Rostin Behnam

Rostin Behnam is an American lawyer and government official who currently serves as Chairman of the Commodity Futures Trading Commission.[1]

Rostin Behnam
Chair of the Commodity Futures Trading Commission
Assumed office
January 21, 2021
PresidentJoe Biden
Preceded byHeath Tarbert
Commissioner of the Commodity Futures Trading Commission
Assumed office
September 6, 2017
PresidentDonald Trump
Joe Biden
Preceded byMark Wetjen
Personal details
Political partyDemocratic
EducationGeorgetown University (BA)
Syracuse University (JD)

Early career

Behnam worked as a proprietary equities trader in New York City before earning his Juris Doctor degree at Syracuse University. After graduation, he worked for the New Jersey Bureau of Securities, then practiced law in New York City.[1]

Government service

Behnam was senior counsel to Democratic Senator Debbie Stabenow. In August 2017, he was nominated as a commissioner of the Commodity Futures Trading Commission by President Donald Trump.[2][3]

On January 21, 2021, Behnam assumed the role of Acting Chairman following President Joe Biden's inauguration.[4] His term expired on April 13, 2021. He was re-nominated for a new term through June 19, 2026, and was confirmed on December 15, 2021.[5] President Biden nominated him as permanent chairman and he was confirmed by the Senate the same day.[6] At the time of his appointment, Behnam was expected to increase regulation of the Wall Street derivatives market.[7]

Stance on cryptocurrency and FTX

In October 2022, Behnam said he was "impressed" by cryptocurrency exchange FTX's application to allow its U.S. operation, FTX.US, to clear customers’ margin-backed derivatives trades without intermediaries.[8][9]

Personal life

Behnam was raised in New Jersey.[10] He currently lives in Baltimore with his wife and three children.[1]

References
  1. "Chairman Rostin Behnam". www.cftc.gov. Retrieved December 2, 2022.
  2. "President Donald J. Trump Announces Intent to Nominate Personnel to Key Administration Posts". The White House. July 17, 2017. Archived from the original on August 9, 2017. Retrieved August 9, 2017.Public Domain This article incorporates text from this source, which is in the public domain.
  3. "PN746 — Rostin Behnam — Commodity Futures Trading Commission". Congress.gov. Retrieved August 9, 2017.
  4. "CFTC Names Rostin Behnam Acting Chairman". CFTC.gov. Retrieved August 4, 2021.
  5. "PN1147 - Nomination of Rostin Behnam for Commodity Futures Trading Commission, 117th Congress (2021-2022)". www.congress.gov. December 15, 2021. Retrieved December 16, 2021.
  6. "PN1146 - Nomination of Rostin Behnam for Commodity Futures Trading Commission, 117th Congress (2021-2022)". www.congress.gov. December 15, 2021. Retrieved December 16, 2021.
  7. "Biden Said to Pick Behnam as Top U.S. Derivatives Regulator". Bloomberg.com. August 13, 2021. Retrieved September 10, 2021.
  8. "CFTC's Behnam Calls FTX Idea a Potential 'Evolution' in Market Structure". finance.yahoo.com. October 14, 2022. Retrieved December 2, 2022. FTX's proposal to cut out the middlemen in U.S. crypto derivatives has shaken traditional financial firms... CFTC Chair Rostin Behnam said he couldn't comment on when the agency may respond to the crypto exchange unit's proposal, nor which way it might lean, but he revealed how impressed he is with the idea on Friday at the Financial Markets Quality Conference at Georgetown University.
  9. "Financial Markets Quality Conference 2022". Psaros Center for Financial Markets and Policy. Retrieved December 2, 2022.
  10. Sutton, Sam; Davidson, Kate (September 28, 2022). "The Rostin Behnam Roadshow". POLITICO. Retrieved December 2, 2022. Rostin Behnam had to go all the way home to hear the same thing he's been hearing in Washington for months. The Commodity Futures Trading Commission chair returned to his native New Jersey


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