WASHINGTON (Reuters) - The U.S. commodities regulator said on Friday it was monitoring the effects of Britain's vote to leave the European Union, and that the markets its oversees, which include derivatives, are functioning properly.

"Following the United Kingdom’s vote to leave the European Union, the CFTC is closely monitoring the derivatives markets and working with the exchanges and clearinghouses to ensure that they function properly and with integrity," said Commodity Futures Trading Commission Chairman Timothy Massad in a statement.

"‎While there is significant volatility, the markets we oversee are currently functioning normally," he also said.

(Reporting by Lisa Lambert; Editing by David Gregorio)