The Futures and Options Association has formed a new advocacy body, the FOA European Industry Council, to lobby regulators and politicians.
The top executives at LCH.Clearnet, NYSE Liffe, ICE Futures Europe and the London Metal Exchange have joined the Council, together with senior investment bankers. Steve Sparke, chairman of the FOA, will chair the body, and Anthony Belchambers, the FOA’s chief executive, also sits on it.
“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 told FOi. “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. So having the exchanges and clearing houses involved in the Council at the most senior level is critical.”
Overcoming differences
The FOA...