Paul, a former partner in the Washington, D.C. office of McDermott, Will & Emery, served as General Counsel of the Commodity Futures Trading Commission (CFTC) during Rainer's tenure as its Chairman from October 1999 to early this year. As part of Rainer's initiative for comprehensive regulatory reform at the CFTC, Paul led the CFTC's extensive negotiations with the Securities and Exchange Commission (SEC) to construct a joint regulatory scheme for security futures. That effort culminated in the new law that will permit trading of security futures in the United States, incorporated into the Commodity Futures Modernization Act of 2000 passed by Congress last December.
"Bob's extensive experience in securities law and futures regulation will be a tremendous asset to our venture," Rainer said.
"I am eager to work closely again with Bill Rainer," Paul said. "I am excited by the unique opportunity to work with the three major Chicago derivatives exchanges as they launch a new exchange for trading a new product in the United States that promises to be a major step forward for equity derivatives markets around the world."
Prior to joining the CFTC, Paul served as Associate General Counsel at Dean Witter, Discover & Co. from 1987 until he joined Credit Suisse
