Difference between revisions of "Futures Industry Association"

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{{Infobox_Org
 
{{Infobox_Org
 
| org_name = Futures Industry Association
 
| org_name = Futures Industry Association
| org_logo = [[Image:FIA_logo.gif]]
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| org_logo = [[Image:FIALogoNew.jpg{{!}}150px]]
 
| foundation = 1955
 
| foundation = 1955
| location = Washington D.C.
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| location = 2001 Pennsylvania Avenue NW, Suite 600, Washington, D.C. 20006
| products = Advocacy, Volume and Open Interest Reports, Publications, Conferences
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[[Image:Map_Of_FIA_Washington_Headquarters.jpg|180px|Image: 180 pixels]]
| homepage= [http://www.futuresindustry.org/ www.futuresindustry.org]}}
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| keypeople = [[Walt Lukken]], President and CEO
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| products =   Advocacy association for futures (and options) industry, reports, publications, conferences
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| facebook =  FIAConnect
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| twitter =  FIAconnect
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| linkedin = futures-industry-association
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| youtube = FuturesIndustry
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| homepage= [https://fia.org/ www.fia.org]}}
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<div class="item">[http://www.marketsreformwiki.com/mktreformwiki/index.php/FCM Futures Commission Merchant Regulation]</div>
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<div class="item">[http://www.marketsreformwiki.com/mktreformwiki/index.php/Category:FIA_Comment_Letters FIA Comment Letters]</div>
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<div class="item">[http://www.marketsreformwiki.com/mktreformwiki/index.php/Position_Limits_Regulation Position Limits]</div>
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<div class="item">[http://www.marketsreformwiki.com/mktreformwiki/index.php/High_Frequency_Trading_Regulation High Frequency Trading Regulation]</div>
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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. It is the leading global trade organization for the futures, options and centrally cleared derivatives markets, with offices in Brussels, London, Singapore and Washington, D.C.
  
'''The Futures Industry Association''' is an industry advocacy and education organization that provides a variety of products and support for its member organizations and for the futures (and options) industry as a whole.  Regular members of the FIA are [[Futures Commission Merchant]]s[[Futures exchanges]] and other organizations and individuals are Associate Members.
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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 estimates that [[FCM]] regular members are responsible for more than 80 percent of the customer business transacted on U.S. futures exchanges.  Included in these FCM members are global brokerage firms, investment banks and specialty futures
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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.
firms. <ref name="FIA Website">{{cite web | url=http://www.futuresindustry.org| name="FIA site| org=Futures Industry Association| date=Nov. 4, 2007}}</ref>
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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>
  
== FIA Leadership ==
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FIA has been a [[Sponsor Page|Contributor-level sponsor]] of [[MarketsWiki]] since 2008.
  
'''Among key staff at FIA''':
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== History ==
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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>
  
*[[John M. Damgard]], president
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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.
*[[Barbara Wierzynski]], EVP & general counsel
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*Mary Ann Burns, EVP, Industry Relations
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*Jeffrey D. Morgan, chief operating officer
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'''Phone''': 202.466.5460
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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>
  
'''FIA Board Leadership'''
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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>
  
*[[Richard Berliand]], FIA chairman; managing director, JP Morgan Securities Ltd.
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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>
*[[Kenneth M. Ford]], FIA vice chairman; managing director, Credit Suisse
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*[[Ira Polk]], FIA treasurer/secretary; chief administrative officer, MF Global
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== FIA History ==
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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>
  
Founded in 1955 in New York, the organization was originally known as the Association of Commodity Exchange Firms.  It was established to provide a forum to discuss issues, study ways to increase the operating efficiency of the futures industry, and provide an educational and informational interface with the public.
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== Industry Advocacy ==
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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 1973, the FIA expanded to include Chicago [[FCM]]s.  The organization changed its name to the Futures Industry Association and moved to Washington D.C. in 1978, acknowledging that the futures industry has a national scope and participation.
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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 shift to the global perspective on the industry occurred in the mid-1980s, when international firms were invited to become members.<br><br>
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==Affiliates==
  
{{Infobox Midpage Sponsor | caption_info=International Securities Exchange| sponsor_logo=ISE_logo2.jpg}}
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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>
  
== Current Membership ==
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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>
  
The FIA's current 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 U.S. and abroad.
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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>  
<BR>
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<br>
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== Products and Services ==
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The IFM is an independent, non-profit affiliate of the Futures Industry Association (FIA)focused on education.
  
=== Industry Advocacy ===
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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>
  
The FIA serves as a liaison between the industry and Congress, the [[Commodity Futures Trading Commission]] 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.
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== Membership ==
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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.
  
=== Volume and Open Interest Reports ===
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'''Primary members'''<ref name="membership" /> are only clearing members holding customer funds.
  
The FIA collects and compiles daily [[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.
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'''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.  
  
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.
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A full list of primary and associate members can be found [https://fia.org/node/1788/ here.]
  
=== Conferences ===
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== Data and Publications ==
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[[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 hosts a number of annual and single-session events and conferences in cities around the world.
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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.
  
Events can have a broad industry focus, for example, the annual [http://www.futuresindustry.org/expo-2007.asp 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.  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.  
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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 />
  
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 brings together compliance officers, attorneys, and regulators to consider issues affecting the legal and regulatory framework of the derivatives industry.
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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.
  
=== Industry Magazine ===
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== Leadership ==
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<gallery>
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File:WaltLukken2013.jpg|[[Walt Lukken]], President and CEO
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File:WillAcworth.jpg|[[Will Acworth]], Senior Vice President of Publications, Data & Research
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File:Emma Davey-1- (2).JPG|[[Emma Davey]], Chief Commercial Officer
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File:Bill Herder.jpg|[[Bill Herder]], Head of Asia-Pacific
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File:CharlieJones.jpg|[[Charlie Jones]], Senior Vice President of Global Brand Management
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File:Allison Lurton.jpg|[[Allison Lurton]], Senior Vice President & General Counsel
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File:JacquelineMesa.jpg|[[Jacqueline Mesa]], Chief Operating Officer
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File:GuySheetz.jpg|[[Guy Sheetz]], Senior Vice President & Chief Financial Officer
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File:Download.jpg|[[Bruce Savage]], Head of Europe
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</gallery>
  
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. [http://www.futuresindustry.org/fi-magazine-home.asp]
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[https://fia.org/staff London Office, Singapore Office, Washington, DC Office]
  
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=== Board of Directors ===
  
== NFA Members (as of Nov. 1, 2007)==
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'''Officers:'''<br>
  
'''Regular members'''<ref name="membership">{{cite web | url=http://www.futuresindustry.org/member-firms.asp | name="FIA Member Firms| org=Futures Industry Association| date=Nov. 4, 2007}}</ref> are [[futures commission merchant]]s.  
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*[[Jerome Kemp]], Global Head of Futures and OTC Clearing, [[Citigroup Global Markets]];  Chairman
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*[[Nicholas Rustad]], J.P. Morgan Securities, Vice Chairman
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*[[Clark Hutchison]], Managing Director, [[Deutsche Bank]]; Treasurer
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*[[Najib Lamhaouar]], [[HSBC Bank plc]]; Secretary
  
*A.G. Edwards & Sons, Inc.
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'''Board Members:'''<br>
*ADM Investor Services
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*[[Eric Aldous]], Managing Director, RBC Capital Markets
*Banc of America Securities LLC
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*[[Clive Christison]], Chief Executive Officer, Global Oil – Americas, BP Products North America Inc.
*Barclays Capital Inc.
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*[[Gerald Corcoran]], Chairman and CEO, R.J. O'Brien & Associates LLC
*Bear, Stearns & Co. Inc.
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*[[Robert Creamer]], President, Geneva Trading
*BNP Paribas Commodity Futures, Inc.
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*[[Alicia Crighton]], Goldman, Sachs & Co. LLC
*Calyon Financial Inc.  
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*[[John Dabbs]], Global Head of Prime Derivative Services, Credit Suisse Securities
*Cantor Fitzgerald
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*[[Michael C. Dawley]], Bluefin Partners, LLC
*Citigroup Global Markets Inc.
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*[[Jan Bart de Boer]], Chief Commercial Officer, ABN AMRO Clearing
*Country Hedging, Inc.
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*[[Thomas Erickson]], Corporate Compliance Lead, Cargill
*Credit Suisse Securities (USA), LLC
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*[[Scott Gordon]], Rosenthal Collins Group, L.L.C.
*Daiwa Securities America Inc.
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*[[Arthur Hahn]], Partner, Katten Muchin Rosenman LLP
*Deutsche Bank Securities Inc.
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*[[Christopher Hehmeyer]], CEO, Hehmeyer Trading + Investments
*Fimat USA, LLC
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*[[Mark Ibbotson]], Group Chief Executive Officer, [[G.H. Financials]]
*Goldman, Sachs & Co.
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*[[Tom Kadlec]], President, [[ADM Investor Services]]
*Greenwich Capital Markets, Inc.
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*[[Christophe Lattuada]], Societe Generale
*HSBC Securities (USA) Inc.
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*[[Walter L. Lukken]], President and Chief Executive Officer, [[FIA]]
*Interactive Brokers LLC
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*[[David Martin]], Executive Director, J.P. Morgan Securities
*J.P. Morgan Futures Inc.
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*[[Jason Radzik]], Managing Director, BNP Paribas
*Lehman Brothers Inc.
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*[[Kenneth Raisler]], Partner, [[Sullivan & Cromwell LLP]]
*Macquarie Futures USA Inc.
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*[[Nicholas Rustad]], Global Head of Clearing, [[J.P. Morgan Securities]]
*McVean Trading and Investments LLC
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*[[George Simonetti]], Managing Director, Head of Markets Clearing and Futures Execution, [[Wells Fargo Securities, LLC]]
*Merrill Lynch Pierce Fenner & Smith Inc.
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*[[Steve Sparke]], Chief Operating Officer, [[Marex Spectron]]
*MF Global
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*[[Jason Swankoski]], orth American Head of Derivative Clearing, [[Morgan Stanley]]
*Mid-Co Commodities, Inc.
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*[[Dean Tonkin]], Managing Director, Bank of America Merrill Lynch
*Mizuho Securities USA Inc.
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*[[Michael Voisin]], Global Head of Capital Markets , [[Linklaters]]
*Morgan Stanley
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*Nomura Securities International, Inc.
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*Penson GHCO
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*PFGBEST.com
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*Prudential Bache Commodities, LLC
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*R.J. O'Brien & Associates, Inc.
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*UBS
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*Vision Financial Markets LLC
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'''Associate members'''<ref name="membership">{{cite web | url=http://www.futuresindustry.org/member-firms.asp | name="FIA Member Firms| org=Futures Industry Association| date=Nov. 4, 2007}}</ref>  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.
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'''Advisory Boards:'''
  
*7Ticks IT Consulting
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*[https://fia.org/governance-0 Americas Advisory Board]
*A J Leitner and Associates, LLC
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*[https://fia.org/governance-0  Asia-Pacific Advisory Board]
*AIG Clearing Corporation
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*[https://fia.org/governance-0  Europe Advisory Board]
*Alan L. Seifert - Derivatives Regulatory Consultant
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*Allen & Overy LLP
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*Alston & Bird LLP
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*Arnold & Porter LLP
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*Arthur Bell Certified Public Accountants
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*AtosEuronext Market Solutions Limited
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*Bank of New York
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*Blau & Bonavich
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*Bolsa de Mercadorias & Futuros (BM&F)
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*Borsa Italiana SPA
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*Bourse de Montreal Inc.
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*BP Corporation North America, Inc.
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*Brown Brothers Harriman & Co.
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*BT Global Financial Services
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*Bursa Malaysia
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*Cadwalader Wickersham & Taft LLP
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*Campbell & Company Inc.
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*Capital Futures Corp.
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*Capital Markets Consulting LLC
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*Caxton Associates, L.L.C.
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*CBOE Futures Exchange, LLC
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*Central Japan Commodity Exchange (CCOM)
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*Chicago Board Options Exchange
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*Chicago Climate Exchange
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*Citadel Investment Group, L.L.C.
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*Clearing Corporation, The (CCorp.)
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*Cleary, Gottlieb, Steen & Hamilton
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*Clifford Chance LLP
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*CME Group (formerly CME and CBOT)
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*COMEX Division of the New York Mercantile Exchange Inc.
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*Commodity Floor Brokers and Traders Association
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*Connamara Systems, LLC
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*CQG, Inc.
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*Crow & Associates
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*Dalian Commodity Exchange
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*Davis Polk & Wardwell
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*Dechert LLP
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*Deloitte & Touche LLP
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*Dennis Murray - Consultant
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*Denton Wilde Sapte
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*Deutsche Boerse Systems AG
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*Dolphin Capital Management Inc.
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*DPM Mellon
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*DRW Holdings, LLC
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*DTN
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*Equinix, Inc.
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*eSpeed, Inc.
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*Eurex/Deutsche Boerse
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*Euronext
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*Euronext.liffe
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*Exchange Systems Technology LTD
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*Federated Investors Inc.
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*FfastFill, P.L.C.
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*Fidessa Group
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*Financial Futures Association of Japan
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*Foley & Lardner LLP
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*Fried Frank Harris Shriver & Jacobson LLP
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*Futures Magazine
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*FuturesPoint, Inc.
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*Geneva Trading
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*GL Trade Ltd
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*GlobeOp Financial Services LLC
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*Goldstein Golub Kessler LLP
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*Grant Thornton LLP
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*Harris N.A.
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*HedgeStreet, Inc.
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*Heller Ehrman LLP
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*Hong Kong Exchanges and Clearing Limited (HKEx)
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*ICE Clear US, Inc.
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*IntercontinentalExchange, Inc. (ICE)
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*Intermarket Communications
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*Janice C. Abrahamson - Futures Consultant
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*Japan Commodity Futures Industry Association
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*Japan Federation of Commodity Exchanges Inc.
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*John W. Henry & Company, Inc.
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*Jordan & Jordan
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*JPMorgan Chase & Co.
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*JSE Securities Exchange
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*JWM Partners, LLC
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*Kanetsu Shoji Co., Ltd.
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*Kansas City Board of Trade
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*Katten Muchin Rosenman LLP
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*Kirkland & Ellis LLP
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*Kirkpatrick & Lockhart Preston Gates Ellis LLP
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*Koch Industries, Inc.
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*Korea Exchange
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*Korea Futures Association
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*Lawrence, Kamin, Saunders & Uhlenhop, L.L.C.
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*LCH.Clearnet Limited
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*Levenfeld Pearlstein, LLC
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*London Metal Exchange Limited
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*Managed Funds Association (MFA)
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*Marex Financial Limited
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*Mayer, Brown, Rowe & Maw LLP
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*McDermott Will & Emery LLP
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*MEFF
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*Mercado a Termino de Buenos Aires (MATba)
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*Mercado a Termino de Rosario SA (ROFEX)
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*Mercado Mexicano de Derivados (MexDer)
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*Merrill Lynch Commodities, Inc.
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*Micro Design Services, LLC
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*Millburn Ridgefield Corporation
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*Minneapolis Grain Exchange
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*Multi Commodity Exchange of India Ltd.
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*Nathan Law Office
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*National Cattlemen's Beef Association (NCBA)
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*National Commodity & Derivatives Exchange Limited (NCDEX)
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*National Corn Growers Association
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*National Economic Research Associates (NERA)
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*National Stock Exchange of India Limited
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*New York Board of Trade
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*New York Mercantile Exchange
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*Nihon Unicom Corporation
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*Northern Trust Company
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*Okato Shoji Co., Ltd.
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*OMX Technology
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*OneChicago, LLC
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*Options Clearing Corporation
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*Optiver US LLC
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*Orc Software Inc.
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*Patsystems
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*Philadelphia Board of Trade
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*PricewaterhouseCoopers LLP
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*Promontory Financial Group, LLC
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*RBS Greenwich Futures Ltd.
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*Rolfe & Nolan Systems Inc.
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*RSM McGladrey, Inc.
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*RTS Realtime Systems
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*Russell Investment Group
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*Schiff Hardin LLP
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*SDS Financial Technologies, Inc.
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*Sentinel Management Group, Inc.
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*Shanghai Futures Exchange
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*Shearman & Sterling LLP
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*Sidley Austin LLP
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*Simpson Thacher & Bartlett LLP
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*Singapore Exchange Ltd.
+
*Skadden, Arps, Slate, Meagher & Flom LLP
+
*Southfield Corporation
+
*SSARIS Advisors LLC
+
*Standard & Poor's
+
*Strategics, Inc.
+
*Stroock & Stroock & Lavan LLP
+
*Stumpp & Bond, LLP
+
*Sullivan & Cromwell LLP
+
*SunGard Futures Systems
+
*Superfund Asset Management, Inc.
+
*Sutherland Asbill & Brennan LLP
+
*Swiss Futures and Options Association
+
*Sydney Futures Exchange Limited
+
*Taiwan Futures Exchange
+
*Teigland-Hunt & Associates
+
*Tellefsen and Company, L.L.C.
+
*Term Commodities Inc.
+
*Thailand Futures Exchange
+
*The French Association of Investment Firms - A.F.E.I.
+
*The Global Capital Group Ltd.
+
*Thelen Reid Brown Raysman & Steiner LLP
+
*Tokyo Commodity Exchange
+
*Tokyo Financial Exchange Inc.
+
*Tokyo Grain Exchange
+
*Tokyo Stock Exchange, Inc.
+
*Trading Technologies
+
*TradingScreen Inc.
+
*Tudor Investment Corporation
+
*U.S. Futures Exchange
+
*Wachovia Bank, NA
+
*Willkie Farr & Gallagher LLP
+
*WilmerHale
+
*Winnipeg Commodity Exchange Inc.
+
*Winston & Strawn LLP
+
*WTD Consulting, Inc.
+
*YJT Solutions, LLC
+
  
 +
== 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 [[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 [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.
  
==References==
+
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>
<references />
+
  
<div class="references-small">
+
{{#widget:Google Calendar
 +
|id=u7cgmo9u68ji6mkkb6s0m4k2u8@group.calendar.google.com
 +
|color=22AA99
 +
|showtitle=true
 +
|width=645
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|height=460
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|timezone=America/Chicago
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}}
  
</div>
+
==Office Locations==
 +
[[File:FIA_offices_world_map.jpg|700px|Image: 700 pixels]]
  
== External links ==
+
*'''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
  
*[http://www.futuresindustry.org/ www.futuresindustry.org]
+
==John Lothian News Interviews==
 +
 
 +
'''[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]'''
 +
 
 +
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.
 +
 
 +
{{#ev:youtube|iQktcYdfWlE|400}}
 +
 
 +
==References==
 +
<references />
 +
 
 +
== External links ==
 +
*[https://fia.org/ FIA]
  
 
[[Category:Industry Associations]]
 
[[Category:Industry Associations]]
 +
[[Category:MarketsWiki Sponsors]]
 +
[[Category:Futures Industry Association]]
 +
[[Category:MarketsWiki Page of the Day]]

Latest revision as of 12:47, 10 September 2019

FIA 546 2019 Expo Digital Ads-Final.jpg

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. It is the leading global trade organization for the futures, options and centrally cleared derivatives markets, with offices in Brussels, London, Singapore and Washington, D.C.

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