[U.S. CFTC Chairman Michael Selig Says Derivatives Market Enters New Phase]
Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), wrote in *The Economist* that the global derivatives market has entered a new phase of development, where financial innovation must take the lead. He emphasized that the U.S. will not adopt a regulatory model that restricts market development. The nominal value of the global derivatives market exceeds $1.2 quadrillion, with nearly half of the market regulated by the CFTC. Chairman Michael Selig stated that the U.S. will seek a balance between innovation and market efficiency, and under his tenure, the CFTC will continue to play a leading role in setting rules for the derivatives market and advancing financial innovation.
