head of US Market Structure, Global Trading Group

Robert Lynch

BNY Mellon

Head of Fixed Income and Equity for BNY Mellon Markets and CEO of BNY Mellon Capital Markets, LLC

Gil Mandelzis


Founder and CEO

Samina Anwar


Derivative Operations Director

Arianne Adams

Cboe Global Markets

Senior Vice President, Head of Derivatives and Global Client Services

Jonah Platt


U.S. Head of Government and Regulatory Policy

Julie Winkler

CME Group

Chief Commercial Officer

John Murphy

Commodity Markets Council

Global Head of Futures Division, Mizuho Americas

Graham Harper


Head of Public Policy and Market Structure

Laura Kimpel


General Manager of Fixed Income Clearing Corporation and Head of SIFMU Business Development

Jacqueline Mesa 


Chief Operating Officer and Senior Vice President, Global Policy

Dave Olsen


President and Chief Investment Officer, Jump Trading Group

Susan Dauber


Chair, FXPA; Head of Legal and Regulatory – US, Euronext

Francis Todd

Goldman Sachs

Managing Director, Global Head of Market Structure Transition, Global Banking and Markets

Jeroen Krens


Managing Director, Global Banking and Markets, and Chief Operating Officer, Markets and Securities Services

Kara Dutta


Assistant General Counsel, ICE Futures U.S., and General Counsel ICE Trade Vault

Steven Kennedy


Global Head of Public Policy

Brad Tully

JPMorgan Chase & Co.

Global Co-Head, Corporate Derivatives and Private Side Marketing, J.P. Morgan

Tetsuo Otashiro 


Director, Global Policy and Regulation, OTC Derivative Clearing Services

John W. Horkan


LSEG Post Trade and LCH Group Chief Operating Officer and LCH Head of Americas

Edward Backer

Morgan Stanley

Managing Director and Global Head of Cross-Asset Listed Derivatives Execution

Mike Otten


Senior Vice President, OTC Derivatives

Ken McCracken

Nodal Exchange

General Counsel and Chief Regulatory Officer

Angie Karna


Head of Legal for Global Markets, Americas

Tim Crowley


Senior Vice President, Portfolio Management

Ivan Han

SGX Group

Deputy Chief Risk Officer

Wendy Yun


Managing Director, Goldman Sachs Asset Management

Kyle Brandon


Managing Director, Derivatives Policy

Devi Shanmugham


Global Head of Compliance

Scott Fitzpatrick

Tradition Group

CEO, TraditionSEF

Mary-Catherine Lader

Uniswap Labs

Chief Operating Officer

Andrew Smith

Virtu Financial

Senior Vice President 

Marta Poleszczuk

Wellington Management

Director of Fixed Income Trading, Americas

Technical Issues Subcommittee (TISS) Member appointments:

TISS Member



Amelia Kaufman


Director and Legal Counsel, Global Markets Legal

Thane Twiggs


Chief Compliance Officer, Cargill Risk Management

Udesh Jha

CME Group

Managing Director of Post Trade and Optimization Services

Chris Childs


Head of Repository and Derivatives Services and CEO and President, DTCC Deriv/SERV

Ketan B. Patel

Federal Reserve Bank of Chicago

Policy Advisor and Head of Financial Markets Risk Analysis

Allison Lurton


General Counsel and Chief Legal Officer

Teo Floor

The Global Association of Central Counterparties (Netherlands)


David Farrell


Chief Operating Officer, ICE Futures U.S.

Tara Kruse


Global Head of Infrastructure, Data and Non-Cleared Margin

Jonathan Thursby

KOR Financial


Jason Swankoski

Morgan Stanley

Executive Director, Global Head of Strategy and Product, Derivatives Clearing

Christian Sjöberg


Head of Business Development-Post Trade

Lisa Shemie


General Counsel

Kirston Winters


Head of Legal, Risk, Compliance and Government and Regulatory Affairs

Elizabeth Kuit

RBC Capital Markets LLC

Managing Director, Head of Business Management and Liquidity for the Central Funding Group

Elaine Tang

SGX Group

VP, Risk Control

Charles De Simone


Managing Director, Technology and Operations

Scott Andersen

Societe Generale

Director Head of Listed Derivatives and OTC Clearing

Randy Goldsmith


Global Head of Rates and International Institutional Technology

Stuart Giles

Tradition Americas

Chief Strategy Officer

Digital Asset Markets Subcommittee (DAMS) Member appointments:

DAMS Member



Brooke Ybarra

American Bankers Association

Senior Vice President, Innovation and Strategy

Tuongvy Le

Bain Capital Crypto

Partner and Head of Regulatory & Policy

Matt DeCicco


Director, Global Head of Commodities

Caroline Butler

BNY Mellon

Global Head of Digital Assets

Catherine Clay

Cboe Global Markets

Executive Vice President, Global Digital and Data Solutions

Perianne Boring

Chamber of Digital Commerce


Giovanni Vicosio

CME Group

Global Head of Cryptocurrency

Christopher R. Perkins



Steve Humenik

Senior Vice President, Global Head of Derivatives and Head of Legal for the Middle East & Africa

Sheila Warren

Crypto Council for Innovation


Yuval Rooz

Digital Asset

Co-Founder and CEO

Chris Zuehlke 


Partner and Global Head, Cumberland

Jennifer Peve


Managing Director, Global Head of Strategy & Innovation

Matt Haraburda

FIA Principal Traders Group

President, XR Trading

Tom Jessop

Fidelity Digital Assets


Sandy Kaul

Franklin Templeton

Senior Vice President, Head of Digital and Industry Advisory Services

Jason Urban

Galaxy Digital

Global Head of Trading

Allison Parent


Executive Director

Sandra Ro

Global Blockchain Business Council


Lee Brenner

Goldman Sachs

Head of Public Policy, Digital Assets

John O'Neill


Global Head of Digital Assets Strategy

Jennifer Ilkiw


President, ICE Futures U.S.

Scott Lucas

JPMorgan Chase & Co.

Managing Director, Head of Markets DLT

Nicole Valentine

Milken Institute

Director of the Milken Institute’s Fintech Program

Fabian Astic

Moody’s Corporation

Managing Director, Global Head of Decentralized Finance & Digital Assets

Tony Sio


Vice President, Head of Regulatory Strategy and Innovation

Lauren Brinati


Chief Strategy and Risk Officer

Rebecca Rettig

Polygon Labs

Head of Policy

Nadine Chakar

Securrency, Inc.


Thomas Sullivan

Societe Generale

Managing Director, Head of Market Access & Product Development for Digital Assets

Kathy Kraninger

Solidus Labs

Vice President, Regulatory Affairs

René Michau

Standard Chartered

Global Head, Digital Assets

Adam Minehardt

Stellar Development Foundation

Head of U.S. Government Relations

Anton Katz



Chris Bruner


Chief Product Officer

Marvin Ammori

Uniswap Labs

Chief Legal Officer

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. 8703-23]

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. Members include financial market infrastructures, market participants, end-users, service providers, and regulators. Brigitte Weyls is the GMAC Designated Federal Officer, and Gates S. Hurand is the GMAC Alternate Designated Federal Officer.

There are 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.