The CFTC created two subcommittees under the Market Risk Advisory Committee ("MRAC"): the (i) Central Counterparty ("CCP") Risk and Governance Subcommittee and (ii) the Market Structure Subcommittee.

According to the CFTC, the CCP Risk and Governance Subcommittee will report on and make recommendations directly to MRAC regarding current issues affecting clearinghouse risk management and governance.

Separately, the Market Structure Subcommittee will report on the derivatives markets, including pre- and post-trade transparency and reporting regimes, potential operational risks, and how liquidity and market concentration are affected by competition.

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