FIA Statements and Testimony
| FIA Testifies Before House Agriculture Subcommittee on CFTC ReauthorizationFIA President John Damgard testified at a Sept. 26 hearing of the House Agriculture Subcommittee on General Farm Commodities and Risk Management on the reauthorization of the Commodity Futures Trading Commission. The testimony emphasized three general points: the FIA endorses CFTC reauthorization, supports the CFTC's exclusive jurisdiction, and opposes major changes to the Commodity Exchange Act. |
| John Damgard statement before the U.S. House of Representatives Committee"Mr. Chairman, members of the Committee. On behalf of the Futures Industry Association (FIA), I want to thank you for the opportunity to appear before you today to discuss the application of the U.S. Futures Exchange LLC for designation as a contract market. FIA is a principal spokesman for the commodity futures and options industry. FIAs regular membership is comprised of approximately 40 of the largest futures commission merchants (FCMs) in the United States. Among its associate members are representatives from virtually all other segments of the futures industry, both national and international. Reflecting the scope and diversity of its membership, FIA estimates that its members effect more than 90 percent of all customer transactions executed on United States contract markets." |
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