Today, FIA President and CEO Walt Lukken made the following statement after the CFTC issued several no-action letters that give the derivatives industry flexibility to deal with the ongoing global pandemic.
“I applaud the CFTC’s responsiveness in issuing several no-action relief letters today that will help our member companies keep the markets functioning during this global pandemic. These actions by the CFTC demonstrate that Chairman Tarbert, and Commissioners Behnam, Berkovitz, Quintenz and Stump, understand the challenges companies face with a dispersed and remote workforce. We also appreciate the Chairman’s willingness to listen to industry concerns and to adjust as necessary during this ongoing situation.”
“Now more than ever, our markets must stay open and functioning to allow commercial companies the ability to manage risk and discover prices. FIA will continue to work with the CFTC and other global regulators to ensure that the global pandemic does not impair the important societal functions that markets provide.”