IFM Briefs Senate Staff
The IFM provided a derivatives market briefing for legislative staff of the U.S. Senate Committee on Agriculture, Nutrition, & Forestry. The educational program was in advance of the nomination hearings to the Commodity Futures Trading Commission, and commissioners to fill Republican seats. The nominees include former commodity trader, Brian Quintenz; and derivatives consultant, Dawn Stump; and Acting Chairman J. Christopher Giancarlo's for permanent chairmanship.
The mission of the Commodity Futures Trading Commission (CFTC) is to foster open, transparent, competitive, and financially sound markets. The Commission consists of five commissioners appointed by the President, with the advice and consent of the Senate, to serve staggered five-year terms. The President, with the consent of the Senate, also designates one of the commissioners to serve as Chairman of the CFTC. No more than three commissioners at any one time may be from the same political party.
Along with the IFM, the Senate market education program included remarks by the National Council of Farmer Cooperatives, and the CFTC's Office of Legislative Affairs.