Who Are We?
The Futures and Options Association (FOA) seeks to sustain industry growth and enhance the integrity of markets and firms through the cycle of regulatory change. It works with members to maintain constructive dialogue with government and regulatory authorities and deliver high standards of industry practice.
The FOA is principally concerned with financial and commodity exchange-traded derivatives markets. However, it also addresses related issues arising in other markets (e.g. OTC markets) or issues that have a cross-sectoral impact. In such cases, it liaises, as appropriate, with other affected trade associations, primarily: FIA, AFME, BBA, ISDA and WMBA.
What We Do?
The FOA's governing principles are:
- to maintain constructive engagement, i.e. present solutions, not just problems;
- to sustain regulatory flexibility, i.e. one size does not fit all
- to promote observance of the Principles of Good Regulation by regulatory authorities (e.g. proportionality, innovation, consultation, market analysis, feedback statements, sustaining competitiveness)
- to uphold choice, diversity, functionality and affordability in trading, investment and risk management
- to cooperate with trade associations through joint committees, "coalitions of the willing", etc on such matters as the MiFID Review, transatlantic regulatory dialogue, OTC regulation, commodity regulation, training and education
- to argue against disproportionate politicisation of the regulatory agenda
The FOA achieves these goals by:
- engaging in regulatory lobbying and market liaison - dialogue with government, regulatory authorities, exchanges and others;
- submitting formal position papers and responses to regulatory discussion and consultation papers;
- facilitating an exchange of views and resolving issues between members and others through committees, forum meetings and member "ring-rounds"
- engaging proactively with parliamentary groups in the UK and Brussels;
- supporting and taking forward member issues via its helpline services;
- issuing industry guidelines, publications and legal opinions;
- maintaining documentation libraries;
- holding events - IDX, City Debate, Power Trading Dinner, InfoNet and member seminars, workshops and "roundtables"
In addition to its core activities, the FOA was a founder member and continues to be an active supporter of the European Parliamentary Financial Services Forum (EPFSF) in Brussels. In the UK, the FOA initiated the establishment of the Associate Parliamentary Group (APG) on Wholesale Financial Markets and Services and is a member of its Industry Advisory Group. For more information about the EPFSF click here. For more information about the APG click here.