U.S. Commodity Future Trading Commission

The U.S. Commodity Futures Trading Commission (CFTC) faces an enormous challenge in expanding its mission to create a new regulatory system based on the comprehensive Dodd-Frank regulatory reform and scaling to meet the significant growth of futures trading volume. Phase One helped the CFTC establish a strong foundation for business transformation by partnering with the Office of Information Technology Services (OITS) in the development of an IT Strategy. Phase One delivered a holistic approach towards integrating IT Portfolio Management, IT Strategic Planning, Enterprise Architecture, Information Management and Information Security, helping optimize communication and transparency within OITS and throughout CFTC.

Why This Matters To You

The CFTC, also known as the Commission, was given a monumental task by Congress in propagating rules that will shape the Dodd-Frank Wall Street Reform and Consumer Protection Act, the largest overhaul of the financial markets since the Great Depression. The CFTC helps keep markets transparent, open and competitive, and has the new role of oversight of the $615 trillion over-the-counter derivatives market. The Dodd-Frank financial legislation may make it easier for the CFTC to punish manipulation and disruptive trading in markets for commodities such as oil, wheat and natural gas.

Between 2000 and 2010, Contract Trading volume increased from 580 million to 3.1 billion, representing growth of over 436%. Meanwhile staffing levels of the CFTC, responsible for market oversight, grew by less than 9%. The increased oversight and surveillance responsibilities can only be accomplished by executing a strategy built on smart technology investments.

How We Helped

Phase One partnered with the OITS, including the Office of the Chief Information Officer (OCIO), on developing business transformation plans focused in the areas of IT investment planning, IT Strategic Planning, Enterprise Architecture, Information Management, Project Management Lifecycle, and Information Security.

The OITS manages all the technology that the Commission uses to complete its mission, including acquisition activity and system and infrastructure maintenance, as well as development and implementation of in-house technology solutions. Working alongside OITS, Phase One subject matter experts interviewed stakeholders and performed analysis on existing practices, resulting in assessments of current state practices, followed by target state concepts, recommendations, roadmaps, and action plans. Phase One delivered a clear and actionable strategy that encompasses the integration of business and IT visions, enabling OITS to scale to meet the challenges faced by CFTC.