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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.

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The division attracts executives from all areas of the clearing industry including FCMs as well as exchanges, industry service providers, law firms, and technology vendors. The division includes four active committees that meet on a regular basis: Clearing & Trade Management, Delivery, Events & Education, 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. 

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Our Committees

  • Financial Management
  • Clearing and Trade Management
  • Delivery
  • Events & Education
Purpose

The Financial Management Committee (FMC) fosters education and understanding of practices and regulations, and advocates for clarity and rule changes that protect and enhance the integrity of the industry.

Goals and Objectives

The scope of topics covered by the FMC includes financial, collateral, and margin management practices and regulations relevant to CFTC, NFA, DCMs and DCOs impacting regulated firms that 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 clearinghouses involved in the CFTC-regulated futures and cleared swaps industry who are from FIA member firms.

Contact forums@fia.org to learn more about joining this committee.

Purpose

The mandate of the Futures Industry Association Clearing & Trade Management Committee is to provide FCMs, industry professionals, US exchanges and US clearinghouses a forum to discuss current events, industry changes and all other relevant topics impacting the US marketplace.

Goals and Objectives

The committee’s 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 discussion.

Contact forums@fia.org to learn more about joining this committee.

Purpose

The purpose of the Delivery Committee is to provide a forum for discussing new product rollouts and upcoming industry initiatives affecting physical delivery and option expiration. The committee strives to reduce risk through education and automation with its clearinghouse counterparties.

Goals and Objectives

The goal of the Delivery Committee is to:

  • 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 good of the FCM community.
Roles and Responsibilities

The Delivery Committee chairs are chosen annually. The committee chairs identify topics of interest through the direction from the FIA Operations Americas board, the FCM community and participating CCPs.

Committee Membership

Membership is open to any industry professional employed by a member FCM or vendor. All CCPs are expected to assign a representative familiar with its related delivery and option processes and actively participate. 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 charitable giving, 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 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

The EEC aims to organize and execute events/fundraisers including Washington Outlook, the Chicago Golf Outing, New York events, and the Chicago Summer Outing.

Committee Membership

Current members are from FCMs, exchanges, broker dealers, and settlement/custodial banks.

Contact forums@fia.org to learn more about joining this committee.

Latest news and updates

  • FIA Operations Division to form Post-Trade Tech Committee

    As operations and clearing becomes more automated, operations professionals are increasingly impacted by technology issues. The FIA Operations Americas Division is forming a Post-Trade Technology Committee to consider topics such as tokenization, how artificial intelligence can be used in futures operations, and solving inefficiencies in the post-trade process. The new committee also will interface with CCPs on technology updates to existing systems as well as new initiatives.

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  • FIA Operations Division hosts panel on 24/7 Clearing

    The FIA Operations Americas Division held a workshop in May to consider the practical implications of clearing 24-hours-per-day/7-days-a-week in the current ecosystem.

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  • FIA Operations Division comment on DMIST Consultation Paper on 30/30/30 Standard

    We are writing to comment and highlight the proposed 30/30/30 standard. As a board, we are heavily in favor of this standard. This will help reduce operational risk by ensuring trades clear in the proper account in a timely fashion. To be more specific, this will allow for a more real-time account valuation, position monitoring, margining, as well as decrease the risk related to unallocated expiring transactions. As an industry, all participants stand to benefit from this proposed standard. That being said, we would also like to highlight some of the challenges in meeting this goal.

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  • FIA Operations Division comment on DMIST Consultation Paper on Average Pricing Standard

    The FIA Operations Americas Division provided comments on the DMIST Consultation Paper: Standard Regarding Average Pricing. The Division is fully supportive of achieving consistency across clearinghouses and responded to the questions raised in the consultation paper as well as made recommendations regarding specific functions that could be standardized.

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