Good morning Chairman Peterson, Ranking Member Lucas and members of the Committee. Thank you for inviting me to testify today about financial regulatory reform. This Committee has recently moved historic legislation to comprehensively regulate over-the-counter (OTC) derivatives. Today, you requested that I address other aspects of reform. Specifically, I will address how those proposals might intersect with the Commodity Futures Trading Commission’s (CFTC) oversight of markets. I am pleased to testify on behalf of the Commodity Futures Trading Commission (CFTC).