The U.S. Commodity Futures Trading Commission (CFTC) has appointed Indian American Rahul Varma as the Acting Director of its Division of Market Oversight (DMO).

“Rahul has ably served the CFTC for more than a decade and brings a wealth of knowledge and experience to this new role,” said Acting Chairman Caroline D. Pham in a statement on April 2, 2025. “I thank Rahul for his continued leadership in DMO.”

Varma joined the CFTC in 2013 as Associate Director for Market Surveillance within the Division of Market Oversight, overseeing the energy, metals, agricultural, and soft commodities markets.

In 2017, he played a key role in launching the Market Intelligence Branch within DMO and served as its Acting Deputy Director. By 2024, he assumed the role of Deputy Director for the newly combined Market Intelligence and Product Review branches.

Before joining the CFTC, Varma held various positions in risk management and consulting in the private sector. He also served at the Federal Energy Regulatory Commission (FERC) in the Office of Market Oversight and Investigations, the precursor to FERC’s Office of Enforcement.

Varma holds a 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.

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