Donna Redel

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Donna Redel
NationalityAmerican
OccupationChair, Board of Commodity Exchange; Managing Director, World Economic Forum

Donna Redel is an American businesswoman and philanthropist.

Contents

Education

Redel attended Barnard College (B.A. 1974), Columbia Business School (M.B.A. 1978) and Fordham University School of Law (J.D. 1995), where she later developed and taught a course on Risk Management and Derivatives. She currently teaches at Wharton, Fordham Law and Fordham Gabelli School a course on Blockchain-Crypto Currencies-Digital Assets and a second course at Fordham Law on Smart Contracts and DeFi. . [1]

Career

Redel has managed global organizations, working especially in financial performance and governance issues, for over 30 years. Redel began her career as an investment banker, and made history in 1992 when she became the only woman ever elected Chairman of the Board of Commodity Exchange, Inc. (COMEX). [2] [3] Completed during her tenure was a merger with the New York Mercantile Exchange, creating the world's largest physical commodity exchange. From 1994 – 2000 Redel served as Chief Information and Technology Officer for both the International and Derivatives divisions of Prudential Securities. [4]

In 2000, Redel joined the World Economic Forum as Managing Director and Board Member. At the Forum Redel was directly responsible for the 1000 corporate members and the development of the Strategic Partners. Redel is known for growing a major portion of the Forum's income base while expanding both geographic and gender diversity. [5] [6]

In 2017, Redel added blockchain to her focus. She is a speaker at global conferences on regulatory and business issues, and is an advisor in the field. In 2019, Redel and Joyce Lai co-founded The Fordham Law Blockchain Regulatory Symposium:Regulation and Innovation. The inaugural Symposium, sponsored by Fordham Law School, was held on November 11.

Redel is a board member of NY Angels where she co-founded and co-chairs the Blockchain Committee and was former a member of both Women Corporate Directors and Golden Seeds – Angel Investors for Women Entrepreneurs.

Philanthropy and women's issues

Redel is an active philanthropist, advocating for women's health issues, financial literacy, and mentorship programs. She has served on various boards including the Smeal College of Business at Penn State University, the Alliance Française, Columbia University's Paris Alliance Program, the French Institute Alliance Francaise (FIAF), Jill-E Corp, The American Friends of the Musee d"Orsay, the MoMA Photography Committee, and the Network for Teaching Entrepreneurship. She is a member of the New York - Presbyterian Hospital Advisory Council, as well as its Dean's Council, and serves as President of its Lying-In Hospital executive committee. Redel founded the Women's Leadership Initiative at the World Economic Forum. [7]

Related Research Articles

Commodity market Physical or virtual transactions of buying and selling involving raw or primary commodities

A commodity market is a market that trades in the primary economic sector rather than manufactured products, such as cocoa, fruit and sugar. Hard commodities are mined, such as gold and oil. Futures contracts are the oldest way of investing in commodities. Commodity markets can include physical trading and derivatives trading using spot prices, forwards, futures, and options on futures. Farmers have used a simple form of derivative trading in the commodity market for centuries for price risk management.

Financial regulation Rules or restrictions for financial institutions

Financial regulation is a form of regulation or supervision, which subjects financial institutions to certain requirements, restrictions and guidelines, aiming to maintain the stability and integrity of the financial system. This may be handled by either a government or non-government organization. Financial regulation has also influenced the structure of banking sectors by increasing the variety of financial products available. Financial regulation forms one of three legal categories which constitutes the content of financial law, the other two being market practices and case law.

Chicago Mercantile Exchange Financial and commodity derivative exchange located in Chicago, Illinois, United States

The Chicago Mercantile Exchange (CME) is a global derivatives marketplace based in Chicago and located at 20 S. Wacker Drive. The CME was founded in 1898 as the Chicago Butter and Egg Board, an agricultural commodities exchange. Originally, the exchange was a non-profit organization. The Merc demutualized in November 2000, went public in December 2002, and merged with the Chicago Board of Trade in July 2007 to become a designated contract market of the CME Group Inc., which operates both markets. The chairman and chief executive officer of CME Group is Terrence A. Duffy, Bryan Durkin is president. On August 18, 2008, shareholders approved a merger with the New York Mercantile Exchange (NYMEX) and COMEX. CME, CBOT, NYMEX, and COMEX are now markets owned by CME Group. After the merger, the value of the CME quadrupled in a two-year span, with a market cap of over $25 billion.

Chicago Board of Trade Options and futures exchange in Chicago

The Chicago Board of Trade (CBOT), established on April 3, 1848, is one of the world's oldest futures and options exchanges. On July 12, 2007, the CBOT merged with the Chicago Mercantile Exchange (CME) to form CME Group. CBOT and three other exchanges now operate as designated contract markets (DCM) of the CME Group.

Securities and Exchange Board of India Regulatory body for securities in India

The Securities and Exchange Board of India (SEBI) is the regulatory body for securities and commodity market in India under the ownership of Ministry of Finance, Government of India. It was established on 12 April 1988 and given Statutory Powers on 30 January 1992 through the SEBI Act, 1992.

New York Mercantile Exchange American futures exchange

The New York Mercantile Exchange (NYMEX) is a commodity futures exchange owned and operated by CME Group of Chicago. NYMEX is located at One North End Avenue in Brookfield Place in the Battery Park City section of Manhattan, New York City.

Commodity Futures Trading Commission Government agency

The Commodity Futures Trading Commission (CFTC) is an independent agency of the US government created in 1974, that regulates the U.S. derivatives markets, which includes futures, swaps, and certain kinds of options.

Commodity Futures Modernization Act of 2000

The Commodity Futures Modernization Act of 2000 (CFMA) is United States federal legislation that ensured financial products known as over-the-counter (OTC) derivatives remained unregulated. It was signed into law on December 21, 2000 by President Bill Clinton. It clarified the law so most OTC derivative transactions between "sophisticated parties" would not be regulated as "futures" under the Commodity Exchange Act of 1936 (CEA) or as "securities" under the federal securities laws. Instead, the major dealers of those products would continue to have their dealings in OTC derivatives supervised by their federal regulators under general "safety and soundness" standards. The Commodity Futures Trading Commission's (CFTC) desire to have "functional regulation" of the market was also rejected. Instead, the CFTC would continue to do "entity-based supervision of OTC derivatives dealers". The CFMA's treatment of OTC derivatives such as credit default swaps has become controversial, as those derivatives played a major role in the financial crisis of 2008 and the subsequent 2008–2012 global recession.

Wendy Lee Gramm is an American economist and former head of the Commodity Futures Trading Commission for the Reagan administration. She is also the wife of former United States Senator Phil Gramm. Gramm has gained notoriety for her role in the Enron scandal.

Thomas W. Ewing American politician

Thomas W. "Tom" Ewing is a former Republican member of the United States House of Representatives and the Illinois State House of Representatives. Ewing was a state representative from 1974 to 1991, and a U.S. Congressman representing the 15th district of Illinois from July 2, 1991 until his retirement on January 3, 2001. In January 1995 he was named a Deputy Republican House Whip. While a U.S. Congressman, Thomas Ewing was considered to be a Conservative, favoring a smaller, less intrusive government, but more on economic issues than on social ones.

National Futures Association United States self-regulatory organization for derivatives

The National Futures Association (NFA) is the self-regulatory organization (SRO) for the U.S. derivatives industry, including on-exchange traded futures, retail off-exchange foreign currency (forex) and OTC derivatives (swaps). NFA is headquartered in Chicago and maintains an office in New York City. NFA is a non-profit, independent regulatory organization. NFA does not operate any markets and is not a trade association. NFA is financed from membership dues and assessment fees, and membership is mandatory for many market participants.

The Forward Markets Commission (FMC) is the regulatory body for the commodity market and futures market in India. It is a division of the Securities and Exchange Board of India, Ministry of Finance, Government of India. As of July 2014, it regulated Rs 17 trillion worth of commodity trades in India. It is headquartered in Mumbai and this financial regulatory agency is overseen by the Ministry of Finance. The Commission allows commodity trading in 22 exchanges in India, of which 6 are national.

Brooksley Born American lawyer

Brooksley Elizabeth Born is an American attorney and former public official who, from August 26, 1996, to June 1, 1999, was chair of the Commodity Futures Trading Commission (CFTC), the federal agency which oversees the futures and commodity options markets. During her tenure on the CFTC, Born lobbied Congress and the President to give the CFTC oversight of off-exchange markets for derivatives in addition to its role with respect to exchange-traded derivatives, but her warnings were ignored or dismissed, and her calls for reform resisted by other regulators. Born resigned as chairperson on June 1, 1999, shortly after Congress passed legislation prohibiting her agency from regulating derivatives.

Sumitomo copper affair

The Sumitomo copper affair refers to a metal trading scandal in 1996 involving Yasuo Hamanaka, the chief copper trader of the Japanese trading house Sumitomo Corporation (Sumitomo). The scandal involves unauthorized trading over a 10-year period by Hamanaka, which led Sumitomo to announce US$1.8 billion in related losses in 1996 when Hamanaka's trading was discovered, and more related losses subsequently. The scandal also involved Hamanaka's attempts to corner the entire world's copper market through LME Copper futures contracts on the London Metal Exchange (LME).

Blythe Masters Economist, blockchain promoter

Blythe Masters is a British former executive at JPMorgan Chase, where she was widely credited as the creator of the credit default swap as a financial instrument. She is founding partner of FinTech private equity firm Motive Partners, an advisory board member of the US Chamber of Digital Commerce, and a board member of A.P. Møller - Maersk, GCM Grosvenor, and Credit Suisse Group.

Charles M. Seeger American lawyer

Charles Morgan Seeger III is an American attorney, author, and international derivatives and financial markets expert. Since 1992, Mr. Seeger serves as President & CEO of Financial Markets International, Inc., (FMI) a law and economic consulting firm.

Kathleen M. Hamm is an American lawyer, federal regulator and fintech and cybersecurity expert, formerly a Board Member of the Public Company Accounting Oversight Board, and Counselor to the Deputy Secretary of the U.S. Department of Treasury for cyber policy and financial regulation. In April 2021, her alma mater, University at Buffalo School of Management, named her Accountant of the Year.

LME Copper stands for a group of spot, forward, and futures contracts, trading on the London Metal Exchange (LME), for delivery of Copper, that can be used for price hedging, physical delivery of sales or purchases, investment, and speculation.

Thomas A. Russo American lawyer, professor, and author (born 1943)

Thomas A. Russo is an American attorney and former Wall Street executive. He served as vice chairman and chief legal officer of Lehman Brothers Holdings Inc. and as general counsel for American International Group (AIG), two of the companies central to the 2008-2009 global financial crisis.

References

  1. ↑ "Error".
  2. ↑ Faison, Seth. "Comex Chooses Leader At Time of Big Decisions" "The New York Times", March 25, 1992.
  3. ↑ "Woman Elected to Head Comex" "Los Angeles Times" March 25, 1992.
  4. ↑ Eichenwald, Kurt. "Shake-Up Under Way At Prudential" "The New York Times", June 06, 1994.
  5. ↑ Zunitch, Victoria. "Women Power Brokers Aim for More", January 22, 2003.
  6. ↑ Davies, Robert & Donna Redel. "Can Economic Engagement Offer Alternatives to Extremism?" [ dead link ] "Arab News", September 5, 2005.
  7. ↑ Schepp, David. "Women demand greater say" "BBC News", February 4, 2002.
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