CFTC chairman J. Christopher Giancarlo named Brian A. Bussey as the director of the Division of Division of Clearing and Risk (DCR), effective Oct. 16. Bussey is currently associate director for Derivatives Policy and Trading Practices in the SEC's Division of Trading and Markets. The DCR oversees derivatives clearing organizations and other market participants in the clearing process, including futures commission merchants, swap dealers, major swap participants and large traders. It also makes recommendations on DCO applications and eligibility, rule submissions, and which types of swaps should be cleared.
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