Commodity Futures Trading Commissioner (CFTC) Jill Sommers, one of two Republicans at the agency, Thursday told President Obama that she plans to resign at the end of the first quarter, more than a year before her current term ends.

Sommers indicated that she does not intend to leave until the agency approves the last group of Dodd-Frank rules. She has sat on the Commission for two years while it worked on Dodd-Frank regulations to reform the derivatives market.

She and Commissioner Scott O’Malia, the only other Republican on the Commission, often joined forces to oppose proposals supported by the majority.

Sommers was first sworn in as Commissioner in August 2007 for a term that expired in April 2009. She was then renominated by Obama to serve a second term at CFTC, which is scheduled to end in 2014.

“Jill has worked to bring common-sense swaps market reforms to life and to safeguard the integrity of the futures market. [She] has been essential to these…efforts. I wish [her] well in all of her future pursuits,” said CFTC Chairman Gary Gensler. Sommers did not say what her next move would be.

Sommers has worked in the commodity futures and options industry throughout her career. In 2005, she was the policy director and head of government affairs for the International Swaps and Derivatives Association. Prior to that, she worked in the government affairs office of the Chicago Mercantile Exchange (CME). While at the CME, she worked closely with congressional staff drafting the Commodity Futures Modernization Act of 2000.

Since the five member commission is limited to three members from a single party and the commission currently has three Democrats, Sommers’ replacement would have to be from the Republican or another party.

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