Donald has nominated Christopher Giancarlo as the permanent Chair of the CFTC. Mr. Giancarlo has been serving as acting Chair since January 20 - Donald Trump’s inauguration day – and was widely expected to get the permanent nod.

It’s high time that Trump made a move to staff the CFTC 5-member panel, because Sharon Bowen, a Democrat Commissioner, is the only other member at the CFTC. As recently as Monday, Mr. Giancarlo said that little progress can be made at the Agency without a full 5-member panel.

Nevertheless, Mr. Giancarlo must proceed as best he can. On Wednesday, he is expected to give a major policy speech at the annual Futures Industry Association (FIA) conference, where he will lay out his regulatory vision for the agency. Mr. Giancarlo has been critical of the way the agency has implemented many of the new rules required by Dodd-Frank. As chairman, he will likely try and scale back on rules that he believes are overly burdensome.

Giancarlo has been with the CFTC since 2014, when he joined as a Republican Commissioner. Until that point, he had been as EVP for GFI Group, an interdealer broker.