No exchange on FOA board

No exchange representative has been elected to the board of Futures and Options Association (FOA) for the first time in the trade body's 14 year history. The exclusion of any one delegate from a derivatives exchange represents a shift in the way that FOA members now view exchanges and their role within the industry, sources told FO Week.

FOA's board has previously included representatives of Euronext Liffe, Intercontinental Exchange (ICE) and London Metal Exchange (LME) while a greater representation of investment banks have been supplanted and voted in...