Futures and Options Association
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| Futures and Options Association | |
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| Founded | 1993 |
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| Headquarters | London |
| Products | Advocacy association for futures (and options) industry, reports, publications, conferences |
| Web site | http://www.foa.co.uk |
The Futures and Options Association (FOA), is the main industry association for the European derivatives sector, with membership drawn from banks and financial institutions, brokers, commodity trading houses, energy market participants, fund managers, exchanges, clearing houses, systems providers, lawyers, accountants and consultants.
The FOA has initiated the establishment of MiFID Connect, the EU/US Coalition on Financial Regulation and the Associate Parliamentary Group on Wholesale Financial Markets & Services and was a founder member of the European Parliamentary Financial Services Forum.
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History
The London-based FOA was formed in 1993 following an initiative by the Bank of England and a number of futures industry participants to consolidate the fragmented landscape of trade associations.
A formation committee started work in October 1993 with 100 founder members under the chairmanship of Sir Brian Williamson, a former chairman of Liffe, appointing Michael Jenkins as chairman. The new organization aimed to combine the membership and aims of organizations including the Commodities Traders Group, the London Markets Action Group, the UK Managed Futures Association, the Clearing & Settlement Association and the Joint Exchanges Committee.
The globalization of the derivatives business has seen the FOA establish closer ties with the Futures Industry Association (FIA), formalized in September 2007, with an agreement to form joint committees and reciprocal access to board meetings.[1]
In March of 2011, the FOA and the FIA set up a task force to examine the possibility of closer co-operation, including a possible merger of the two associations. [2]
Leadership
- Anthony Belchambers, CEO
Board Members
- Steve Sparke - Chairman -Marex Financial Ltd</ref>[3]
- Patrick Cirier -Newedge Group (UK Branch)
- Paul Dawson -RWE Supply & Trading GmbH
- Richard Geering -Royal Bank of Canada
- Andy Gooch Natixis Commodity Markets Ltd
- Tim Howkins -IG Group Holdings Plc
- Finbarr Hutcheson
- Jerome Kemp -Citigroup
- William Knottenbelt-The Royal Bank of Scotland Plc
- James Land -Amalgamated Metal Trading Ltd
- Marc Leppard -BP Oil International Ltd
- David Martin -J.P. Morgan Securities Ltd
- David Myers -Deloitte LLP
- Alan Ramsay -HSBC Bank Plc
- Tim Stack -Barclays Capital
- Brooks Stevens- Bank of America Merrill Lynch
- Bill Templer -Morgan Stanley & Co. International Plc
- Paul Willis -ABN AMRO Clearing Bank N.V.
Membership
The main role of FOA is to represent the interests of its members in the public and regulatory domain and deliver a wide range of support services to the membership. The organization:
- Serves as a constructive liaison with regulators, government and other political and trade bodies nationally, throughout Europe and on an international level. (In Brussels, the FOA was a founding member of the European Parliamentary Financial Services Forum, and is an active member of the EPFSF Advisory Committee. In the UK, the FOA initiated the establishment of an Associate Parliamentary Group on Wholesale Financial Markets and Services, which was registered at Westminster in December 2002);
- Helps raise public awareness and understanding of the futures and options industry and;
- Produces standardized industry documentation, publications and guidelines.
Membership
Publications and Events
The FOA organizes the annual International Derivatives Week in London, in partnership with the FIA. The association hosts training seminars and publishes a range of industry newsletters, such as FOA Update, as well as topic-specific updates on regulatory matters.
In mid-2008, the FOA recruited consultancy Oxera to probe plans by IntercontinentalExchange (ICE) and Liffe to establish clearinghouses in Europe as part of a larger investigation into the exchange clearing business in the region.[4]
References
- ↑ Press Release. FOA.
- ↑ FIA and FOA Consider Closer Links. The Financial Times.
- ↑ Press Release. FOA.
- ↑ Industry Association to Probe Exchange Clearing. FinExtra.
