Every year, firms across the derivatives industry welcome new cohorts of interns. They arrive with energy, curiosity and ambition, but often limited knowledge of how futures markets work, why they matter or how the many parts of the ecosystem fit together.
For firms, that can create a familiar challenge: how do you offer interns a meaningful introduction to the industry while keeping the experience engaging, practical and relevant?
FIA Markets Academy, FIA’s educational arm, has launched an Internship Academy to help meet that need. Designed as a ready-to-use learning resource, the program introduces interns – as well as new hires and others seeking a strong foundation – to the fundamentals of global derivatives markets.
Four concise, on-demand courses covering the essentials of the futures ecosystem serve as the core of the program. Designed to be accessible and grounded in real-world activity, the content helps build a clear understanding of the markets, participants and processes that underpin the industry.
MarketVoice spoke to Guy Sheetz, FIA’s chief financial officer who oversees the strategic direction, operations and expansion of FIA Markets Academy, about why the program was created, how firms can use it, and what interns can expect to learn.
MarketVoice: What gap in the market did FIA dentify when developing the Markets Academy Internship Program?
Guy Sheetz: We created the program in response to a very practical gap in the industry. Firms across the futures markets consistently bring in large numbers of interns each year, but most arrive with little or no exposure to how futures markets actually work. At the same time, firms want to offer meaningful, structured ways to engage those interns early on.
FIA Markets Academy recognised this disconnect and developed a ready-to-deploy solution, one that provides a clear, consistent foundation in derivatives markets. We want to provide interns both the context and confidence they need from day one, while also helping firms make better use of that early-career talent.
MV: The program covers areas such as futures fundamentals and the lifecycle of a trade. How did you decide what core knowledge interns needed from day one?
GS: We focused on the essential building blocks – what someone truly needs to understand to navigate the industry in a meaningful way. That starts with why futures markets exist and how they function, then moves quickly into how orders become trades and flow through to clearing and settlement. We also included the structure of a brokerage firm and the basics of exchange trading and regulation, so interns can see how different roles and functions connect.
Fundamentally, we started with a simple design principle: give interns a working mental model of the entire ecosystem, not just isolated concepts. That way, even if they’re placed in a specific role, they understand how their work fits into the bigger picture.
MV: How does the program reflect the realities of modern markets, particularly as traditional training environments have evolved?
GS: Learning is no longer happens organically on the desk in the same way it once did. Hybrid work environments, leaner teams and more specialised roles mean that interns have fewer opportunities to absorb knowledge informally.
We designed this program to bridge that gap by delivering structured, on-demand learning that mirrors real market activity. The content is concise, practical and grounded in how markets actually operate today – from electronic trading environments to clearing workflows and regulatory considerations. Just as importantly, it is flexible. Firms can integrate it into existing internship programs, ensuring a consistent baseline of knowledge regardless of where or how interns work.
MV: Beyond technical knowledge, what skills does the program aim to develop in early-career participants?
GS: While technical understanding is critical, the program also aims to foster a deeper appreciation of the futures markets, while building interns’ confidence and engagement.
Through interactive elements such as knowledge checks, flashcards and applied scenarios, interns are encouraged to actively test their understanding rather than passively consume information. This helps develop critical thinking, attention to detail and the ability to connect concepts across different parts of the market.
It also gives interns a common language, equipping them to ask informed questions and participate in conversations early on, which will enhance both their learning and their ability to contribute.
MV: How does the Internship program fit within the broader vision for FIA Markets Academy?
GS: The Internship program is an entry point into a much broader learning ecosystem. FIA Markets Academy supports professionals at every stage of their careers – from foundational knowledge through to specialised and regulatory training. The Internship Academy sits at the very beginning of that journey, helping new entrants build a strong foundation they can continue to develop over time.
In that sense, it’s not a standalone offering – it’s the first step in creating a more structured, industry-wide approach to education and professional development.
MV: What does success look like for the program?
GS: We think you can measure success in a few key ways. From the participant perspective, it’s about confidence and engagement. Interns who can quickly grasp how the markets work, ask better questions and contribute more meaningfully during their time at a firm.
From the firm's perspective, it’s about consistency and impact – having interns who arrive with, or quickly gain, a solid understanding of the market structure. That will allow teams to spend less time on basic orientation and more time on applied learning and development.
More broadly, success means creating a stronger pipeline of talent for the futures industry – individuals who are not only technically informed but also motivated and better prepared to build long-term careers in this space.
To find out more about the FIA Markets Academy Internship Program, visit: https://www.fia.org/markets-academy/articles/internship-academy
Building Futures Knowledge from Day One
At the core of the Internship Academy are four concise, on-demand courses that introduce interns to the essentials of the futures ecosystem:
Futures Basics provides the starting point. It explores why futures markets exist, how they have evolved, and how they function today. Interns gain a clear understanding of what differentiates futures from other financial instruments, helping them grasp the broader role these markets play in risk management and price discovery.
Lifecycle of a Trade builds on that foundation by following a trade from beginning to end. From order entry and execution to clearing and settlement, this course connects each step of the process, showing how transactions move through the market infrastructure and where key participants interact.
Anatomy of a Futures Broker shifts the focus to the firms themselves. Interns learn how front, middle and back-office functions operate—and how they work together to support trading activity and manage risk. This perspective helps demystify internal workflows and clarifies how different roles contribute to the overall operation.
Exchange Trading and Regulatory Fundamentals introduces interns to the rules and mechanics that govern trading. It covers how markets are accessed, how central limit order books function and key regulatory principles such as position limits and trade reporting. By combining market structure with regulatory context, the course reinforces both how trading happens and the rules that maintain market integrity.
