Jiro Okochi, chief executive officer and co-founder of Reval, a global derivative risk management and hedge accounting solutions provider to over 375 publicly traded companies, was voted a member of the Global Markets Advisory Committee (GMAC) by the five members of the Commodity Futures Trading Commission (CFTC). Okochi will participate in the next meeting of the GMAC, chaired by Commissioner Jill Sommers, on Wednesday, December 9 from 1:00 pm to 5:00 pm. The meeting will be accessible to the public via live webcast on www.cftc.gov.
“I am honoured to be representing the non-financial end-user in issues important to US markets and US businesses competing globally and to be serving alongside Commissioner Sommers and other respected industry professionals and market participants,” Okochi says. He joins Commissioner Sommers and other Committee members comprising individuals representing various US and foreign exchanges, self-regulatory organisations, intermediaries, market users and traders. The December 9 meeting will also be hosting David Wright from the European Commission to discuss issues of mutual importance to US and European policy makers.
According to its charter, the GMAC was created in 1998 to provide the Commission with input on international market issues that affect the integrity and competitiveness of US markets and US firms engaged in global business.
Okochi’s role on the GMAC is a continuation of his efforts to help shape the fair reform of the OTC derivatives market. Last week, Okochi testified before the U.S. Senate Committee on Agriculture, Nutrition and Forestry, urging Congress to consider margin and clearing exemptions for companies that use OTC derivatives to hedge business risk.