Mr. Heath Tarbert
Chairman, Commodity Futures Trading Commission
Three Lafayette Centre
1155 21st Street, NW
Washington, DC 20581
July 12, 2019
Dear Chairman Tarbert:
Congratulations on becoming chairman of the CFTC. Welcome to the futures industry. You have joined the CFTC at a critical time and are positioned to lead in important ways.
You have an opportunity to move forward an industry initiative with your very first decisions; whom to choose as CFTC division directors and other senior appointees.
John Lothian News urges you to make a powerful statement about the value of diversity in filling these positions. We encourage you to find women, minorities and other less represented people to potentially fill key positions.
The Futures Industry Association made a decisive board-level statement for diversity in March of this year.
The FIA diversity mission statement of the new initiative states that:
FIA recognizes the benefits that diversity and inclusion can bring to an organization. FIA is committed to fostering diversity and inclusion and will strive to encourage, support and celebrate the diverse voices both within the organization and the industry at large.
You have the chance to make our industry, markets and society more productive and efficient by seeking out the best qualified candidates for Division Director and other senior positions at the CFTC with an eye to inclusion and diversity. We urge you to make appointments that reflect the growing impact of women and minorities in the economy.
Today the U.S. Congress has more women than ever before, with 102 women members representing 23.4% of the 435 members. At a recent Law and Compliance Division conference in Washington, DC in May, about 40% of the attendees were women.
Diversity is not only good policy, it is good for economic growth. Your fellow Commissioner Dawn Stump recently shared in a speech that “S&P Global more recently conducted a data derived assessment of why gender diversity lends to profitability and economic growth.”
John Lothian News has long been a strong voice for diversity and inclusion and was an early supporter of Women in Listed Derivatives and Women in Derivatives. We have had our finger on the pulse of a dynamic and transforming industry and have helped market participants and others manage their non-price oriented risks as the markets moved from open outcry to electronic trading, algorithmic trading, high frequency trading and now to crypto markets.
Congratulations again on your chairmanship of the CFTC. We look forward to your leadership of the commission, which will be made even stronger and more effective with a diverse senior staff.
John J. Lothian
John Lothian News