Welcome to Futures Industry
April/May 2000 Features
April/May 2000 Cover
TowerGroup Survey Documents Industry Transformation
Robert Iati
Published 4/1/2000
The Futures Industry Association commissioned the TowerGroup to conduct a survey of the spending, staffing, online order flow and technology priorities of futures commission merchants on a global basis. The survey was sent to 127 firms. The results represent 40 percent of the total futures industry, as measured by net capital. Full survey results can be found on the FIA or TowerGroup Web sites at www.fiafii.org or www.towergroup.com.
Robert Iati is the director of the Securities & Capital Markets practice at TowerGroup, a leading advisory research and consulting firm focused on the global financial services industry. He can be reached at riati@towergroup.com .
Futures Leads the Way in E-commerce
Mary Ann Burns
Published 4/1/2000
When a global intermediary needs leadership for its e-commerce initiative, what better place to look than the business unit that is international and has already experienced the move to electronic trading?
Mary Ann Burns is senior vice president of communications for the Futures Industry Association and editor-in-chief of Futures Industry magazine.
Clearing the Deck
Susan Abbott Gidel
Published 4/1/2000
U.S. clearing organizations would be given the flexibility to clear swaps transactions and operate separately from any of the three newly designated categories of exchange or trading facilities under the new regulatory framework proposed by the CFTC in late February.
European B2B
Brendan Bradley
Published 4/1/2000
The U.S. market may be way ahead of Europe with respect to developments in the business-to-business arena, but European exchanges seem to be ahead of U.S. markets in taking advantage of opportunities in these emerging markets.
Opportunity Knocks
Mary Ann Burns
Published 4/1/2000
The business-to-business market is discovering what the futures market has known all along-find a common location to bring buyers and sellers together, offer a standardized product, remove the credit and counterparty risk, and you have an efficient marketplace...with the added benefits of price discovery and transparency. While automating the procurement process for goods and services has brought efficiencies that reduce cost, the real savings come when prices of goods and services can be determined in a public forum. Hence the proliferation of new companies to provide services to the B2B community.
Mary Ann Burns is senior vice president of communications for the Futures Industry Association and editor-in-chief of Futures Industry magazine.
Outsourcing Self-Regulation
Daniel J. Roth
Published 4/1/2000
Technology has dramatically reduced the natural barriers to entry for new exchanges. Attracting a significant number of buyers and sellers to a centralized market place is much easier in cyberspace than in Chicago or New York, a reality which has created an unprecedented burst of interest in creating new exchanges.
April/May 2000 Departments
Washington Watch
Barbara Wierzynski
Published 4/1/2000
Both the Senate and House Agriculture Committees have circulated for comment from the industry and government officials draft legislation which attempts to sort out the scope of the Commodity Exchange Act and its application to the trading of over-the-counter markets.
Market Makers
Tracy Wahler
Published 4/1/2000
Four leading international banks and three oil companies have joined forces to create the IntercontinentalExchange, an OTC marketplace for trading energy and metal products.
President's Message
John Damgard
Published 4/1/2000
The environment is right in Washington right now to realize the changes necessary to move the futures industry forward-mainstream its products and broaden the opportunities for those it employs.
John Damgard is the president of the Futures Industry Association.
News Briefs
Editorial Staff
Published 4/1/2000
CFTC Proposes Hedge Fund Disclosure, CFTC Frees Index Contracts-FIA Asks Congress for Relief, CFTC Hosts Technology Roundtable, FIA Announces B2B Conference, FII Briefs Hill on Futures & Options
Prominent People
Editorial Staff
Published 4/1/2000