Former CFTC Commissioner Jill Sommers Is Now Part Of The FTX US Derivatives Board

Twitter icon  •  Published vor 1 Jahr  •  Hassan Maishera

FTX.US Derivatives has announced that former CFTC Commissioner, Jill Sommers, has joined the Company's Board of Directors.

FTX US Derivatives ("the Company"), a Commodity Futures Trading Commission (CFTC) regulated digital asset futures & options exchange and clearinghouse, announced on Thursday that former CFTC Commissioner, Jill Sommers, has joined the Company's Board of Directors.

The company announced this via a press release published a few hours ago. FTX US Derivatives, previously known as LedgerX, has made crypto-related options and swaps contracts available to investors at all times.

The company was the first to launch bitcoin mini contracts in the United States, and its offerings include physical settlement of all contracts, block trading and algorithmic trading opportunities for institutional investors, and direct access for all traders.

While commenting on this latest development, Jill Sommers said;

"I am honored to be joining the FTX US Derivatives Board of Directors to advance the mission of reshaping market structure in the United States. The company has been at the forefront of bridging the gap between traditional and digital assets while staying true to its founding principles of transparency and leading the charge toward becoming the most regulated digital asset exchange in the world. I'm excited to join the board as we continue working closely with regulators to further establish FTX US Derivatives as the premier regulated crypto derivatives trading platform.”

Ms. Sommers also serves as a Senior Advisor to Patomak Global Partners, a member of the board of the Ethics and Compliance Initiative, and a board member of Everybody Wins! DC.

Ms. Sommers was previously nominated by both President George W. Bush and President Barack Obama, confirmed twice by the United States Senate, and served two consecutive terms as a Commissioner of the Commodity Futures Trading Commission. 

With a vast experience in this role, she will be bringing much value to the FTX team. In addition to her time as the CFTC Commissioner, Sommers also worked in various capacities within the derivatives industry during the span of her career.

She handled roles such as   Policy Director and Head of Government Affairs for the International Swaps and Derivatives Association (ISDA) and Managing Director of Regulatory Affairs for the Chicago Mercantile Exchange.       

FTX US Derivatives CEO Zach Dexter commented that;

"I'm thrilled to be working alongside Ms. Sommers as we continue our mission of providing industry-leading derivative services to our users and work to evolve the crypto derivatives trading market structure. Adding Jill's wealth of experience in the derivatives landscape is an invaluable resource for our board as we traverse through the evolving digital asset ecosystem and its integration into the broader financial market structure."

FTX US Derivatives is a digital currency futures and options exchange and clearinghouse regulated by the US Commodity Futures Trading Commission (CFTC). FTX US Derivatives is available to both retail and institutional investors 24x7 and offers physical settlement of all contracts, block trading and algorithmic trading opportunities for institutional investors, and direct access for all traders.

FTX reviews within and outside the United States have been positive, and this could attract many stock traders to the cryptocurrency trading platform. Also, the low FTX fees also mean that the cryptocurrency exchange is growing far more quickly than any other reputable crypto trading platform.

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.