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THE WHITE HOUSE

Office of the Press Secretary

For Immediate Release June 24, 1999

       PRESIDENT CLINTON NAMES WILLIAM J. RAINER AS CHAIRMAN AND
        COMMISSIONER OF THE COMMODITY FUTURES TRADING COMMISSION

The President today announced the nomination of William J. Rainer as Chairman and Commissioner of the Commodity Futures Trading Commission.

Mr. William J. Rainer, of Santa Fe, New Mexico, served as the Chair, U.S. Enrichment Corporation from 1994-1998. He is the Co-founder of Greenwich Capital Markets, Inc., where he was the Managing Director from 1981-1987. Previously, Mr. Rainer worked for Kidder, Peabody, & Co., Inc, in New York and London.

Mr. Rainer holds a B.A. and M.B.A. from Southern Methodist University.

The Commodity Futures Trading Commission (CFTC), established in 1974, regulates all U.S. commodity futures and related options markets. The Commission and its staff regulate the trading of futures on tangible items such as farm goods, metals, and crude oil, as well as those on financial interests such as Treasury debt, foreign currencies and stock market indices. The CFTC is responsible for assuring the integrity and efficiency of exchange-traded futures markets.

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