On May 21, 2019, Mr. Walt Lukken, President and CEO of the Futures Industry Association (FIA), and Mr. Bill Herder, President of Asia Pacific, led a group of 11 senior executive representatives from futures companies such as Goldman Sachs, Citi,and Morgan Stanley to visit the Association meeting with the Association Chairman Wang Mingwei, Vice Chairman Zhang Xiaoxuan, Secretary General Wu Yajun etc. FIA is a Futures, Options and Central Clearing Derivatives Industry Association and currently has branches in Brussels, London, Singapore and Washington. Its purpose is to support the construction of an open, transparent and competitive market, protect and strengthen the stability of the financial system, and promote the formation of high-standard codes of conduct. FIA members include clearing houses, exchanges, FCMs, commodity traders, technology companies, lawyers and other futures industry service organizations from 48 countries.
The CFA and the FIA signed a memorandum of understanding in the United States in March 2014, agreeing to cooperate in information exchange, professional training, co-organizing industry conferences, and strengthening industry education. During the meeting, the two parties exchanged views on the development of the internationalization of China's futures industry in the past two years. Meanwhile, both had in-depth discussions on topics such as OTC derivatives net settlement, market access requirements, and types of market participants.