Michael Dawley

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Michael C. Dawley
Occupation Retired
Employer Goldman Sachs
Location New York, NY
LinkedIn Profile
Website www.gs.com

Michael C. Dawley is a long time financial services executive who was managing director and co-head of futures and derivatives clearing services at Goldman Sachs before he retired. He is also the chairman of the board of FIA Global. [1] Dawley joined the board of trustees Institute for Financial Markets (IFM), a nonprofit educational foundation, in 2009.

He was a member of the CME Clearing House Risk Committee and the CFTC Global Markets Advisory Committee.[2] [3]. He is a member of the Chicago Mercantile Exchange and the Chicago Board of Trade, now a merged corporation, CME Group and is vice chairman of the board of the National Futures Association.

In February of 2018 he was re-elected to serve another one-year term as chairman of the board of the National Futures Association.[4]

Dawley is a trustee for The Clearing Corporation Charitable Foundation. He also served on the advisory board of Kent State University's Masters of Financial Engineering Program.


He joined Goldman Sachs in Chicago in 1985 and moved to New York in 1996. Prior to joining Goldman Sachs, Dawley was with E.F. Hutton and traded independently for several years.

He previously served as vice chairman of the BrokerTec Futures Exchange.[5] He also previously served as a director and as chairman of the board of The Clearing Corporation ("CCorp")

During 2003 and 2004, and again from 2009 to March 2014, Dawley served as chairman of the Futures Industry Association[6] (FIA) and currently serves on its board of directors.[7]

On behalf of Goldman Sachs, Dawley is a voting delegate of the Swiss Futures & Options Association.[8]

In 2006, he was named to the newly established FIA Futures Hall of Fame.

In January of 2009, Dawley, along with Richard Berliand of JP Morgan, were named as interim co-chairmen of the FIA heading into the March 2009 FIA Boca Raton International Conference. He was elected chairman of the FIA on March 11, 2009 at the FIA's annual meeting at the FIA conference.[9] Dawley had previously served as FIA chairman.

Published Works[edit]


  • Michael Charles Dawley - NFA ID 0309280

John Lothian News Special Report: Residual Interest, February 2013[edit]

A rule proposed by the Commodity Futures Trading Commission (CFTC) designed to strengthen safeguards for customer deposits at futures commission merchants (FCMs) is threatening to overhaul the futures brokerage system.

The proposed “residual interest” provision introduced last fall, and discussed in a CFTC roundtable on February 5, would require substantial increases in margin buffers by FCMs.

The meeting led by Robert Wasserman, chief counsel of the CFTC’s Division of Clearing and Risk, included panelists Mike Dawley of Goldman Sachs and FIA chairman and Kim Taylor, CME Clearing president who argued that the increased margin requirements under the proposal are substantial. Dawley said the rule, if passed in its current form, would be “one of the most monumental events” in his 30 years in the industry.

John Lothian News has put together a special report on this critical issue. The deadline for comments on this proposed rule is February 15, 2013.


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