<!-- Swiftype Variables -->


Senate confirms CFTC chairman, 2 commissioners

J. Christopher Giancarlo’s confirmation drew praise from officials at the Managed Futures Association and the Depositary Trade and Clearing Corp.

J. Christopher Giancarlo on Thursday was unanimously confirmed as chairman of the Commodity Futures Trading Commission by the Senate, the agency said in a news release.

Mr. Giancarlo has been interim chairman since January when Timothy Massad resigned.

The Senate also confirmed Brian Quintenz and Rostin Behnam as CFTC commissioners. Mr. Quintenz was founder, managing principal and chief investment officer of Saeculum Capital Management. He left the firm in November. Mr. Quintenz, who was nominated by President Donald Trump May 12, had originally been nominated in 2016 by President Barack Obama and approved by the Senate Agriculture Committee, but that nomination was never voted on by the 114th Congress.

Mr. Behnam was senior counsel for the Senate Committee on Agricultural, Nutrition and Forestry, which recommended his nomination as well as those of Messrs. Giancarlo and Quintenz.

Mr. Giancarlo's confirmation drew praise in separate statements from officials at the Managed Futures Association, a hedge fund group, and the Depository Trust and Clearing Corp., which provides clearing services for derivatives trades.

Richard H. Baker, MFA president and CEO, said the association "looks forward to continuing our dialogue with the CFTC as it deals with vital market issues ranging from automated trading and end-user risks to clearing reforms and position limits."

Larry Thompson, vice chairman at DTCC, said Mr. Giancarlo's "industry experience and his thoughtful approach to public policy make him a strong choice to lead the CFTC. We applaud the steps he's taken with his colleagues to explore how fintech can increase the effectiveness of the CFTC as well as his ongoing commitment to building greater technological expertise within the agency."