Futures Industry Association
|Futures Industry Association|
|Products||Advocacy, Volume and Open Interest Reports, Publications, Conferences|
The Futures Industry Association is an industry lobbying and education organization that provides a variety of products and support for its member organizations and for the futures industry as a whole. Regular members of the FIA are futures commission merchants. Futures exchanges and other organizations and individuals are Associate Members.
The FIA estimates that FCM 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 firms.
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.
In 1973, the FIA expanded to include Chicago FCMs. 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.
The shift to the global perspective on the industry occurred in the mid-1980s, when international firms were invited to become members.
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The FIA's current membership includes nearly 250 corporate members. Regular members are Futures Commission Merchants. Associate members include U.S. and international exchanges and clearinghouses, banks, legal and accounting firms, Introducing Brokers, Commodity Trading Advisors, Commodity Pool Operators and other market users, and information and service providers headquartered in the U.S. and abroad.
Products and Services
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.
Volume and Open Interest Reports
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.
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.
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 in the annual Futures & Options Expo which 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 expert 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.
Events can also be much more in-depth and specific, such as the annual 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.
- "FIA Member Firms. Futures Industry Association.