What are the main issues concerning FIA at the moment?
The last year or so has been a very interesting time for this industry. There has been quite a sizeable pick-up in volatility over the last several months and that is inevitably going to filter down into futures, and the volume figures that we've seen so far this year have shown very robust growth across the board. At the same time more of our commodity markets here in the US are going electronic and Intercontinental Exchange is making a run at New York Mercantile Exchange, so it is an exciting time to be involved in this business.
FIA, as a trade association, is looking at a wide spectrum of issues, but at the moment we are mainly concerned with Commodity Futures Trading Commission [CFTC]'s recent decision to review the granting of no-action letters to non-US exchanges that want to offer...