Evolution of the Futures Market

Course Details

The futures industry is evolving rapidly as new products challenge traditional regulatory frameworks. This live two-part program provides a practical introduction to how both traditional and new futures markets operate, the infrastructure that supports them, and the regulatory principles designed to protect customers and promote market integrity. 

Day 1: Traditional Futures Markets 

The course begins with the fundamentals of futures markets, including contract design, exchange trading, clearing, margin, and the roles of hedgers, speculators, and intermediaries.

Day 2: Beyond Traditional Futures Markets 

The course continues with an examination of how perpetual futures and prediction markets work, why they have gained traction, and how regulators around the world are responding.  

Instructors:

Walt Lukken has served as President and CEO of FIA since 2012, providing leadership for the global cleared derivatives industry. Walt served as a Commissioner of the U.S. Commodity Futures Trading Commission from 2002 to 2009, including as Acting Chairman from 2007 to 2009. He previously worked on the U.S. Senate Agriculture Committee. Prior to joining FIA, he was CEO of New York Portfolio Clearing. He offers practical insights into the ways market structure and regulation work together to support efficient and resilient futures markets. 

James Overdahl is a partner at Delta Strategy Group. Before entering the private sector, he served as Chief Economist and Director of the Office of Economic Analysis at the SEC for three years and as Chief Economist at the CFTC for five years. Overdahl has published extensively in leading finance journals as well as co-authoring the book Financial Derivatives: Pricing and Risk Management and Futures, Options, and Swaps. His experience advising regulators, policymakers and market participants gives learners.

Who Should Attend?

The virtual, instructor-led workshop is suited for a broad range of participants including:

• Professionals new to the futures industry who want a practical understanding of how traditional futures markets operate, including trading, clearing, margin, and regulation.  
• Market participants, operations professionals, compliance staff, and regulators seeking a broader understanding of how market structure and regulation work together to support transparent and resilient derivatives markets.
• Industry professionals familiar with traditional futures markets as well as professionals new to the futures industry who want to learn about emerging products and the regulatory issues they raise. 
• Support, operations, sales, and marketing personnel at global brokerage firms
• Staff in trading, risk management, financial and legal departments
• Potential users of futures, options and swaps markets 
• Regulators and policymakers

Level:  Fundamental

Duration and Format:  Virtual instructor-led workshop is delivered in 90-minute sessions on two (2) consecutive days. Course hours are convenient for most U.S. participants and many global attendees.