Release: #4117-98

For Release: March 10, 1998


Washington--The Commodity Futures Trading Commission (CFTC) announced today the establishment of the "Global Markets Advisory Committee (GMAC)." The Commission created the GMAC to provide a forum in which it can discuss the myriad of complex and novel issues raised by the ever-increasing globalization of futures markets. The Committee will explore the many competitive and regulatory issues facing U.S. markets and U.S. firms engaged in providing financial services on a global basis.

Commissioner Barbara P. Holum will serve as Chairman and Designated Federal Official of this Advisory Committee. The members of the Committee will include those U.S. markets, firms and market users most directly involved in and affected by global operations and will be balanced in terms of points of view represented.

In accepting her appointment, Commissioner Holum stated, "I am honored to Chair this important Committee, and I look forward to working with the representatives of the U.S. futures industry and market users to ensure that this Committee serves as an effective forum to communicate their global concerns to the Commission."

For further information concerning this Committee, please contact Helen G. Blechman, Assistant General Counsel, (202) 418-5116, or the Commission's Office of Public Affairs, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street, N.W., Washington, D.C. 20581, (202) 418-5080.