Operations Americas Division
The division promotes industry cooperation and the exchange of ideas not only among members in Chicago and New York, but among all FIA members across the Americas.
JOIN/RENEWThe division attracts executives from all areas of clearing industry including FCMs as well as exchanges, industry service providers, law firms, and technology vendors. The division includes five active committees that meet on a regular basis: Clearing & Trade Management, Deliveries, Events & Education, Market Fees, and Financial Management. FIA Operations Americas membership benefits include a discounted fee for programs, inclusion in the division membership directory, participation on working committees and networking events including the annual golf outings and summer events.
Our Committees
- Financial Management
- Clearing and Trade Management
- Delivery
- Events & Education
- Market Fees
Purpose
The Financial Management Committee (FMC) is a sub-committee within the FIA Operations Americas Division. Its purpose is intended to foster education and understanding of practices and regulations, and to advocate for clarity and rule change protecting and enhancing the integrity of the industry.
Goals and Objectives
The scope of matters covered by the FMC includes financial management practices and or regulations relevant to CFTC, NFA, DCMs. and DCOs impacting regulated firms who are FIA members.
Roles and Responsibilities
The FMC is chaired by Committee members chosen annually. The co-chairpersons, in consultation with the FMC Steering Committee/broader FMC, identify topics of interest for the FMC to address, typically through the formation of Working Groups. FIA staff support the FMC by sharing and coordinating information across FIA divisions and committees such as the FIA Law & Compliance Division.
Committee Membership
Membership consists of individuals employed by FCMs, Settlement and Custodial Banks, and Clearing Houses involved in the CFTC regulated futures and cleared swaps industry who are FIA member firms.
Contact forums@fia.org to learn more about joining this committee.
Purpose
The mandate of the Clearing & Trade Management Committee is to provide global FCMs, industry professionals, US exchanges and US clearing houses a forum to discuss current events, industry changes and all other relevant topics impacting the US marketplace.
Goals and Objectives
The committee’s ultimate goal is to improve communication and expedite information flow across the industry clearing community.
Committee Membership
The committee offers a collaborative environment for FCMs, FIA Members & Exchanges to raise issues for open and transparent discussion.
Contact forums@fia.org to learn more about joining this committee.
Purpose
The Delivery Committee is a sub-committee of the FIA Operations Americas Division. Its purpose is to provide a forum for discussing new product rollouts and upcoming industry initiatives affecting physical delivery and option expiration. The committee should always strive to reduce risk through education and automation with its CCP counterparties.
Goals and Objectives
- Increase communication among its members.
- Foster the relationship between CCPs and the FCM community.
- Provide an open forum for discussion of new product initiatives.
- Reduce FCM option expiration risk through automation.
- Mitigate delivery risk by working with CCPs to streamline settlement processes where possible.
- Promote change for the better good of the FCM community.
Roles and Responsibilities
The Delivery Committee is chaired by members chosen annually. The committee chairs identify topics of interest through the direction from the FIA Industry Americas’ board, the FCM community and the participating CCPs.
Committee Membership
Membership is open to any industry professional employed by a member FCM or vendor. All CCPs are expected to actively participate through an assigned representative familiar with its related delivery and option processes. Our target audience is personnel involved in the trade life cycle processes ending in delivery or option expiration.
Contact forums@fia.org to learn more about joining this committee.
Purpose
The purpose of the Events and Education Committee (EEC) is to educate FIA members on current market events, topics and industry fundamentals. The committee also raises funds through annual events for the FIA Scholarship, awarded to college-bound children of FIA Division members, as well as provides opportunities to build relationships and network with like-minded individuals.
Goals and Objectives
The EEC’s Goals and Objectives are to organize and execute educational events that focus on key industry issues challenging Division Members. The Committee also raises funds and manages an annual scholarship fund/charity donation. The Committee works with FIA’s internal marketing team to manage communication regarding new member enrollment as well as division event planning.
Roles and Responsibilities
In a normal year, the EEC aims to organize and execute events/fundraisers including the Washington Outlook, the Chicago Golf Outing, the New York Golf Outing and the Chicago Summer Outing. The Committee also manages the communication with Scholarship America, who in the past has managed the Division’s Scholarship Fund. The Committee also organizes the Division Holiday Party.
Committee Membership
Current members are from the FCM, broker dealers, and settlement/custodial banks community.
Contact forums@fia.org to learn more about joining this committee.
Purpose
The role of the Market Fees Committee is to provide a forum to review and discuss global exchange and clearing house fee related items. The forum offers FCMs and FIA members an opportunity to review current exchange fee schedules, CCP reporting provided in relation to fee charges, inconstancies we see between exchange practices and any issues to be raised in relation to market fees.
Goals and Objectives
- Provide FCMs and FIA members information on current charges and fee reporting availability.
- Establish a consensus of standards in reporting and champion changes with exchanges and clearing houses not meeting the committee criteria.
- Highlight exchange fee information and practices that are desired by clearing members, but currently not prevalent from the industry.
- Meet regularly with global exchange representatives to discuss current offerings and coming changes in relation to their market fees.
Roles and Responsibilities
Managing and collating exchange fee objectives and distribution of information on market fees.
Committee Membership
Members include representatives from FCMs, broker dealers, and vendors.
Contact forums@fia.org to learn more about joining this committee.
Latest news and updates
FIA responds to DORA Level 2 consultations
FIA has responded to the European Supervisory Authorities’ consultations on the first batch of policy products under the Digital Operational Resilience Act (DORA). While FIA generally supports the ESAs’ proposed changes, the responses highlight remaining industry concerns and areas where more clarity is needed.
CONTINUE READINGDMIST extends comment period on average pricing standard
The comment period on the Derivatives Market Institute for Standards (DMIST) Consultation Paper on a Standard Regarding Average Pricing has been extended to October 12.
CONTINUE READINGCFTC committee discusses technology and cyber issues
The US Commodity Futures Trading Commission held a meeting of its Technology Advisory Committee (TAC) on 18 July, touching on topics including the use of artificial intelligence, decentralized finance, and cyber resilience for financial markets.
CONTINUE READINGLiquidity and margin concerns top areas of market evolution
Industry leaders at FIA's IDX conference acknowledged the continued resilience of global derivative markets amid recent disruptions, but noted several new areas of improvement and opportunity as the industry looks to the future with a focus on market liquidity.
CONTINUE READING
