Walter L. Lukken
Before joining FIA, he served as the chief executive officer of New York Portfolio Clearing (NYPC), a 50/50 joint venture between NYSE Euronext and The Depository Trust & Clearing Corporation (DTCC). Lukken had been serving as senior vice president, Global Market Structure, Office of the General Counsel at NYSE Euronext, since July 13, 2009, before being named CEO of NYPC.
He was previously a commissioner of the Commodity Futures Trading Commission (CFTC) beginning in August 2002. Lukken, who was appointed acting chairman of the CFTC on June 27, 2007, stepped down from the post on Jan. 20, 2009 when president Barack Obama was sworn into office.
Lukken also serves on the advisory committee of the Clearing Corporation Foundation endowed fund for the Institute for Financial Markets. He also serves as an ex-officio member of the IFM's board of trustees.
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.
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 Lugar, handling financial and tax matters.
Lukken was born and raised in the Chicago suburb of Darien, Illinois, but moved to Indiana during his teen years.
John Lothian News Interviews
This two-part interview focuses on the key issues facing exchanges and brokers, as well as a rundown on the Dodd-Frank regulatory process. Published March 7, 2013.
MarketsWiki Education, 2016
“We’re in a very exciting industry. Fundamentally, the demand for risk management in our financial markets to service the real economy is not going to disappear. It may change on the margins and people are going to leave the business, but it is going to be here and innovating for a long time to come.”
Sometimes a MarketsWiki Education presentation is of the “buy one, get one free” variety. Walt Lukken, president and CEO of the Futures Industry Association delivered just that – two interesting and thoughtful presentations – to a crowd of summer interns at the MarketsWiki Education World of Opportunity Chicago 2016.
In the first half, Lukken offers an introduction to the futures industry from the perspective of its representative trade organization. He looks at the state of regulation and politics in the U.S. and abroad and says, despite the many headwinds, the outlook for the derivatives industry is quite positive indeed.
He then offers up five important suggestions for improving one’s career path – ideas that hold true whether one is a freshly hired intern, an occupant of a corner office in the C-suite, or anywhere in between.
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