Expert Details

Expert in Commodity Futures, Options Trading, Electronic Trading Issues and CFTC, NFA and CMEGroup Rules and Regulations

Expert ID: 733533 Illinois, USA

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Expert is a recognized expert in analysis of futures and options trading. He has testified on behalf of the Commodity Futures Trading Commission as an expert witness and has served as a consultant to Administrative Law Judges on complicated trading issues. He has extensive knowledge of CFTC and Exchange rules and regulations and of the workings of electronic trading platforms.

He has been retained by futures exchanges to review their investigations and by trading firms that have been the subject of investigations.

He conducts top-notch analyses of futures and options-related issues.

Expert may consult nationally and internationally, and is also local to the following cities: Chicago, Illinois - Rockford, Illinois - Aurora, Illinois - Naperville, Illinois - Joliet, Illinois - Elgin, Illinois - South Bend, Indiana - Gary, Indiana - Milwaukee, Wisconsin - Kenosha, Wisconsin

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Education

Year Degree Subject Institution
Year: 1974 Degree: B.A. Subject: Economics Institution: North Park University

Work History

Years Employer Title Department Responsibilities
Years: 2016 to Present Employer: Undisclosed Title: Owner Department: Responsibilities: Expert analysis of:
• futures and options trading
• margin issues
• electronic trading issues
• compliance with CFTC, NFA and Exchange Rules and Regulations.

Expert serves as an excellent communicator of complex trading issues in terms that are understandable to an audience of persons not familiar with futures and options.
Years: 2010 to 2016 Employer: CFTC Division of Clearing and Risk Title: Risk Analyst Department: Stock Indexes Responsibilities: Expert conducted risk reviews of the largest S&P 500 stock index futures and options traders in the United States. He was also responsible for stress-testing futures and options positions. He conducted margins portfolio analyses as well.

• Conducted in-person risk reviews of the largest and most successful futures and option traders in the world
• Conducted stress tests of all reportable accounts to identify and deal with excessive risk
Years: 1989 to 2010 Employer: CFTC Division of Market Oversight Title: Trade Practice Analyst Department: Responsibilities: Expert conducted Rule Enforcement Reviews of all U.S. Futures and Options Exchanges to determine whether they were adequately enforcing their rules. He supervised a staff of 12 investigators in this role.

Expert determined whether Exchanges took proper disciplinary action and testified as an expert in federal court.

• Supervised a staff of 12 investigators examining trade data to find violations of the Commodity Exchange Act
• Led the Chicago portion of Rule Enforcement Reviews of the major futures exchanges – Determined whether Exchanges took proper disciplinary action
• Testified as an expert in federal court
• Prepared CFTC Chairman Gensler for his testimony before Congress regarding the Flash Crash in 2010
• Served as expert trading consultant to CFTC Administrative Law Judge
• Gave multi-day training classes to new CFTC employees
Years: to Present Employer: Undisclosed Title: Department: Responsibilities: Additional Background Experience: Independently represented the CFTC on special projects in foreign countries including the following:

• Canada – Worked with the Royal Canadian Mounted Police on an investigation of illegal trading on the Winnipeg Grain Exchange -testified as an expert witness

• The Philippines – Directed staff of the Philippine SEC in an investigation of corrupt practices at the Manila Futures Exchange. The investigation resulted in the closure of the Exchange.

• Ethiopia – Worked to help launch of a new commodity futures exchange in the capital of Ethiopia, Adis Ababa. Gave a presentation to exchange staff and government employees there on how to run a compliance program

Government Experience

Years Agency Role Description
Years: 1989 to 2016 Agency: US Commodity Futures Trading Commission Role: Risk Analyst and Trade Practice Analyst Description: (Undisclosed)

International Experience

Years Country / Region Summary
Years: 2004 to 2004 Country / Region: Philippines Summary: Directed staff of Philippines SEC in an investigation of the Manila Futures Exchange,
Years: 2008 to 2008 Country / Region: Ethiopia Summary: Trained regulatory staff for opening of Ethiopia Commodity Exchange

Additional Experience

Expert Witness Experience
Testified as an expert witness for the CFTC Division of Enforcement in two proceedings.
Training / Seminars
Conducted new employee seminars at the CFTC to teach new employees the basics of futures and options trading.

Fields of Expertise

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