CBOT Statement On Nomination Of William Rainer As Chairman Of The Commodity Futures Trading Commission

CBOT Chairman David P. Brennan and CBOT President/CEO Thomas R. Donovan issued the following joint statement today: "We are pleased that President Clinton has chosen to nominate William Rainer for Chairman of the CFTC. We look forward to a swift confirmation process, and to the opportunity to work both with the new chairman as well as with the current CFTC commissioners to meet the competitive regulatory challenges facing U.S. futures markets. "Currently, U.S. markets are at a distinct competitive disadvantage to the lesser regulated OTC markets and foreign exchanges. It is critical that Mr. Rainer and the Commission remove this disparity immediately so that we have a level regulatory playing field in order to allow U.S. markets to compete fairly and equally."