Walter L. Lukken
From MarketsWiki
| Walter Lukken | |
| |
| Occupation | Chief Executive Officer |
|---|---|
| Employer | New York Portfolio Clearing |
| Location | Washington, DC |
| Web site | www.nyse.com |
Walter Lukken is chief executive officer of New York Portfolio Clearing (NYPC), effective May 1, 2010. NYPC is a 50/50 joint venture between NYSE Euronext and The Depository Trust & Clearing Corporation (DTCC).[1] Lukken has been serving as senior vice president, Global Market Structure, Office of the General Counsel at NYSE Euronext, since July 13, 2009.
He was previously a commissioner of the Commodity Futures Trading Commission as well as acting chairman of the Commission from June 27, 2007 until Jan. 20, 2009.[2] [3] Lukken, who was appointed acting chairman of the CFTC on June 27, 2007, [4] stepped down from the post on Jan. 20, 2009 when president Barack Obama was sworn into office.[5]
Lukken also serves on the advisory committee of the Clearing Corporation Foundation endowed fund for the Institute for Financial Markets[6]
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Background
Lukken was appointed by former president George W. Bush to serve two terms as a Republican commissioner among the five CFTC commissioner seats. (Two seats are Republican, two are Democratic with the fifth seat of chairman going to the president's party.) His term was due to expire in 2010. He was initially succeeded as acting chairman on Jan. 20, 2009 by CFTC commissioner Michael Dunn until a chairman was approved by the U.S. Senate. Gary Gensler was the presidential nominee to succeed Lukken and Dunn.
As acting chairman, Lukken testified 14 times before Congress and represented the agency as part of the President's Working Group on Financial Markets. He worked frequently with other domestic and foreign financial regulators.
Lukken served as chairman of the CFTC Global Market Advisory Committee (GMAC) until February 2008 when Commissioner Jill E. Sommers was appointed chair. GMAC was created by the Commission to provide an industry forum in which it can discuss complex and novel issues raised by recent globalization of futures markets. In this role, he frequently represented the Commission before international organizations and forums, including the International Organization of Securities Commissions (IOSCO) and the Committee of European Securities Regulators (CESR). He also has addressed the U.S.-China Joint Economic Committee hosted by the U.S. Department of Treasury on the developing role of derivatives markets in China, among other organizations.
Lukken also serves as chairman of the CFTC Energy Markets Advisory Committee (EMAC), announced in February 2008. The committee provides a public forum to examine emerging issues related to the energy markets and the CFTC’s role in these markets under the Commodity Exchange Act.[1]
Prior to joining the CFTC, Lukken served for five years as counsel on the professional staff of the U.S. Senate Agriculture Committee under Chairman Richard Lugar (R-IN), specializing in futures and derivatives markets. In this capacity, he was prominently involved in the development, drafting and passage of the CFMA (H.R. 5660).
He started his career working for Senator Richard G. Lugar, handling financial and tax matters.[2]
Lukken was born and raised in the Chicago suburb of Darien, Illinois, but moved to Indiana during his teen years.
Education
He received his B.S. degree with honors from the Kelley School of Business at Indiana University, and his Juris Doctor degree from Lewis and Clark Law School in Portland, Oregon. He is a member of the Illinois Bar.
Speeches
The CFTC keeps an archive[3] of speeches and testimony of their Commissioners on the CFTC Web site.[4]
Also See
References
- ↑ "CFTC Establishes New Energy Markets Advisory Committee,” 2/13/08. CFTC. Retrieved on February 22, 2008.
- ↑ Statement of Walter L. Lukken, Commissioner of the Commodity Futures Trading Commission, Before The Futures Industry Association. U.S. Commodity Futures Trading Commission. Retrieved on October 13, 2009.
- ↑ Speeches & Testimony. U.S. Commodity Futures Trading Commission. Retrieved on January 11, 2008.
- ↑ CFTC Website. U.S. Commodity Futures Trading Commission. Retrieved on January 11, 2008.
