On 02 April 2025, the United States Commodity Futures Trading Commission (US CFTC) announced the appointment of Rahul Varma as the Acting Director of its Division of Market Oversight (DMO) who has over a decade of regulatory experience and a proven track record in market surveillance and intelligence, Varma steps into this critical leadership role at a time when the integrity and transparency of US commodity markets are under renewed global focus.
Rahul Varma began his career at the US CFTC in 2013 as Associate Director for Market Surveillance within the DMO, overseeing sectors such as energy, metals, agriculture, and soft commodities. In 2017, he played a foundational role in establishing the Market Intelligence Branch, later serving as its Acting Deputy Director. In 2024 he was appointed Deputy Director and consolidated Market Intelligence and Product Review branches, at the intersection of data analytics, product innovation, and regulatory policy.
Prior to joining the US CFTC, Varma held positions in risk management and consulting in the private sector, and served at the Federal Energy Regulatory Commission (FERC) in the Office of Market Oversight and Investigations, the predecessor to the current Office of Enforcement. Varma’s academic background includes a Bachelor of Technology (BTech) from the Indian Institute of Technology (IIT) Delhi, a master’s degree from Case Western Reserve University, and an MBA from George Washington University. His multi-disciplinary education enhances his capability to respond to the evolving demands of financial market oversight in an increasingly complex global environment.
The appointment of Rahul Varma as Acting Director of the US CFTC’s DMO at a time when international markets grapple with volatility, inflationary pressures, and shifting trade dynamics. The United States, as a central player in global commodities and derivatives trading, is reinforcing its regulatory leadership through strategic appointments like Varma’s. His experience in market intelligence and cross-sector surveillance will be vital in strengthening the US CFTC’s ability to respond to market disruptions, enforce compliance, and guide policy formulation with a data-driven approach.
(Source: https://www.cftc.gov/PressRoom/PressReleases/9061-25)
