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Opalesque Geneva:

The ongoing tragedy in Ukraine has resulted in extreme volatility and, at the same time, record trading volume on global markets, Rostin Behnam, the chair of the U.S. Commodity Futures Trading Commission (CFTC) told the International Futures Industry Conference in Florida on March 16th. Markets are currently operating well. However, he added, there remain unknows, especially in the derivatives space.

CFTC staff are using every tool the agency has to ensure that commodity markets continue to fairly and transparently serve the intended price discovery and risk management function, he said.

"For CFTC regulated markets, surveillance staff are surgically focused on their analysis of trading for any manipulative, inappropriate or disruptive conduct. Commission staff are actively monitoring compliance by exchanges, self-regulatory organizations, and intermediaries for trade processing, execution, and clearing."

"We must hold fast to our regulatory structures and resist the urge to make ad hoc decisions to avoid the natural outcomes of market forces," he added.

In the wake of the layering of sanctions these last few weeks, the CFTC has been engaging with the Treasury Department, and reaching out to market participants to make sure that general licenses issued by the Office of Foreign Assets Control are available and ready to be used to manage and address ex......................

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