News of a deal between the Futures Industry Association and its European counterpart the Futures and Options Association comes as no surprise, but FOA members must get further assurances before they agree, says William Mitting.
A merger between the FOA by the FIA has been in the pipeline
for many years and the ambitious American organisation has
longed eyed expansion into Europe.
Now, amid rumours of threats by the FIA to set up a European
chapter to rival the FOA, denied by the FOA, a deal has been
formed that will see the FOA rebranded FIA Europe and sit in a
confederation with the FIA and FIA Asia under an umbrella
group, FIA Global, that will represent the organisations at a
According to a release outlining the deal yesterday, the FIA
and FOA "will continue to operate with their own leadership and
staff, separate boards of directors, and distinct membership"
while at the same time "strengthening their ability to address
issues on a global level".
On the face of it, this makes sense. The industry has long
been global, run by firms operating across numerous continents
and providing a global voice while maintaining local
representation could offer the best of both worlds.
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