CFTC Taps Global Index Strategies President As Market Oversight Director
September 10 2009 - 10:51AM
Dow Jones News
The Commodity Futures Trading Commission said Thursday it has
appointed former futures trader Steven Schoenfeld to serve as the
new director of its Division of Market Oversight.
Schoenfeld, who now serves as president of the consulting firm
Global Index Strategies, will succeed current director and CFTC
veteran Richard Shilts. Shilts will now serve as a deputy director
of the division.
"I am pleased that Steven will be joining our team and I look
forward to working closely with him to modernize regulatory
oversight of our critical markets," CFTC Chairman Gary Gensler
said. "Steven brings a depth and breadth of industry knowledge that
will be invaluable to the CFTC as we fulfill our mission to protect
the American people by lowering risk, promoting transparency and
protecting market integrity."
The CFTC's Market Oversight Division is in charge of market
surveillance, product review and market compliance issues. It is
responsible for ensuring that markets are accurately reflecting
supply and demand fundamentals. It is also the division that has
been collecting quarterly data from swap dealers to get a better
picture of the over-the-counter market trading activity by index
investors.
Before serving as president of Global Index Strategies, which
specializes in financial product development, Schoenfeld worked as
a chief investment officer for global quantitative management at
Northern Trust Corp. (NTRS), a managing director at Barclays Global
Investors, an investment officer at the World Bank's International
Finance Corp. and as a futures trader at Singapore Exchange Ltd.
(S68.SG).
He was a Fulbright scholar in economics at the National
University of Singapore and received an M.A. in international
relations from the Johns Hopkins School of Advanced International
Studies.
-By Sarah N. Lynch, Dow Jones Newswires; 202-862-6634;
sarah.lynch@dowjones.com.