Futures Industry Association (FIA)
What Is the Futures Industry Association (FIA)?
The Futures Industry Association (FIA) is an international association of futures commission shippers, brokers, banks, and trading advisers operating in the United States, European, and Asian futures markets.
The FIA gives data and education on futures markets and trading. It likewise addresses the interest of its individuals by campaigning regulatory bodies and exchanges.
History of the Futures Industry Association
The FIA was laid out in 1955 in New York as the Association of Commodity Exchange Firms. It changed its name to the Futures Industry Association in 1978 and moved to Washington, D.C., which stays the site of its current headquarters. It started accepting overseas organizations during the 1980s.
An European station (FIA Europe) was established in 1993 and an Asian office (FIA Asia) in 2012. The two merged with the original U.S. organization in 2016.
FIA currently addresses futures clearing and trading firms, commodities subject matter experts, sellers, and other industry-related professionals in nearly 50 nations with in excess of 350 companies. It keeps up with offices in Brussels, London, Singapore, and Washington, D.C.
The Mission of the Futures Industry Association
The FIA was established to act as a forum for thoughts and discussion encompassing the futures industry. Since its beginning, the FIA has advanced fair trade, worked with exchanges, taught consumers and customers, concentrated on ways of lessening costs, forestalled abuse of current market rules, and protected individuals against fraud.
The association states its mission as:
- Supporting open, straightforward, and competitive markets.
- Protecting and improving the integrity of the financial system.
- Advancing high standards of professional conduct.
It consistently distributes white papers and sends letters and position papers to government agencies, regulatory specialists, and lawmakers on issues of interest to its industry.
Walt Lukken is the FIA's current President and CEO (as of August 2021). Before joining FIA in 2012, Mr. Lukken was CEO of New York Portfolio Clearing, a capital-productive derivatives clearinghouse jointly owned by NYSE Euronext and the Depository Trust and Clearing Corp (DTCC).
To advance competition, the FIA has campaigned governments and regulators against taxation on futures contracts and the mergers of futures markets.
Futures Industry Association Publications and Events
Like other trade groups, the Futures Industry Association offers online training and education for individuals. It has different get-togethers and occasions, remembering the Annual International Futures Industry Conference for Boca Raton, Fla., where it declares new inductees into its Futures Hall of Fame.
FIA likewise distributes industry-related research and assessment pieces alongside advocacy, legal, and operational work for regulators and exchanges around the world. This additionally incorporates functional pieces focused on derivatives education and training.
Highlights
- With offices situated in global financial centers, FIA's enrollment incorporates clearing firms, exchanges, clearinghouses, trading firms, and commodities experts from 50 nations; as well as technology merchants, law firms, and other professional service suppliers.
- The FIA's mission is to support open, straightforward, and competitive markets, secure and improve the integrity of the financial system, and advance high standards of professional conduct.
- The Futures Industry Association (FIA) is a global industry organization for the futures, options, and listed derivatives markets.
