FTX US Derivatives board appoints ex-CFTC Commissioner Jill Sommers

Rick Steves

“I am honored to be joining the FTX US Derivatives Board of Directors to advance the mission of reshaping market structure in the United States.”

FTX US Derivatives has appointed former CFTC Commissioner Jill Sommers to its board of directors.

She was nominated by both President George W. Bush and President Barack Obama, confirmed twice by the United States Senate, and served two consecutive terms as a Commissioner of the Commodity Futures Trading Commission. She ended her six years of service on July 8, 2013.

Her career includes having worked in a variety of capacities within the derivatives industry, such as Policy Director and Head of Government Affairs for the International Swaps and Derivatives Association (ISDA) and Managing Director of Regulatory Affairs for the Chicago Mercantile Exchange.

Jill Sommers is currently a Senior Advisor to Patomak Global Partners, a member of the board of the Ethics and Compliance Initiative, and a board member of Everybody Wins! DC.

Joins FTX US Derivatives to advance mission of reshaping market structure in US

FTX US Derivatives, previously known as LedgerX, is a CFTC-regulated digital asset futures and options exchange and clearinghouse. The firm was launched in 2017 and offers crypto-related options and swaps contracts available to investors 24/7.

The firm’s offering includes bitcoin mini contracts and physical settlement of all contracts, block trading and algorithmic trading opportunities for institutional investors, and direct access for all traders.

FTX US Derivatives is registered with the CFTC as a ‍Designated Contract Market (DCM), Derivatives Clearing Organization (DCO), and Swap Execution Facility (SEF).

“I am honored to be joining the FTX US Derivatives Board of Directors to advance the mission of reshaping market structure in the United States. The company has been at the forefront of bridging the gap between traditional and digital assets while staying true to its founding principles of transparency and leading the charge toward becoming the most regulated digital asset exchange in the world. I’m excited to join the board as we continue working closely with regulators to further establish FTX US Derivatives as the premier regulated crypto derivatives trading platform”, said Jill Sommers.

Zach Dexter, CEO of FTX US Derivatives, commented: “I’m thrilled to be working alongside Ms. Sommers as we continue our mission of providing industry-leading derivative services to our users and work to evolve the crypto derivatives trading market structure. Adding Jill’s wealth of experience in the derivatives landscape is an invaluable resource for our board as we traverse through the evolving digital asset ecosystem and its integration into the broader financial market structure.”

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