"I thank President Obama for the confidence he placed in the CFTC staff when, along with Congress, he called upon the agency to reform the $400 trillion swaps market. The talented and dedicated staff met the challenge and has brought transparency, competition and oversight to a once dark, closed market. The public and the economy now are benefitting from these reforms. I want to congratulate Tim Massad on his nomination today and on the opportunity to lead this remarkable agency. Subject to Senate confirmation, I look forward to working with Tim to ensure a smooth transition. It has been an honor for me to take part in the President’s reform agenda, and I thank him for the privilege.”
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Statement Of CFTC Chairman Gary Gensler On Nomination Of Timothy Massad To Be CFTC Chairman
Date 12/11/2013