Obama Nominates GFI Group’s Giancarlo to Serve on CFTC

J. Christopher Giancarlo, executive vice president at interdealer broker GFI Group Inc., was nominated by President Barack Obama to serve on the Commodity Futures Trading Commission, according to the White House.

Giancarlo would fill the Republican commissioner post vacated by Jill E. Sommers, who stepped down last month from the five-member agency that regulates the derivatives market. The Washington-based commission is implementing Dodd-Frank Act regulations that seek to reduce risk in the swaps market that helped fuel the 2008 credit crisis.