Futures Industry Association (FIA) definition


What is the Futures Industry Association (FIA)?

The Futures Industry Association (FIA) is an international association of futures commission traders, brokers, banks and commercial advisers operating in the futures markets of the United States, Europe and Asia.

The FIA ​​provides information and education on the markets and futures trading. It also represents the interest of its members by lobbying regulators and exchanges.

Key takeaways

  • The Futures Industry Association (FIA) is a global industry organization for the futures, options and listed derivatives markets.
  • With offices located in global financial centers, the FIA’s membership includes clearing firms, exchanges, clearing houses, trading firms and commodity specialists from 50 countries; as well as technology providers, law firms, and other professional service providers.
  • The mission of the FIA ​​is to support open, transparent and competitive markets, protect and enhance the integrity of the financial system, and promote high standards of professional conduct.

History of the Futures Industry Association

The FIA ​​was established in 1955 in New York as the Association of Commodity Exchange Companies. Changed its name to Futures Industry Association in 1978 and moved to Washington, DC, which is still the site of its current headquarters. It began accepting foreign organizations in the mid-1980s.

A European outpost (FIA Europe) was founded in 1993 and an Asian office (FIA Asia) in 2012. The two merged with the original American organization in 2016.

Currently, the FIA ​​represents futures trading and clearing companies, commodity specialists, suppliers and other industry-related professionals in some 50 nations with more than 350 companies. It maintains offices in Brussels, London, Singapore and Washington, DC

The Mission of the Futures Industry Association

The FIA ​​was founded to serve as a forum for ideas and discussions on the futures industry. Since its inception, the FIA ​​has promoted fair trade, worked with exchanges, educated consumers and customers, studied ways to reduce costs, prevented abuse of current market rules, and protected members against fraud.

The association expresses its mission as:

  • Support open, transparent and competitive markets.
  • Protect and improve the integrity of the financial system.
  • Promote high standards of professional conduct.

You regularly publish technical papers and send letters and position papers to government agencies, regulatory authorities, and politicians on topics of interest to your industry.

Walt Lukken is the current President and CEO of the FIA ​​(as of April 2021). Prior to joining the FIA ​​in 2012, Mr. Lukken was CEO of New York Portfolio Clearing, a capital-efficient derivatives clearinghouse jointly owned by NYSE Euronext and Depository Trust and Clearing Corp (DTCC).

To promote competition, the FIA ​​has lobbied governments and regulators against taxes on futures contracts and futures market mergers.

Futures Industry Association Publications and Events

Like other trade groups, the Futures Industry Association offers online training and education for its members. That hosts a variety of meetings and events, including the Annual International Futures Industry Conference in Boca Raton, Florida, where it announces new members to its Futures Hall of Fame.

The FIA ​​also publishes industry-related research and opinion pieces along with advocacy, legal and operational work for regulators and exchanges around the world. Also included are practical pieces intended for education and training derived.

www.investopedia.com

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