Walter L. Lukken Appointed To Chair CFTC's Global Markets Advisory Committee

The Commodity Futures Trading Commission (CFTC) announced today the appointment of Commissioner Walter L. Lukken to serve as Chairman and Designated Federal Official of its Global Markets Advisory Committee (GMAC). The GMAC was created by the Commission to provide a forum in which it can discuss the many complex and novel issues raised by the ever-increasing globalization of futures markets. Under Commissioner Lukken's leadership, the GMAC will continue to 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 Lukken takes over the GMAC chair from Commissioner Barbara P. Holum who has chaired this committee since March 1998. In announcing this appointment, CFTC Chairman James E. Newsome stated, "On behalf of the Commission, I wish to thank Commissioner Holum for her stellar stewardship of the GMAC. The Commission has benefited immensely from the efforts of the GMAC and I expect the Commission to continue to benefit from the GMAC's deliberations under the leadership of Commissioner Lukken."

In accepting his appointment, Commissioner Lukken commented, "It is an honor to chair this committee and I look forward to working with market participants, my fellow commissioners and other regulators on global market issues. The futures industry stands to play a key role in the increasingly global economy and I expect our committee will provide an important forum for various market players to discuss international challenges and opportunities."