The Futures and Options Association formed a new advocacy body in January, the FOA European Industry Council, to lobby regulators and politicians.
Top executives at LCH.Clearnet, NYSE
Liffe, ICE Futures Europe and the London Metal Exchange have
joined the council, as well as senior investment bankers. Steve
Sparke, chairman of the FOA, will chair the body, and Anthony
Belchambers, the FOA’s chief executive, also sits
"This is a response to what we see as a
massive agenda of regulatory change facing the industry over
the next 12 to 18 months," Sparke said. "It’s
important that the industry is seen to be speaking with one
unified voice on issues where there is broad agreement between
all market participants. Having the exchanges and clearing
houses involved in the council at the most senior level is
The FOA is the established industry body
for European listed derivatives. Although the exchanges and
clearing houses are members of it, the FOA has tended to
represent mainly the interests of derivative users and
intermediaries such as banks and trading firms.
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