Futures Industry Association

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Futures Industry Association
Image:FIA_logo.gif
Founded 1955
Headquarters Washington D.C.
Products Advocacy association for futures (and options) industry, reports, publications, conferences
Web site www.futuresindustry.org

The Futures Industry Association is a U.S.-based industry advocacy and education organization, providing a range of products and support for members in domestic regulatory affairs and, increasingly, for the global futures and options industry.

The FIA's regular members are Futures Commission Merchants, while derivatives exchanges, individuals and other affiliated organizations are classed as associate members. Regular members are account for more than 80 percent of customer business transacted on U.S. futures exchanges.[1]

The FIA Law & Compliance Division monitors legal and regulatory developments affecting the futures and derivatives industry.

In April 2008, the FIA became a Contributor-level sponsor of the MarketsWiki project.

Contents

History

http://www.ise.com/

The FIA was founded in New York in 1955 as the Association of Commodity Exchange Firms to provide a discussion forum and means for improving the operating efficiency of the US futures industry, as well as an educational and informational interface with the public. The association expanded in 1973 to include Chicago-based FCMs and changed its name to the Futures Industry Association in 1978, relocating to Washington D.C.[2]

While continuing to focus on domestic issues, such as Commodities Futures Trading Commission reauthorization and industry consolidation - including a high-profile stance in the merger of the Chicago Mercantile Exchange and the Chicago Board of Trade[3], the FIA has expanded its global reach, creating FIA Asia in 2006 and increasing co-operation with the European-focused Futures and Options Association[4].
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In September of 2008, FIA employee Gini Orange was found murdered in her apartment in the Falls Church, Virgina area.[5]

The Futures Hall of Fame, which annually recognizes those who have made a mark on the industry, was established in 2005.

Leadership

Board of Directors [6]

Public Directors:

Special Advisors:

Industry Advocacy

The FIA serves as a liaison between the industry and Congress, the CFTC and other regulators whose activities affect the derivatives markets. FIA staff monitors legislative and regulatory developments, attends CFTC meetings and Congressional hearings, testifies before Congress and regulators and writes comment letters on proposed rules and other issues that impact the industry.

In March of 2008, the FIA published a white paper, "Market Participant’s Perspective: Status of Transaction (Clearing and Exchange) Fees on a Global Basis,"[7][8] prepared for the FIA by Mark Connelly of RSM McGladrey.

Data and Publications

Futures Industry Magazine is published six times a year by the FIA for brokerage firm management, futures professionals, active corporate, institutional and individual traders, members of Congress and their staffs, regulatory officials, and domestic and international press.[9]

The FIA collects and compiles daily trading volume and open interest data on all domestic and international futures, options on futures and stock indexes, interest rate and currency contracts traded on U.S. securities exchanges. Reports on volume and open interest are made available to FIA members and other industry participants.

In addition to monthly statistics, the volume report includes comparisons with previous year and year-to-date figures. The information is compiled both by exchange and by commodity group, highlighting significant changes. Each January, FIA creates a year-end report which provides information by commodity group for five years and graphically provides more than 20 years of data.

Industry Events

The FIA hosts a number of annual and single-session events and conferences in cities around the world. Events can have a broad industry focus, for example, the annual Futures & Options Expo showcases risk management products, trading tools, books and exchange and technology products as presented by more than 100 US. and international companies. The Expo also offers a variety of sessions that allow participants to discuss industry trends, hear experts' views on key issues, improve trading skills and learn about new products, systems and practices. The programs include sessions for business, operations and technology professionals, and traders. More than 4,000 people from more than 30 countries attend Expo in a typical year ranging from senior staff at brokerage firms and exchanges to professional traders, floor traders, CTAs and CPOs, and individual investors. The first Expo, in a trial run, was held on the CME trading floor in the 1980s.

FIA events can also be much more in-depth and specific, such as the annual Law & Compliance Division Workshop, which hosts compliance officers, attorneys and regulators to consider issues affecting the legal and regulatory framework of the derivatives industry.

Membership

The FIA's membership[10] includes nearly 250 corporate members. Regular members are Futures Commission Merchants. Associate members include U.S. and international exchanges and clearinghouses, banks, legal and accounting firms, Introducing Brokers, Commodity Trading Advisors, Commodity Pool Operators and other market users, and information and service providers headquartered in the US and abroad.

Regular members[10] are futures commission merchants.

Associate members[10] are U.S. and international exchanges and clearinghouses, banks, legal and accounting firms, introducing brokers, commodity trading advisors, commodity pool operators and other market users, and information and service providers headquartered in the U.S. and abroad.

References

  1. ↑ "FIA website. FIA. Retrieved on November 4, 2007.
  2. ↑ Futures industry in USA and the role Chicago plays- Jerry Cedicci-RObin Trehan. PRLog. Retrieved on December 12, 2008.
  3. ↑ Press Release. FIA. Retrieved on January 3, 2008.
  4. ↑ Press Release. FOA. Retrieved on January 3, 2008.
  5. ↑ Man Is Charged in Slaying at Apartment. Washington Post. Retrieved on October 20, 2008.
  6. ↑ Board Members. FIA. Retrieved on May 1, 2008.
  7. ↑ Market Participant’s Perspective: Status of Transaction (Clearing and Exchange) Fees on a Global Basis. Futures Industry Association. Retrieved on March 19, 2008.
  8. ↑ Market Participant’s Perspective: Status of Transaction (Clearing and Exchange) Fees on a Global Basis, with Appendix. Futures Industry Association. Retrieved on March 19, 2008.
  9. ↑ Home page. Futures Industry Magazine. Retrieved on November 5, 2007.
  10. ↑ 10.0 10.1 10.2 FIA Member Firms. Futures Industry Association. Retrieved on October 15, 2007.

External links

Retrieved from "http://www.marketswiki.com/mwiki/Futures_Industry_Association"
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