August 1, 2012; Washington, D.C.—The Wholesale Market Brokers’ Association Americas announced today Christopher Giancarlo has been elected Chair of the Association. Mr. Giancarlo is Executive Vice President at GFI Group. He succeeds Chris Ferreri, Managing Director of Hybrid Trading at ICAP.
“US economic recovery is being held back to a critical extent by regulatory uncertainty and fear that rulemaking under the Dodd Frank Act will restrict trading liquidity in key capital and commodity markets. The Commodity Futures Trading Commission and the Securities and Exchange Commission must properly implement the three key swaps reforms of the Dodd-Frank Act: central clearing, regulated execution and trade reporting without sacrificing vital market liquidity. During this crucial period, the WMBAA will continue to work with regulators to complete the task without unnecessary delay, overreach and complication so that companies can safely and efficiently hedge business risk and lead America back to prosperity and job creation.” Mr. Giancarlo added, “I want to thank past Chairman Chris Ferreri for his tireless efforts and forceful advocacy for the role of our industry in fostering sound, transparent and liquid markets for investors.”
The WMBAA has also chosen Julian Harding to serve as Vice Chair. Mr. Harding is Executive Director at Tradition and a member of the CFTC’s Technology Advisory Committee.
The position of Chair is rotated every six months between the member firms of the WMBAA.
Wholesale Markets Brokers’ Association, Americas
The Wholesale Markets Brokers’ Association, Americas (WMBAA) is an independent industry body representing the largest inter-dealer brokers (IDBs) operating in the North American wholesale markets across a broad range of financial products. The five founding members of the group are: BGC Partners; GFI Group; ICAP; Tradition; and Tullett Prebon. The association seeks to promote the quality and standards of the industry and the critical role played by wholesale brokers in the efficient functioning of financial markets, working with key public policymakers on regulation and oversight of over-the-counter (OTC) markets and their participants. For more information, please go to www.wmbaa.org.
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