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Ádám Farkas, our alumnus and former lecturer, has become an advisor to CFTC, the commission regulating the US derivatives markets

2023-01-31 14:20:57

On January 12, Ádám Farkas, titular associate professor of the Department of Macrofinance, was elected as member the Global Market Advisory Committee (GMAC) of the Commodity Futures Trading Commission (CFTC).

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Farkas Ádám (photo: MTI/Koszticsák Szilárd)

Ádám Farkas was appointed to the prestigious board of 36 members as the only Hungarian professional and as the Chief Executive Officer of the Global Financial Markets Association (GFMA), along with representatives, among others, of the financial service provider Goldman Sachs, the HSBC Bank, the financial-software-media company Bloomberg, and the energy giant company bp. 

CFTC, the regulator of the US derivatives markets, oversees five active Advisory Committees, and one of them is the Global Financial Markets Association (GFMA). Its role is to provide advice on issues that affect the integrity and competitiveness of U.S. markets; U.S. companies engaged in global business activities; and multinational regulatory challenges in the world market. GMAC also makes recommendations on international standards governing futures, swaps, options, and derivatives markets, as well as intermediaries GMAC members include financial market players, end users, service providers, and regulators. 

The CFTC committees facilitate communication between market players, other regulators, and academics. The views, opinions, and information expressed by the Advisory Committees are solely those of the respective Advisory Committee and do not necessarily reflect the views of CFTC, or the U.S. government. 

Ádám Farkas graduated from BCE’s Finance study programme, then he was a lecturer at the Department of Finance, where he also defended his doctoral dissertation. He was a very popular lecturer in the Department of Finance. After his position here, he first joined the Magyar Nemzeti Bank and then became the Head of CIB Bank.  

He was the number one leader of European Banking Authority for many years. 

 We congratulate him on his appointment and wish him much success in his work! 

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GEN.:2023.12.06. - 07:12:48