The Futures and Options Association and the Futures Industry Association, on 21 June 2013, announced an agreement in principle to combine their two organisations under one global structure and brand called FIA Global.

Under this agreement, FIA—with its affiliate FIA Asia—will form a confederation with FOA under FIA Global. This new structure will enable the associations to strengthen their influence on cross-border issues, substantially increase the coordination and information flow between regions, and provide a powerful global voice to express the views of FOA and FIA members.

To reflect the affiliation with FIA and to enhance the development of a global brand, it is proposed that FOA will change its name to FIA Europe. Both organisations will continue to operate with their own leadership and staff, separate boards of directors, and distinct membership.

The proposed affiliation between FOA and FIA will achieve the following goals:

  • enable the associations to speak as one global voice to better reflect and represent the cross-border nature of the derivatives business;
  • extend the global reach of the industry and strengthen the influence of the associations both locally and globally;
  • enable the associations to pool and target resources and expertise as issues arise regionally and around the globe; and
  • enable the associations, wherever possible, to align their policies and strategies to create operational and regulatory efficiencies for their global members.

The agreement in principle has been approved by the boards of directors of FOA and FIA. Next it will be presented to FOA members for a vote on the necessary constitutional changes at a membership meeting, as required by FOA Articles of Association. That meeting is provisionally scheduled for July 24.

Implementation of the proposals will also be subject to the formation of FIA Global and the necessary constitutional changes to the bylaws of the FIA. In the interim, FOA and FIA expect to organise several briefings for members to describe the new structure, explain the benefits, and answer questions.

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