Mission Statement
The mission of the Office of the Chief Economist (OCE) of the Commodity Futures Trading Commission (CFTC) is to conduct rigorous economic and econometric analysis of derivatives markets; to foster market transparency by disseminating its research to market participants and the general public; and to partner with other CFTC divisions and offices to integrate economic reasoning and data analysis into Commission policy and cost-benefit considerations.
A list of the current members of the Office of the Chief Economists can be found on our Biographies page, which includes backgrounds as well as research interests. The office is led by Bruce Tuckman (Chief Economist) and Scott Mixon (Supervisory Economist).
Featured Research
Risk Appetite and Intermediation by Swap Dealers (Scott Mixon and Esen Onur).
- Swap dealers intermediate the swap exposure of their clients and hedge some residual risk using futures
- We present evidence using novel data on WTI swap positions and futures of swap dealers
- Dealers are faced with imperfect hedges and basis risk
- Equilibrium amount of basis risk taken and amount of intermediation services is correlated with risk appetite of swap dealers
For older research projects, please visit our Research Papers website.