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The Financial Markets Group analyzes public policy issues in financial markets from multiple perspectives. The group applies legal, market practitioner, technological and other expertise to study challenges and risks in financial markets and infrastructures.

By communicating its findings to policymakers, regulators, industry leaders and the public, primarily through published work and conferences, the group contributes to the Federal Reserve’s mission of fostering the stability, integrity, and efficiency of the nation’s monetary, financial, and payment systems. The group has particular expertise in the derivatives markets and clearinghouses in which Chicago is a global leader.

We support a diverse and inclusive work environment where employees and stakeholders are respected, treated fairly, and given equal opportunities to perform to their fullest potential. By valuing diverse experiences, styles, approaches and ideas, we can achieve our goals, serve our stakeholders and become a higher-performing organization.


Meet our staff

Nahiomy Alvarez
Alvarez, Nahiomy
Senior Financial Markets Analyst
Alessandro Cocco
Cocco, Alessandro
Vice President
Ketan Patel
Patel, Ketan B.
Policy Advisor and Head of Financial Markets Risk Analysis
photo of sam schulhofer-wohl
Schulhofer-Wohl, Sam
Senior Vice President and Director of Financial Policy
Maggie Sklar
Sklar, Maggie
Senior Policy Advisor and Director of International Engagement
John Spence
Spence, John
Financial Markets Analyst
Steigerwald, Robert
Senior Policy Advisor, Financial Markets

Publications, conferences and news

Our staff frequently publishes articles, working papers, conference agendas, and more. You can view them all below, or use the dropdown to select a specific category.

Currently viewing:

Chicago Fed Hires Ketan B. Patel as Policy Advisor and Head of Financial Markets Risk Analysis

Patel will be responsible for analyzing the public policy implications of risks in financial markets and financial market infrastructures. The group’s research on financial market institutions, technology and infrastructure helps inform and foster stable and efficient national monetary, financial and payments systems.

The next Joint Deutsche Bundesbank – European Central Bank – Federal Reserve Bank of Chicago Conference on CCP Risk Management will be hosted in early March 2021

Monetary Policy Implementation With an Ample Supply of Reserves

By Gara Afonso, Kyungmin Kim, Antoine Martin, Ed Nosal, Simon Potter and Sam Schulhofer-Wohl

Chicago Fed Hires Maggie Sklar as Senior Policy Advisor and Director of International Engagement

Maggie Sklar joined the economic research department as senior policy advisor and director of international engagement in the financial markets group. Sklar reports to Vice President Alessandro Cocco.

Chicago Fed Hires Vice President of Financial Markets Group

The Federal Reserve Bank of Chicago announced that Alessandro Cocco will join the economic research department on October 21 as vice president of the financial markets group. Cocco will report to senior vice president Sam Schulhofer-Wohl.

A CCP Is a CCP Is a CCP

By Robert Cox and Robert Steigerwald

Non-Default Loss Allocation at CCPs

By Rebecca Lewis and John W. McPartland

Blockchain and Financial Market Innovation

By Rebecca Lewis, John W. McPartland and Rajeev Ranjan

Symposium on OTC Derivatives

Conference agenda

Symposium on Central Clearing

Conference agenda

A New Approach to Stock Market Execution

By John W. McPartland and Rebecca Lewis

2014 Derivatives Symposium

Conference agenda

The Role of Time-Critical Liquidity in Financial Markets

By Robert Steigerwald and David Marshall

2013 Derivatives Symposium

Conference agenda

What Tools Do Vendors Provide to Control the Risks of High Speed Trading?

By Carol Clark, Richard Heckinger, Rajeev Ranjan and John W. McPartland

What Is Clearing and Why Is It Important?

By Robert Steigerwald and Ed Nosal

Policymakers, Researchers, and Practitioners Discuss the Role of Central Counterparties

By Douglas D. Evanoff, Daniela Russo, and Robert Steigerwald, 2006



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