Commodity Markets Council Appoints Doud as President

For Immediate Release        

                        

May 17, 2013

Contact:  Meghan Tran

Meghan.Tran@commoditymkts.org

(202) 842-0400 ext. 104

Commodity Markets Council Appoints Doud as President

The Commodity Markets Council (CMC), an association dedicated to open and competitive global commodity markets, today announced that Gregg Doud has been appointed as its new President. Doud will lead CMC in its mission to represent some of the most important commodity-related businesses in the grains, energy, metals and livestock industries to advocate for free, open and robust commodity markets in the U.S. and around the world.

“We’re excited to bring Gregg on board. His Washington experience, including his time on the Senate Agriculture Committee staff and his extensive background in commodity markets and legislative and regulatory issues, make him an excellent choice to build on CMC’s growing presence in Washington DC and with policymakers globally,” said CMC Chairman Charlie Carey. “Gregg’s leadership and advocacy on commodity markets policy will be vital during this critical time for this industry.”

Doud served on the Senate Agriculture Committee staff for Senators Pat Roberts and most recently Thad Cochran where he managed issues relating to the Commodity Futures Trading Commission, livestock and international trade. Prior to this, Doud spent eight years as Chief Economist of the National Cattlemen’s Beef Association. He has also worked for the agricultural commodity consulting firm World Perspectives and U.S. Wheat Associates. He received his Bachelor’s degree in Agriculture and an MS in Agricultural Economics from Kansas State University.

The Commodity Markets Council is a trade association bringing together commodity exchanges with their industry counterparts. The activities of its members represent the complete spectrum of commercial users of all futures markets. Specifically, their industry member firms are regular users of CME Group markets, including the Chicago Board of Trade, Chicago Mercantile Exchange and New York Mercantile Exchange, ICE Futures U.S., the Kansas City Board of Trade and the Minneapolis Grain Exchange.

 

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CFTC Updates

The following Final Rule has been published:

  • 78 FR 20788
    Dual and Multiple Associations of Persons Associated With Swap Dealers, Major Swap Participants and Other Commission Registrants17 CFR Parts 3 and 23

CFTC Announces Jonathan L. Marcus as General Counsel

Commodity Futures Trading Commission Chairman Gary Gensler today announced that Jonathan L. Marcus has been named the agency’s General Counsel. Mr. Marcus has served at the Commission for the past two years as the Deputy General Counsel for Litigation.

CFTC Approves Final Regulations Governing Exemption from Required Clearing for Inter-Affiliate Swaps

The Commodity Futures Trading Commission (CFTC) today issued a final rule to exempt swaps between certain affiliated entities within a corporate group from the clearing requirement under section 2(h)(1)(A) of the Commodity Exchange Act (CEA) and Commission regulations, subject to a number of conditions.

CFTC’s Division of Swap Dealer and Intermediary Oversight Issues Time-Limited No-Action Relief to Swap Dealers and Major Swap Participants Regarding Certain Recordkeeping Obligations

The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) issued time-limited no-action relief for swap dealers (SDs) and major swap participants (MSPs) concerning certain recordkeeping obligations under Part 23 of the Commission’s Regulations.

CFTC Update

CFTC’s Division of Swap Dealer and Intermediary Oversight Issues No-Action Relief for Certain Futures Commission Merchants Concerning Annual Reports of Chief Compliance Officers

The Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) issued a no-action letter that provides certain futures commission merchants (FCMs) with limited relief surrounding the requirement that chief compliance officers of such FCMs prepare and submit an Annual Report, pursuant to Commission Regulation 3.3.

Coalition Letter Asks President to Welcome Japan into TPP

The food and agricultural organizations and companies that signed onto this letter strongly support the entry of Japan into the Trans-Pacific Partnership (TPP) negotiations and urge the United States and the other members of the TPP to welcome Japan as a full member as quickly as possible.

Click here to read the submitted letter.

CFTC’s Division of Clearing and Risk Issues Limited No-Action Relief from Required Clearing for Partial Novation and Partial Termination of Certain Swaps

CFTC’s Division of Clearing and Risk Issues Limited No-Action Relief from Required Clearing for Partial Novation and Partial Termination of Certain Swaps

The Commission’s Division of Clearing and Risk (Division) today issued a no-action letter that provides relief from required clearing for a limited set of “stub swaps” that remain after the partial novation or partial termination of an original swap that was not required to be cleared because it was executed prior to an applicable compliance date for required clearing.

CFTC Announces that Mandatory Clearing Begins Today

CFTC Announces that Mandatory Clearing Begins Today

Today, swap dealers, major swap participants and private funds active in the swaps market are required to begin clearing certain index credit default swaps (CDS) and interest rate swaps that they entered into on or after March 11, 2013.

CMC Signs onto Coalition Letter

CMC signed onto this letter with agricultural groups to US Trade Representative Ron Kirk commending him on the launch of free trade agreement negotiations with the EU.  Click here to read the letter.

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