CFTC Chair Selig Defends U.S. Approval of 'Perps'
Michael Selig, Chairman of the Commodity Futures Trading Commission (CFTC), recently defended the decision to approve "perps" for trading within the United States. Selig highlighted the critical importance of fostering the development of this new asset class domestically, arguing against allowing its growth to be confined solely to offshore markets. He acknowledged that established market participants, often termed incumbents, may naturally express apprehension regarding future innovations, but stressed that this should not deter domestic progress in emerging financial instruments. This strategic approach aims to ensure the U.S. remains competitive in evolving financial landscapes.
Michael Selig, Chairman of the Commodity Futures Trading Commission (CFTC), has publicly defended the decision to approve "perps" for domestic use in the United States.
Selig articulated the view that established market players, often referred to as incumbents, frequently express apprehension regarding future financial developments and innovations.
He emphasized the strategic importance of cultivating this emerging asset class within the U.S. rather than allowing its development to occur solely in offshore markets.
According to CNBC Markets, Selig's comments underscore a commitment to domestic financial innovation.
