Difference between revisions of "Futures Industry Association"

From MarketsWiki
Jump to: navigation, search
m (Text replace - "R.J. O’Brien" to "R.J. O'Brien")
 
(98 intermediate revisions by 9 users not shown)
Line 1: Line 1:
 
{{FIA_adbox|R}}
 
{{FIA_adbox|R}}
<!-- JLN Content Alert Start -->
 
{| cellpadding="0" cellspacing="0" align="left" valign="text-top" class="marketswikitv-page"
 
|-
 
! class="marketswikitv-page-icon"|  <imagemap>
 
  Image:Mwtv_icon_40.png
 
  desc none
 
  default [http://marketswiki.tv]
 
</imagemap>
 
! class="marketswikitv-page-content"| WATCH: [http://www.marketswiki.tv/2013/07/10/fia-global-walt-lukken-anthony-belchambers/ Walt Lukken and Anthony Belchambers Discuss the Newly Announced FIA Global] on MarketsWiki.tv ''(July 2013)''
 
|}
 
<!-- JLN Content Alert End -->
 
 
{{Infobox_Org
 
{{Infobox_Org
 
| org_name = Futures Industry Association
 
| org_name = Futures Industry Association
| org_logo = [[Image:FIA_logo.gif]]
+
| org_logo = [[Image:FIALogoNew.jpg{{!}}150px]]
 
| foundation = 1955
 
| foundation = 1955
| location = Washington D.C.
+
| location = 2001 Pennsylvania Avenue NW, Suite 600, Washington, D.C. 20006
| products = Advocacy association for futures (and options) industry, reports, publications, conferences
+
[[Image:Map_Of_FIA_Washington_Headquarters.jpg|180px|Image: 180 pixels]]
| twitter = @FuturesIndustry
+
| keypeople = [[Walt Lukken]], President and CEO
| linkedin = 1764668
+
| products =   Advocacy association for futures (and options) industry, reports, publications, conferences
| homepage= [http://www.futuresindustry.org/ www.futuresindustry.org]}}
+
| facebook =  FIAConnect
 +
| twitter =   FIAconnect
 +
| linkedin = futures-industry-association
 +
| youtube = FuturesIndustry
 +
| homepage= [https://fia.org/ www.fia.org]}}
 
<div id="pagefloat">
 
<div id="pagefloat">
 
<div class="content">
 
<div class="content">
Line 33: Line 26:
 
</div>
 
</div>
 
</div>
 
</div>
The Futures Industry Association (FIA) 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 trading|futures]] and [[options]] industry. The FIA also has an arm in Asia called [[FIA Asia]].
+
The Futures Industry Association (FIA) 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 trading|futures]] and [[options]] industry.  
  
The FIA's regular members are [[futures commission merchant]]s, while [[derivatives]] [[exchange]]s, 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.<ref>{{cite web|org=FIA|name=Press Release|url=http://www.futuresindustry.org|date=November 4, 2007}}</ref>
+
FIA's primary members are [[futures commission merchant]]s, while [[derivatives]] [[exchange]]s, individuals and other affiliated organizations are classified as associate members. All told, the FIA represents more than 360 firms and 28,000 individuals.  
  
The [[FIA Law & Compliance Division]] monitors legal and regulatory developments impacting the [[futures]] and [[derivatives]] industry.
+
The global management team includes regional representatives. [[Walt Lukken]] serves as global president and CEO of the organization. [[Bruce Savage]] will serve as head of Europe beginning in August 2019 and [[Bill Herder]] is head of Asia. Functional heads lead the advocacy, legal, operations and finance teams.  
  
In June of 2011, the FIA announced the formation of the [[FIA European Principal Traders Association]], a forum established for firms that [[trade]] their own [[capital]] to identify and discuss issues confronting their trading community. The group was expected to work to define common positions on public policy issues, improve the public’s understanding of the constructive role played by [[FIA Principal Traders Group|principal trading group]]s in the [[exchange-traded]] [[market]]s and promote [[cost]]-effective, equal and [[transparent]] access to European markets.<ref>{{cite web|org=FIA|name=Press Release|url=http://www.futuresindustry.org/epta/|date=June 8, 2011}}</ref>
+
Affiliates of FIA are [[FIA European Principal Traders Association]] (FIA EPTA), [[FIA Japan]], [[FIA Principal Traders Group]] (FIA PTG), FIA Technology Services (FIA Tech) and the [[Institute for Financial Markets]] (IFM).<ref>{{cite web|org=FIA|name=FIA Affiliates|url=https://fia.org/affiliates|date=August 11, 2017}}</ref>  
  
In June of 2013, the FIA announced an agreement in principle with the [[Futures and Options Association]] to form an affiliation of the two organizations under a new structure called [[FIA Global]]. This new structure is intended to enable the two associations to strengthen their influence on cross-border issues, increase coordination between regions, and express the views of FOA and FIA members. Both organizations will continue to operate with their own leadership and staff, separate boards of directors, and distinct membership.<ref>{{cite web|url=http://www.futuresmag.com/2013/06/20/foa-and-fia-announce-agreement-to-combine-organiza|name=FIA press release|org=Futures Magazine|date=June 24, 2013}}</ref>
+
FIA has been a [[Sponsor Page|Contributor-level sponsor]] of [[MarketsWiki]] since 2008.
 
+
The FIA has been a [[Sponsor Page|Contributor-level sponsor]] of [[MarketsWiki]] since 2008.
+
  
 
== History ==
 
== History ==
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 U.S. 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.<ref>{{cite web|url=http://www.prlog.org/10153960-futures-industry-in-usa-and-the-role-chicago-plays-jerry-cedicci-robin-trehan.html|name=Futures industry in USA and the role Chicago plays- Jerry Cedicci-Robin Trehan|org=PRLog|date=December 12, 2008}}</ref>
+
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 U.S. 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 Futures Industry Association in 1978, relocating to Washington D.C.<ref>{{cite web|url=http://www.prlog.org/10153960-futures-industry-in-usa-and-the-role-chicago-plays-jerry-cedicci-robin-trehan.html|name=Futures industry in USA and the role Chicago plays- Jerry Cedicci-Robin Trehan|org=PRLog|date=December 12, 2008}}</ref>
  
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]]<ref>{{cite web|url=http://www.futuresindustry.org/press-center.asp|org=FIA|name=Press Release|date=January 3, 2008}}</ref>, the FIA has expanded its global reach, creating [[FIA Asia]] in 2006 and increasing co-operation with the European-focused [[Futures and Options Association]]<ref>{{cite web|url=http://www.foa.co.uk/external/releases/fia_foa_announcement_sep07.pdf|name=Press Release|org=FOA|date=January 3, 2008}}</ref> The FIA's [[Futures Hall of Fame]], stablished in 2005, annually recognizes those who have made a mark on the industry.
+
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]]<ref>{{cite web|url=http://www.futuresindustry.org/press-center.asp|org=FIA|name=Press Release|date=January 3, 2008}}</ref> - FIA has expanded its global reach, creating [[FIA Asia]] in 2006 and increasing co-operation with the European-focused [[Futures and Options Association]].<ref>{{cite web|url=http://www.foa.co.uk/external/releases/fia_foa_announcement_sep07.pdf|name=Press Release|org=FOA|date=January 3, 2008}}</ref> FIA's [[Futures Hall of Fame]], established in 2005, annually recognizes those who have made a mark on the industry.
  
The FIA also offers educational books and courses, ethics and anti-money training, and historical and static industry data through its affiliated nonprofit foundation, the [[Institute for Financial Markets]] or IFM.
+
In January 2010, the FIA formed the FIA Principal Traders Group to represent proprietary trading groups. That move was followed by the formation of the [[FIA European Principal Traders Association]] in June 2011. Both are regionally focused non-profits created to provide a forum for firms that [[trade]] their own [[capital]] to identify and discuss issues confronting their trading community. The groups work to define common positions on public policy issues, improve the public’s understanding of the constructive role played by [[FIA Principal Traders Group|principal trading group]]s in the [[exchange-traded]] [[market]]s and promote [[cost]]-effective, equal and [[transparent]] access to markets.<ref>{{cite web|org=FIA|name=Press Release|url=http://www.futuresindustry.org/epta/|date=June 8, 2011}}</ref>
  
== Leadership ==
+
Continuing with the organization's increasingly global focus, in June of 2013, the FIA announced an agreement with the [[Futures and Options Association]] to form an affiliation of the two organizations under a new structure called [[FIA Global]]. This new structure is intended to enable the two associations to strengthen their influence on cross-border issues, increase coordination between regions, and express the views of FOA and FIA members.<ref>{{cite web|url=http://www.futuresmag.com/2013/06/20/foa-and-fia-announce-agreement-to-combine-organiza|name=FIA press release|org=Futures Magazine|date=June 24, 2013}}</ref>
*[[Walt Lukken]] President and CEO
+
*[[John M. Damgard]], Senior Advisor to the Board
+
*[[Barbara Wierzynski]], EVP & General Counsel
+
*[[Mary Ann Burns]], EVP, Industry Relations
+
*[[Will Acworth]], Senior Vice President, Communications
+
*[[Allison Lurton]], Senior Vice President & Deputy General Counsel
+
*[[Guy Sheetz]], Senior Vice President, Chief Financial Officer & Chief Administrative Officer
+
*[[Dawn Stump]], Senior Vice President and Head of Government Affairs
+
*[[Adoncia Boykins]], Director of Member Services
+
*[[Joanne Morrison]], Director of Communications and Deputy Editor
+
*[[Marsha Saunders]], Director, Conferences & Tradeshows
+
  
In January 2012, [[Walt Lukken]] was named as the president and CEO of the FIA.<ref>{{cite web|url=http://www.futuresindustry.org/downloads/FIA-Leadership-Succession-011012.pdf|name=FIA Announces Leadership Succession (PDF)|org=FIA|date=January 10, 2012}}</ref><ref>{{cite web|url=http://www.ft.com/intl/cms/s/0/f215db0a-3ab8-11e1-a756-00144feabdc0.html#axzz1iypUuGkh|name=NYSE’s Lukken set to head futures association|org=Financial Times|date=January 10, 2012}}</ref><ref>{{cite web|url=http://www.ft.com/intl/cms/s/0/f215db0a-3ab8-11e1-a756-00144feabdc0.html#axzz1iydKLNK3|name=Walter Lukken front-runner for FIA top job|org=Financial Times|date=January 9, 2011}}</ref>
+
On August 27, 2015, the boards of FIA, [[FIA Europe]] and [[FIA Asia]] announced they agreed to formally merge the three associations in the first quarter of 2016, further strengthening its global footprint.<ref>{{cite web|url=https://fia.org/node/1291/|name=FIA, FIA Europe and FIA Asia Announce Merger Plans|org=FIA|date=August 27, 2015}}</ref>
  
[[Bill Herder]] is the executive director of FIA Asia. He was named to the position in February of 2012.
+
The merger of FIA, FIA Europe and FIA Asia into a single organization took effect on January 8, 2016.<ref>{{cite web|url=https://fia.org/articles/fia-kicks-new-year-single-global-organization|name=FIA Kicks Off New Year as Single, Global Organization|org=FIA|date=January 11, 2016}}</ref>
  
=== Board of Directors ===
+
== Industry Advocacy ==
The FIA in March of 2012 announced the election of board directors at its annual meeting in Boca Raton, Fla. Following the election, the new board elected the association’s officers and public directors. All directors will serve two-year terms unless otherwise noted.
+
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.
  
Following the election, the new board elected the association’s officers and public directors.
+
For example, in 2016 FIA filed more than 70 comment letters with regulators around the globe, focusing on such issues as clearing equivalence, [[MiFID II]] implementation and capital requirements proposed by the [[Basel Committee]].<ref name=YearInReview />
  
The following directors were elected as officers by the new board:
+
==Affiliates==
  
* [[Michael C. Dawley]], Managing Director, Co-Head of Futures and Derivatives Clearing Services, [[Goldman, Sachs & Co.]], was re-elected as Chairman
+
Affiliates of FIA are [[FIA European Principal Traders Association]] (FIA EPTA), [[FIA Japan]], [[FIA Principal Traders Group]] (FIA PTG), FIA Technology Services (FIA Tech) and the [[Institute for Financial Markets]] (IFM).<ref>{{cite web|org=FIA|name=FIA Affiliates|url=https://fia.org/affiliates|date=August 11, 2017}}</ref>
* [[Peter G. Johnson]], Managing Director, Global Head of Futures, OTC Clearing, [[Bank of America Merrill Lynch]], was re-elected as vice Chairman
+
* [[Najib Lamhaouar]], Global Head of Exchange-Traded Derivatives and OTC Clearing, Global Markets, [[HSBC Securities (USA) Inc.]], was re-elected as Secretary
+
* [[Gerald Corcoran]], Chairman and Chief Executive Officer, [[R.J. O'Brien & Associates]], was elected as Treasurer
+
  
The following individuals were elected as public directors by the new board:
+
FIA Tech is FIA's for-profit software subsidiary which operates four systems: the Electronic Give-Up System (EGUS), Project Atlantis, the Reconcilition Software (eRECS) and OCR Data Service. <ref>{{cite web|org=FIA|name=FIA Tech|url=https://tech.fia.org/|date=August 14, 2017}}</ref>
  
* [[Michael R. Schaefer]]
+
FIA Japan was formed as a chapter of FIA before FIA became FIA Global. It acts as the Japanese liaison with FIA's Washington headquarters and many of FIA Japan's members are members of FIA.<ref>{{cite web|org=FIA Japan|name=FIA Japan|url=https://goo.gl/n6vcZv|date=August 14, 2017}}</ref>
* [[Alice P. White]]
+
  
Eight directors were elected for two-year terms in the regular member category:
+
The IFM is an independent, non-profit affiliate of the Futures Industry Association (FIA)focused on education.
  
* [[Patrice Blanc]], President, Futures Brokerage Division, [[Jefferies & Company, Inc.]], and Chief Executive Officer, [[Jefferies Bache]]
+
FIA EPTA and FTA PTG are similar advocacy organizations representing proprietary traders. FIA PTG was founded in 2010 has 23 member firms in the Americas.<ref>{{cite web|org=FIA PTG|name=FIA PTG|url=https://ptg.fia.org/about|date=August 14, 2017}}</ref><ref>{{cite web|org=FIA PTG Annual Reports|name=FIA PTG Annual Reports|url=https://ptg.fia.org/annual-reports|date=August 14, 2017}}</ref>  FIA EPTA was founded in 2011 and has 28 member firms in Europe.<ref>{{cite web|org=FIA EPTA|name=FIA EPTA|url=https://epta.fia.org/|date=August 14, 2017}}</ref>
* [[Gerald Corcoran]], Chairman and Chief Executive Officer, [[R.J. O'Brien & Associates]]
+
* [[Michael C. Dawley]], Managing Director, Co-Head of Futures and Derivatives Clearing Services, [[Goldman Sachs & Co.]]
+
* [[Sanjay Kannambadi]], Chief Executive Officer and Global Head, [[BNY Mellon]] Clearing LLC
+
* [[Najib Lamhaouar]], Global Head of Exchange-Traded Derivatives and OTC Clearing, Global Markets, [[HSBC]] Securities (USA) Inc.
+
* [[Reinhardt Olsen]], Managing Director, North American Head of Exchange-Traded Derivatives, [[UBS Securities LLC]]
+
* [[William Sexton]], Chief Executive Officer, [[Newedge USA LLC]]
+
* [[Michael Yarian]], Managing Director, Head of Futures and OTC Derivative Clearing, [[Barclays Capital Inc.]]
+
  
Four directors were elected to fill the remainder of two-year terms expiring in 2013 in the regular member category:
+
== Membership ==
 +
FIA's membership<ref name="membership">{{cite web|url=http://www.futuresindustry.org/member-firms.asp|name=FIA Member Firms|org=Futures Industry Association|date=October 15, 2007}}</ref> includes more than 350 corporate members.  Regular members are [[futures commission merchant]]s. Associate members include U.S. and international [[exchange]]s and [[clearing house|clearinghouses]], banks, legal and accounting firms, [[introducing broker]]s, [[commodity trading advisor]]s, [[commodity pool operator]]s and other market users, and information and service providers headquartered in the US and abroad.
  
* [[Fredrik Gentzel]], Managing Director, Global Head of Listed Derivatives, [[Deutsche Bank AG]]
+
'''Primary members'''<ref name="membership" /> are only clearing members holding customer funds.  
* [[Jerome Kemp]], Global Head of Exchange-Traded Derivatives Sales and Clearing, [[Citigroup Global Markets]]
+
* [[Emily Portney]], Managing Director, Global Head of Futures and Options, [[J.P. Morgan Securities LLC]]
+
* [[Jeremy Wright]], Global Head of Futures and Options, Markets, [[Royal Bank of Scotland]]
+
  
Five directors were elected for two-year terms in the associate member category:
+
'''Associate members'''<ref name="membership" /> 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.
  
* [[Richard B. Gorelick]], Chief Executive Officer, [[RGM Advisors, LLC]]
+
A full list of primary and associate members can be found [https://fia.org/node/1788/ here.]
* [[Arthur W. Hahn]], Partner, [[Katten Muchin Rosenman LLP]]
+
* [[David S. Mitchell]], Partner, [[Fried, Frank, Harris, Shriver & Jacobson LLP]]
+
* [[Kenneth M. Raisler]], Partner, [[Sullivan & Cromwell LLP]]
+
* [[Donald R. Wilson, Jr]]., Chief Executive Officer, [[DRW Trading Group]]
+
  
The new board re-appointed the following individuals as special advisers to the board: [[Richard Berliand]], management consultant, and [[Gary DeWaal]], Senior Managing Director and Global General Counsel, Newedge Group. In addition, the board appointed [[John Damgard]], the association’s outgoing president, as senior adviser to the board. In addition, the board re-appointed [[Peter F. Borish]] as Chairman of the Institute for Financial Markets, the [[non-profit]] educational and training affiliate of the FIA, and appointed/elected [[Gerald Corcoran]], Chairman and Chief Executive Officer, R.J. O'Brien & Associates LLC, as Chairman of FIA Technology Services, a subsidiary of the FIA that supports electronic execution of [[give-up]] agreements and [[execution]] [[brokerage]] [[payment]]s.
+
== Data and Publications ==
 +
[[MarketVoice]] is published bimonthly, except July and August, by FIA for brokerage firm management, futures professionals, active corporate, [[institutional]] and individual [[trader]]s, members of Congress and their staffs, regulatory officials, and domestic and international press.<ref>{{cite web|name=Home page|url=http://www.futuresindustry.org/fi-magazine-home.asp|org=Futures Industry Magazine|date=November 5, 2007}}</ref>
  
The FIA's board of directors holds elections each year at the organization's annual meeting in March, with terms staggered so that approximately half of the directors are elected each year. In addition to Walt Lukken, president and chief executive officer of the FIA, who serves on the board ex officio, the continuing board directors are:
+
FIA collects and compiles daily [[trading volume]] and [[open interest]] data on all domestic and international [[futures contract|futures]], options on futures and [[stock index]]es, 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.
*[[Philippe Buhannic]], Chairman and Chief Executive Officer, [[TradingScreen Inc]].
+
*[[George E. Crapple]], Co-Chairman & Co-Chief Executive Officer, [[Millburn Ridgefield Corporation]]
+
*[[Christopher Hehmeyer]], Managing Member, [[HTG Capital Partners, LLC]]
+
*[[Malcolm Clark Hutchison, III]], Global Head of Listed Derivatives, [[Morgan Stanley]]
+
*[[Jeffrey Jennings]], Managing Director, Global Head of Listed Derivatives, [[Credit Suisse]] Securities (USA) LLC
+
*[[Peter G. Johnson]], Managing Director, Global Head of Futures, OTC Clearing and FX Prime Brokerage, [[Bank of America Merrill Lynch]]
+
*[[Andy Milnes]], Head of Supply and Trading, Global Oil Americas, [[BP]] Corporation North America, Inc.
+
*[[Edward J. Rosen]], Partner, [[Cleary Gottlieb Steen & Hamilton LLP]]
+
  
== Industry Advocacy ==
+
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. In 2016, FIA debuted its SEF Tracker, an interactive data portal for market participants to look at volume and market share trends in interest rate, FX and credit products traded via SEFs. <ref name=YearInReview />
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,"<ref>{{cite web|url=http://www.marketswiki.com/wiki/images/6/62/FIA_White_Paper.pdf|name=Market Participant’s Perspective: Status of Transaction (Clearing and Exchange) Fees on a Global Basis|org=Futures Industry Association|date=March 19, 2008}}</ref><ref>{{cite web|url=http://www.marketswiki.com/wiki/images/6/63/FIA_White_Paper_with_Appendix.pdf|name=Market Participant’s Perspective: Status of Transaction (Clearing and Exchange) Fees on a Global Basis, with Appendix|org=Futures Industry Association|date=March 19, 2008}}</ref>  prepared for the FIA by [[Mark Connelly]] of [[SunGard]].
+
FIA also offers educational books and courses, ethics and anti-money training, and historical and static industry data through its affiliated nonprofit foundation, the [[Institute for Financial Markets]] or IFM.
  
In August of 2009, the FIA submitted a response to the CFTC about a proposed rule making with respect to the Commission's determination to collect certain data through a new [[Ownership and Control Report]] (OCR).<ref> {{cite web|url = http://www.futuresindustry.org/downloads/Comment_Letter_-_Account_Ownership_and_Control_Report_Final.pdf|name = Account Ownership and Report|org = Futures Industry Association|date = October 6, 2009}}</ref>
+
== Leadership ==
 +
<gallery>
 +
File:WaltLukken2013.jpg|[[Walt Lukken]], President and CEO
 +
File:WillAcworth.jpg|[[Will Acworth]], Senior Vice President of Publications, Data & Research
 +
File:Emma Davey-1- (2).JPG|[[Emma Davey]], interim-Head of Europe and Chief Commerical Officer
 +
File:Bill Herder.jpg|[[Bill Herder]], Head of Asia-Pacific
 +
File:CharlieJones.jpg|[[Charlie Jones]], Senior Vice President of Global Brand Management
 +
File:Allison Lurton.jpg|[[Allison Lurton]], Senior Vice President & General Counsel
 +
File:JacquelineMesa.jpg|[[Jacqueline Mesa]], Senior Vice President of Global Policy
 +
File:GuySheetz.jpg|[[Guy Sheetz]], Senior Vice President & Chief Financial Officer
 +
</gallery>
  
In September of 2009, [[John Damgard]]  spoke to the House Committee of Agriculture on the proposed regulations in the [[OTC]] markets <ref>{{cite web|url = http://www.futuresindustry.org/downloads/FIAstatement_0917_final.pdf|name = Testimony of John M. Damgard|org = Futures Industry Association|date = October 6, 2009}}</ref> and the FIA  submitted their responses to the possible harmonization of the [[Securities Exchange Commission]] and the [[Commodity Futures Trading Commission]]. <ref> {{cite web|url = http://www.futuresindustry.org/downloads/SKMBT_60009091415340.pdf|name = Submission for the Record on Harmonization File Number 4-588|org = Futures Industry Association|date = October 6, 2009}}</ref>  The FIA also submitted to the [[Commodity Futures Trading Commission]] there perspective on the treatment of cleared only [[derivatives]].  <ref> {{cite web|url = http://www.futuresindustry.org/downloads/SKMBT_60009091414130.pdf|name = Seperate Account Class for Cleared Only Derivatives|org = Futures Industry Association|date = October 6, 2009}}</ref>
 
  
== Data and Publications ==
+
[https://fia.org/staff London Office, Singapore Office, Washington, DC Office]
[[Futures Industry Magazine]] is published six times a year by the FIA for brokerage firm management, futures professionals, active corporate, [[institutional]] and individual [[trader]]s, members of Congress and their staffs, regulatory officials, and domestic and international press.<ref>{{cite web|name=Home page|url=http://www.futuresindustry.org/fi-magazine-home.asp|org=Futures Industry Magazine|date=November 5, 2007}}</ref>
+
  
The FIA collects and compiles daily [[trading volume]] and [[open interest]] data on all domestic and international [[futures contract|futures]], options on futures and [[stock index]]es, 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.
+
 
 +
=== Board of Directors ===
 +
 
 +
'''Officers:'''<br>
 +
 
 +
*[[Jerome Kemp]], Global Head of Futures and OTC Clearing, [[Citigroup Global Markets]];  Chairman
 +
*[[Nicholas Rustad]], J.P. Morgan Securities, Vice Chairman
 +
*[[Clark Hutchison]], Managing Director, [[Deutsche Bank]]; Treasurer
 +
*[[Najib Lamhaouar]], [[HSBC Bank plc]]; Secretary
 +
 
 +
'''Board Members:'''<br>
 +
*[[Eric Aldous]], Managing Director, RBC Capital Markets
 +
*[[Clive Christison]], Chief Executive Officer, Global Oil – Americas, BP Products North America Inc.
 +
*[[Gerald Corcoran]], Chairman and CEO, R.J. O'Brien & Associates LLC
 +
*[[Robert Creamer]], President, Geneva Trading
 +
*[[Alicia Crighton]], Goldman, Sachs & Co. LLC
 +
*[[John Dabbs]], Global Head of Prime Derivative Services, Credit Suisse Securities
 +
*[[Michael C. Dawley]], Bluefin Partners, LLC
 +
*[[Jan Bart de Boer]], Chief Commercial Officer, ABN AMRO Clearing
 +
*[[Thomas Erickson]], Corporate Compliance Lead, Cargill
 +
*[[Scott Gordon]], Rosenthal Collins Group, L.L.C.
 +
*[[Arthur Hahn]], Partner, Katten Muchin Rosenman LLP
 +
*[[Christopher Hehmeyer]], CEO, Hehmeyer Trading + Investments
 +
*[[Mark Ibbotson]], Group Chief Executive Officer, [[G.H. Financials]]
 +
*[[Tom Kadlec]], President, [[ADM Investor Services]]
 +
*[[Christophe Lattuada]], Societe Generale
 +
*[[Walter L. Lukken]], President and Chief Executive Officer, [[FIA]]
 +
*[[David Martin]], Executive Director, J.P. Morgan Securities
 +
*[[Jason Radzik]], Managing Director, BNP Paribas
 +
*[[Kenneth Raisler]], Partner, [[Sullivan & Cromwell LLP]]
 +
*[[Nicholas Rustad]], Global Head of Clearing, [[J.P. Morgan Securities]]
 +
*[[George Simonetti]], Managing Director, Head of Markets Clearing and Futures Execution, [[Wells Fargo Securities, LLC]]
 +
*[[Steve Sparke]], Chief Operating Officer, [[Marex Spectron]]
 +
*[[Jason Swankoski]], orth American Head of Derivative Clearing, [[Morgan Stanley]]
 +
*[[Dean Tonkin]], Managing Director, Bank of America Merrill Lynch
 +
*[[Michael Voisin]], Global Head of Capital Markets , [[Linklaters]]
 +
 
 +
'''Advisory Boards:'''
 +
 
 +
*[https://fia.org/governance-0 Americas Advisory Board]
 +
*[https://fia.org/governance-0  Asia-Pacific Advisory Board]
 +
*[https://fia.org/governance-0  Europe Advisory Board]
  
 
== Industry Events ==
 
== 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 [[FIA Futures & Options Expo|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, [[CTA]]s and [[CPO]]s, and individual investors. The first Expo, in a trial run, was held on the [[CME]] trading floor in the 1980s.  
+
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 [[FIA Futures & Options Expo|Futures & Options Expo]] showcases risk management products, trading tools, books and exchange and technology products as presented by more than 100 U.S. and international companies. 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 5,000 people from around the world 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 [http://www.futuresindustry.org/lc-2008.asp Law & Compliance Division Workshop], which hosts compliance officers, attorneys and regulators to consider issues affecting the legal and regulatory framework of the derivatives industry.
+
FIA events can also be much more in-depth and specific, such as the annual [https://lc2017.fia.org/ Law & Compliance Division Conference], which hosts compliance officers, attorneys and regulators to consider issues affecting the legal and regulatory framework of the derivatives industry.
  
 +
In 2016, FIA hosted 27 regional and division events, drawing in 9,700 industry professionals from 60 countries and 226 exhibitors.<ref name=YearInReview>{{cite web|org=FIA|name=FIA 2016 Year In Review|url=https://yir2016.fia.org/|date=August 11, 2017}}</ref>
  
 
{{#widget:Google Calendar
 
{{#widget:Google Calendar
Line 155: Line 159:
 
}}
 
}}
  
== Membership ==
+
==Office Locations==
The FIA's membership<ref name="membership">{{cite web|url=http://www.futuresindustry.org/member-firms.asp|name=FIA Member Firms|org=Futures Industry Association|date=October 15, 2007}}</ref> includes nearly 250 corporate members.  Regular members are [[Futures Commission Merchant]]s. Associate members include U.S. and international [[exchange]]s and [[clearing house|clearinghouses]], banks, legal and accounting firms, [[Introducing Broker]]s, [[Commodity Trading Advisor]]s, [[Commodity Pool Operator]]s and other market users, and information and service providers headquartered in the US and abroad.
+
[[File:FIA_offices_world_map.jpg|700px|Image: 700 pixels]]
 +
 
 +
*'''WASHINGTON, DC''', 2001 Pennsylvania Avenue NW, Suite 600, Washington, D.C. 20006
 +
*'''LONDON''', Level 28, One Canada Square, Canary Wharf, London E14 5AB
 +
*'''BRUSSELS''', Office 621, Square de Meeûs 37, 1000 Brussels
 +
*'''SINGAPORE''', Level 18 Centennial Tower, 3 Temasek Avenue, Singapore 039190
  
'''Regular members'''<ref name="membership" /> are [[futures commission merchant]]s.
+
==John Lothian News Interviews==
  
{|cellpadding=1 cellspacing=15
+
'''[http://johnlothiannews.com/walt-lukken-on-the-power-of-markets-and-the-fias-agenda/ Walt Lukken on the Power of Markets and the FIA’s Agenda]'''
|-
+
|
+
*[[ADM Investor Services]]
+
*[[Banc of America Securities LLC]]
+
*[[Barclays Capital Inc.]]
+
*[[BNP Paribas Commodity Futures, Inc.]]
+
*[[Cantor Fitzgerald]]
+
*[[Citigroup Global Markets Inc.]]
+
*[[Country Hedging, Inc.]]
+
*[[Credit Suisse Securities (USA), LLC]]
+
*[[Daiwa Securities America Inc.]]
+
*[[Deutsche Bank Securities Inc.]]
+
*[[Goldman Sachs & Co.]]
+
*[[HSBC Securities (USA) Inc.]]
+
*[[ICAP|ICAP North America Inc.]]
+
*[[Interactive Brokers LLC]]
+
*[[J.P. Morgan Futures Inc.]]
+
*[[Macquarie Futures USA Inc.]]
+
*[[McVean Trading and Investments LLC]]
+
|
+
*[[Merrill Lynch Pierce Fenner & Smith Inc.]]
+
*[[MF Global]]
+
*[[Mid-Co Commodities, Inc.]]
+
*[[Mizuho Securities USA Inc.]]
+
*[[Morgan Stanley]]
+
*[[Newedge Group]]
+
*[[Nomura Securities International, Inc.]]
+
*[[Penson GHCO]]
+
*[[Prudential Bache Commodities, LLC]]
+
*[[R.J. O'Brien & Associates, Inc.]]
+
*[[Royal Bank of Scotland Group Plc|RBS Securities Inc.]]
+
*[[State Street Global Advisors|State Street Global Markets, LLC]]
+
*[[TD Ameritrade]]
+
*[[UBS]]
+
*[[Vision Financial Markets LLC]]
+
*[[Wells Fargo Securities]]
+
|}
+
  
'''Associate members'''<ref name="membership" /> are U.S. and international exchanges and clearinghouses, banks, legal and accounting firms, [[introducing broker]]s, [[commodity trading advisor]]s, [[commodity pool operator]]s and other market users, and information and service providers headquartered in the U.S. and abroad.
+
In this video from JLN’s Industry Leader Series, FIA President and CEO Walt Lukken talks about the power of markets and the FIA’s regulatory focuses in 2019.
  
{|cellpadding=1 cellspacing=15
+
{{#ev:youtube|iQktcYdfWlE|400}}
|-
+
|
+
*[[A J Leitner and Associates, LLC]]
+
*[[Align International, LLC]]
+
*[[Allen & Overy LLP]]
+
*[[Allston Trading LLC]]
+
*[[Alston & Bird LLP]]
+
*[[Arnold & Porter LLP]]
+
*[[Arthur Bell Certified Public Accountants]]
+
*[[Association Francaise des Marches Financiers]]- AMAFI
+
*[[Australia Securities Exchange/Sydney Futures Exchange]]
+
*[[Bank of America Merrill Lynch]]
+
*[[Barbara W. Bishop]]
+
*[[Belvedere Trading]]
+
*[[BGC Partners, Inc.]]
+
*[[Blau & Bonavich]]
+
*[[Blenheim Capital Management, LLC]]
+
*[[Bloomberg Tradebook LLC]]
+
*[[BM&F Bovespa]]
+
*[[BMO Capital Markets]]
+
*[[Bombay Stock Exchange]]
+
*[[Borsa Italiana SPA]]
+
*[[Boston Options Exchange Group, LLC]]
+
*Bourse de Montreal Inc.- [[Montreal Exchange]]
+
*[[BP Corporation North America, Inc.]]
+
*[[Brown Brothers Harriman & Co.]]
+
*[[Bunge]] Chicago, Inc.
+
*[[Bursa Malaysia]]
+
*[[Cadwalader Wickersham & Taft LLP]]
+
*[[Calypso Technology]]
+
*[[Campbell & Company Inc.]]
+
*[[CBOE Futures Exchange]]
+
*[[Chicago Board Options Exchange]]
+
*[[Chicago Climate Exchange]]
+
*[[Chicago Trading Company]]
+
*[[Cinnober Financial Technology]]
+
*[[Citadel Investment Group, L.L.C.]]
+
*[[Clearing Corporation, The (CCorp.)]]
+
*[[Cleary, Gottlieb, Steen & Hamilton]]
+
*[[Clifford Chance LLP]]
+
*[[CME Group]]
+
*[[Commodity Floor Brokers and Traders Association]]
+
*[[Connamara Systems, LLC]]
+
*[[Consolidated Trading]]
+
*[[Constellation Energy]]
+
*[[CQG, Inc.]]
+
*[[Crow & Associates]]
+
*[[D.E. Shaw & Co., L.P.]]
+
*[[Dalian Commodity Exchange]]
+
*[[Davis Polk & Wardwell]]
+
*[[Dechert LLP]]
+
*[[Deloitte & Touche LLP]]
+
*[[Dennis Murray]] - Consultant
+
*[[Dewey & Leboeuf]]
+
*[[Donald Horwitz Consulting]]
+
*[[DRW Holdings, LLC]]
+
*[[Dubai Mercantile Exchange]]
+
*[[Eagle Seven LLC]]
+
*[[ELX]]
+
*[[Endeavor Trading LLC]]
+
*[[Equinix, Inc.]]
+
*[[Eris Exchange]]
+
*[[Eurex]]
+
*[[Federated Investors Inc.]]
+
*[[FFastFill|FFastFill, P.L.C.]]
+
*[[Fidessa Group]]
+
*[[Fifth Third Bank]]
+
*[[Financial Futures Association of Japan]]
+
*[[Financial Markets Consulting LLC]]
+
*[[Foley & Lardner LLP]]
+
*[[Fried Frank Harris Shriver & Jacobson LLP]]
+
*[[Fulbright & Jaworski]]
+
*[[Futures Magazine]]
+
*[[FuturesPoint, Inc.]]
+
*[[G. H. Financials Limited]]
+
*[[Gator Trading Partners]]
+
*[[Geneva Trading]]
+
*[[GETCO]]
+
*[[GFI Group]]]
+
*[[Global Risk Corp.]]
+
*[[Grant Thornton LLP]]
+
*[[Gresham Capital Management]]
+
*[[Hard Eight Futures]]
+
*[[Harris N.A.]]
+
*[[Hong Kong Exchanges and Clearing Limited (HKEx)]]
+
*[[Hunt Consulting]]
+
*[[ICE Clear US, Inc.]]
+
*[[ICE Futures Canada, Inc.]]
+
*[[ICE Futures Europe]]
+
*[[ICE Future US]]
+
*[[IMC Chicago]]
+
*[[Infinium Capital Management]]
+
*[[Intellectual Property Exchange International]]
+
*[[Interactive Data 7ticks]]
+
*[[InterContinentalExchange, Inc.]]
+
*[[Intermarket Communications]]
+
*[[International Derivatives Clearing Group]]
+
*[[International Securities Exchange]]
+
*[[ION Trading]]
+
*[[Japan Commodity Futures Association]]
+
*[[Japan Federation of Commodity Exchanges Inc.]]
+
*[[John J. Lothian & Company, Inc.]]
+
*[[John W. Henry & Company, Inc.]]
+
*[[Jordan & Jordan]]
+
*[[JSE Securities Exchange]]
+
*[[K&L Gates LLP]]
+
*[[Kansas City Board of Trade]]
+
*[[Katten Muchin Rosenman LLP]]
+
*[[Ketchum trading]]
+
|
+
*[[Knight Capital]]
+
*[[Koch Industries, Inc.]]
+
*[[Korea Exchange]]
+
*[[Korea Financial Investment Association]]
+
*[[Lawrence, Kamin, Saunders & Uhlenhop, L.L.C.]]
+
*[[LCH.Clearnet Limited]]
+
*[[Liquidity Port LLC]]
+
*[[Mako Group]]
+
*[[Managed Funds Association]]
+
*[[Marex Financial Limited]]
+
*[[MarketAxess]]
+
*[[Marquette Partners]]
+
*[[McDermott Will & Emery LLP]]
+
*[[McGladrey & Pullen LLP]]
+
*[[MEFF]]
+
*[[Menaker & Herrmann LLP]]
+
*[[Mercado a Termino de Buenos Aires]] (MATba)
+
*[[Mercado Mexicano de Derivados]] ([[MexDer]])
+
*[[Millburn Ridgefield Corporation]]
+
*[[Minneapolis Grain Exchange]]
+
*[[Morgan, Lewis & Bockus LLP]]
+
*[[Moscow Interbank Currency Exchange]]
+
*[[Multi Commodity Exchange of India Ltd.]]
+
*[[NASDAQ OMX]]
+
*[[NASDAQ OMX Futures Exchange]] (formerly [[Philadelphia Board of Trade]])
+
*[[Nathan Law Office]]
+
*[[National Cattlemen's Beef Association]] (NCBA)
+
*[[National Commodity & Derivatives Exchange Limited]] (NCDEX)
+
*[[National Corn Growers Association]]
+
*[[National Economic Research Associates]] (NERA)
+
*[[National Futures Protection Fund]]
+
*[[National Stock Exchange of India Limited]]
+
*[[New York Mercantile Exchange]] (NYMEX)
+
*[[New York Portfolio Clearing]]
+
*[[Nico Holdings]]
+
*[[Nodal Exchange]]
+
*[[North American Derivatives Exchange (NADEX)]]
+
*[[Northern Trust Company]]
+
*[[NYSE Euronext]]
+
*[[NYSE Liffe]]
+
*[[Object Trading Pty]]
+
*[[Omgeo]]
+
*[[OneChicago, LLC]]
+
*[[OptionsCity Software]]
+
*[[Options Clearing Corporation]]
+
*[[Optiver US LLC]]
+
*[[Orc Software Inc.]]
+
*[[Patsystems]]
+
*[[Positive Equity Ltd.]]
+
*[[PricewaterhouseCoopers LLP]]
+
*[[Promontory Financial Group, LLC]]
+
*[[Proskauer Rose LLP]]
+
*[[Proxima Clearing]]
+
*[[RGM Advisors]]
+
*[[Rosario Futures Exchange (ROFEX)]]
+
*[[Ronald H. Filler & Associates, LLC]]
+
*[[RTS Realtime Systems]]
+
*[[Russell Investment Group]]
+
*[[Russian Trading System Stock Exchange]]
+
*[[Schiff Hardin LLP]]
+
*[[Shanghai Futures Exchange]]
+
*[[Shearman & Sterling LLP]]
+
*[[SG Americas]]
+
*[[Sidley Austin LLP]]
+
*[[Singapore Exchange]] Ltd.
+
*[[Singapore Mercantile Exchange]]
+
*[[Skadden, Arps, Slate, Meagher & Flom LLP]]
+
*[[SNR Denton]]
+
*[[Spot Trading]]
+
*[[SSARIS Advisors LLC]]
+
*[[Standard & Poor's]]
+
*[[Stikeman Elliott LLP]]
+
*[[Stroock & Stroock & Lavan LLP]]
+
*[[Sullivan & Cromwell LLP]]
+
*[[Sun Trading LLC]]
+
*[[SunGard]]
+
*[[Sutherland]]
+
*[[Swiss Futures and Options Association]]
+
*[[Taiwan Futures Exchange]]
+
*[[Teigland-Hunt & Associates]]
+
*[[Tellefsen and Company, L.L.C.]]
+
*[[Term Commodities Inc.]]
+
*[[Thailand Futures Exchange]]
+
*[[The LaSalle Technology Group LLC]]
+
*[[Tiberius Asset Management AG]]
+
*[[Tokyo Commodity Exchange]]
+
*[[Tokyo Financial Exchange Inc.]]
+
*[[Tokyo Grain Exchange]]
+
*[[Tokyo Stock Exchange, Inc.]]
+
*[[TradeForecaster Global Markets LLC]]
+
*[[TradeHelm, Inc.]]
+
*[[Trading Technologies]]
+
*[[TradingScreen Inc.]]
+
*[[Traditum Group LLC]]
+
*[[Traiana Inc.]]
+
*[[Tudor Investment Corporation]]
+
*[[Turkish Derivatives Exchange (TURKDEX)]]
+
*[[WH Trading]]
+
*[[West Monroe Partners]]
+
*[[Willkie Farr & Gallagher LLP]]
+
*[[WilmerHale]]
+
*[[Winston & Strawn LLP]]
+
*[[WTD Consulting, Inc.]]
+
*[[X-Change Financial Access, LLC]]
+
*[[XR Trading]]
+
*[[YJT Solutions, LLC]]
+
|}
+
  
 
==References==
 
==References==
Line 424: Line 179:
  
 
== External links ==
 
== External links ==
*[http://www.foa.co.uk/index.jsp/ Futures and Options Association]
+
*[https://fia.org/ FIA]
  
 
[[Category:Industry Associations]]
 
[[Category:Industry Associations]]

Latest revision as of 12:58, 11 June 2019

IDX2019-728x90px.png

Futures Industry Association
FIALogoNew.jpg
Founded 1955
Headquarters 2001 Pennsylvania Avenue NW, Suite 600, Washington, D.C. 20006

Image: 180 pixels

Products Advocacy association for futures (and options) industry, reports, publications, conferences
Key People Walt Lukken, President and CEO
Twitter @FIAconnect
youtube FuturesIndustry
facebook FIAConnect
LinkedIn Profile
Web site www.fia.org

The Futures Industry Association (FIA) 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.

FIA's primary members are futures commission merchants, while derivatives exchanges, individuals and other affiliated organizations are classified as associate members. All told, the FIA represents more than 360 firms and 28,000 individuals.

The global management team includes regional representatives. Walt Lukken serves as global president and CEO of the organization. Bruce Savage will serve as head of Europe beginning in August 2019 and Bill Herder is head of Asia. Functional heads lead the advocacy, legal, operations and finance teams.

Affiliates of FIA are FIA European Principal Traders Association (FIA EPTA), FIA Japan, FIA Principal Traders Group (FIA PTG), FIA Technology Services (FIA Tech) and the Institute for Financial Markets (IFM).[1]

FIA has been a Contributor-level sponsor of MarketsWiki since 2008.

History

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 U.S. 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 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] - FIA has expanded its global reach, creating FIA Asia in 2006 and increasing co-operation with the European-focused Futures and Options Association.[4] FIA's Futures Hall of Fame, established in 2005, annually recognizes those who have made a mark on the industry.

In January 2010, the FIA formed the FIA Principal Traders Group to represent proprietary trading groups. That move was followed by the formation of the FIA European Principal Traders Association in June 2011. Both are regionally focused non-profits created to provide a forum for firms that trade their own capital to identify and discuss issues confronting their trading community. The groups work to define common positions on public policy issues, improve the public’s understanding of the constructive role played by principal trading groups in the exchange-traded markets and promote cost-effective, equal and transparent access to markets.[5]

Continuing with the organization's increasingly global focus, in June of 2013, the FIA announced an agreement with the Futures and Options Association to form an affiliation of the two organizations under a new structure called FIA Global. This new structure is intended to enable the two associations to strengthen their influence on cross-border issues, increase coordination between regions, and express the views of FOA and FIA members.[6]

On August 27, 2015, the boards of FIA, FIA Europe and FIA Asia announced they agreed to formally merge the three associations in the first quarter of 2016, further strengthening its global footprint.[7]

The merger of FIA, FIA Europe and FIA Asia into a single organization took effect on January 8, 2016.[8]

Industry Advocacy

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.

For example, in 2016 FIA filed more than 70 comment letters with regulators around the globe, focusing on such issues as clearing equivalence, MiFID II implementation and capital requirements proposed by the Basel Committee.[9]

Affiliates

Affiliates of FIA are FIA European Principal Traders Association (FIA EPTA), FIA Japan, FIA Principal Traders Group (FIA PTG), FIA Technology Services (FIA Tech) and the Institute for Financial Markets (IFM).[10]

FIA Tech is FIA's for-profit software subsidiary which operates four systems: the Electronic Give-Up System (EGUS), Project Atlantis, the Reconcilition Software (eRECS) and OCR Data Service. [11]

FIA Japan was formed as a chapter of FIA before FIA became FIA Global. It acts as the Japanese liaison with FIA's Washington headquarters and many of FIA Japan's members are members of FIA.[12]

The IFM is an independent, non-profit affiliate of the Futures Industry Association (FIA)focused on education.

FIA EPTA and FTA PTG are similar advocacy organizations representing proprietary traders. FIA PTG was founded in 2010 has 23 member firms in the Americas.[13][14] FIA EPTA was founded in 2011 and has 28 member firms in Europe.[15]

Membership

FIA's membership[16] includes more than 350 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.

Primary members[16] are only clearing members holding customer funds.

Associate members[16] 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.

A full list of primary and associate members can be found here.

Data and Publications

MarketVoice is published bimonthly, except July and August, by 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.[17]

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. In 2016, FIA debuted its SEF Tracker, an interactive data portal for market participants to look at volume and market share trends in interest rate, FX and credit products traded via SEFs. [9]

FIA also offers educational books and courses, ethics and anti-money training, and historical and static industry data through its affiliated nonprofit foundation, the Institute for Financial Markets or IFM.

Leadership


London Office, Singapore Office, Washington, DC Office


Board of Directors

Officers:

Board Members:

Advisory Boards:

Industry Events

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 U.S. and international companies. 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 5,000 people from around the world 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 Conference, which hosts compliance officers, attorneys and regulators to consider issues affecting the legal and regulatory framework of the derivatives industry.

In 2016, FIA hosted 27 regional and division events, drawing in 9,700 industry professionals from 60 countries and 226 exhibitors.[9]

Office Locations

Image: 700 pixels

  • WASHINGTON, DC, 2001 Pennsylvania Avenue NW, Suite 600, Washington, D.C. 20006
  • LONDON, Level 28, One Canada Square, Canary Wharf, London E14 5AB
  • BRUSSELS, Office 621, Square de Meeûs 37, 1000 Brussels
  • SINGAPORE, Level 18 Centennial Tower, 3 Temasek Avenue, Singapore 039190

John Lothian News Interviews

Walt Lukken on the Power of Markets and the FIA’s Agenda

In this video from JLN’s Industry Leader Series, FIA President and CEO Walt Lukken talks about the power of markets and the FIA’s regulatory focuses in 2019.

References

  1. FIA Affiliates. FIA.
  2. Futures industry in USA and the role Chicago plays- Jerry Cedicci-Robin Trehan. PRLog.
  3. Press Release. FIA.
  4. Press Release. FOA.
  5. Press Release. FIA.
  6. FIA press release. Futures Magazine.
  7. FIA, FIA Europe and FIA Asia Announce Merger Plans. FIA.
  8. FIA Kicks Off New Year as Single, Global Organization. FIA.
  9. 9.0 9.1 9.2 FIA 2016 Year In Review. FIA.
  10. FIA Affiliates. FIA.
  11. FIA Tech. FIA.
  12. FIA Japan. FIA Japan.
  13. FIA PTG. FIA PTG.
  14. FIA PTG Annual Reports. FIA PTG Annual Reports.
  15. FIA EPTA. FIA EPTA.
  16. 16.0 16.1 16.2 FIA Member Firms. Futures Industry Association.
  17. Home page. Futures Industry Magazine.

External links