2024-11-06T07:17:34-06:00 2023-12-31 BDO USA 8401 GREENSBORO DRIVE 800 MCLEAN VA 22102 990 2023-01-01 135642275 Futures Industry Association Inc % R GUY SHEETZ FUTU 2024665460 2001 K STREET NW Suite 725 WASHINGTON DC 20006 WALTER LUKKEN PRESIDENT & CEO 2024665460 2024-11-05 true true Marc Berger P01871563 7038930600 2023 2024-10-15 13:58:12Z WALTER LUKKEN 2001 K STREET NW725 WASHINGTON DC 20006 33769195 false X WWW.FIA.ORG X 1955 NY THE FUTURES INDUSTRY ASSOCIATION'S MISSION IS TO BE THE GLOBAL THOUGHT LEADER, ADVOCATE AND EDUCATOR FOR FUTURES AND SWAPS WHICH ARE CENTRALLY CLEARED. 29 28 45 28 0 0 0 29896556 31272650 386189 1007525 427174 1489020 30709919 33769195 0 0 0 0 10488950 10996811 0 0 0 22213568 24076382 32702518 35073193 -1992599 -1303998 71884707 48552885 51013493 27188244 20871214 21364641 X SEE SCHEDULE O. false false FIA IS THE LEADING GLOBAL TRADE ASSOCIATION FOR THE FUTURES, OPTIONS AND CENTRALLY CLEARED DERIVATIVES MARKET. FIA'S MEMBERSHIP REPRESENTS CLEARING FIRMS, EXCHANGES, CLEARINGHOUSES, TRADING FIRMS, AND COMMODITY SPECIALISTS, AS WELL AS TECHNOLOGY VENDORS, LAW FIRMS AND OTHER PROFESSIONAL SERVICE PROVIDERS. FIA WORKS ACTIVELY TO PRESERVE THE SYSTEM OF FREE AND COMPETITIVE MARKETS BY REPRESENTING THE INTERESTS OF THE INDUSTRY IN CONNECTION WITH BUSINESS, REGULATORY EXCHANGE, INTERNATIONAL AND LEGISLATIVE ISSUES THROUGH THE EXCHANGE OF IDEAS SUPPORTED BY OUR CONFERENCES AND EVENTS. FIA'S DOCUMENTATION LIBRARY AND CCP RISK REVIEW SERVICES PROVIDE VALUABLE LEGAL OPINIONS, CLIENT TERMS OF BUSINESS DOCUMENTATION, AND SUMMARIES OF RULES AND PROCEDURES OF CCP'S WORLDWIDE. FIA WORKS CLOSELY WITH MEMBER FIRMS TO DEVELOP INDUSTRY-STANDARD AGREEMENTS THAT ALL MARKET PARTICIPANTS CAN USE TO SUPPORT THEIR TRADING AND CLEARING FUNCTIONS AS WELL AS ENSURE REGULATORY COMPLIANCE IN DIFFERENT JURISDICTIONS. false false false true false false false false false true false false true true true false true false true true false false false false false false false false true false false false false false false false false false false false true true true false true 21 0 true 45 true false true UK SN false false false false true false X 29 28 false false false false true true false true true false true true false true true true true true true true true true DC X R GUY SHEETZ 2024665460 2001 K ST NW SUITE 725 NORTH TOWE WASHINGTON DC 20006 X WALTER LUKKEN PRESIDENT & CEO 37.5 4.0 X X 1765415 0 43170 JACQUELINE MESA COO & SVP OF GLOBAL POLICY 37.5 0.0 X 808977 0 43170 ALLISON LURTON CHIEF LEGAL OFFICE & GEN CNCL 37.5 4.0 X 657386 0 43170 RICHARD G SHEETZ SVP & CFO 37.5 4.0 X 503917 0 43170 DONALD BYRON HEAD OF GLOBAL INDUSTRY OPER. 37.5 0.0 X 354678 0 43170 WILLIAM ACWORTH SVP PUBS, DATA & RESEARCH 37.5 0.0 X 320396 0 42645 MICHAEL SORRELL ASSOCIATE GENERAL COUNSEL 37.5 0.0 X 307030 0 41986 KYLE GLENN DIR. OF GOVERNMENT RELATIONS 37.5 0.0 X 262949 0 38132 ANTOINETTE CHAN VP BUSINESS DEVELOPMENT 37.5 0.0 X 261647 0 36877 MALLERS JOANNA EXECUTIVE DIRECTOR, PTG 37.5 0.0 X 252075 0 35911 NATALIE TYNAN ASSOCIATE GENERAL COUNSEL 37.5 4.0 X 234641 0 35575 MARY ANN BURNS CONSULTANT 15.0 4.0 X 15000 0 0 ERIC ALDOUS DIRECTOR 4.0 0.0 X 0 0 0 GORDON ALEXANDER DIRECTOR 4.0 0.0 X 0 0 0 TOM ANDERSON DIRECTOR 4.0 0.0 X 0 0 0 SAMINA ANWAR DIRECTOR 4.0 0.0 X 0 0 0 WILLIAM BLACK DIRECTOR 4.0 0.0 X 0 0 0 CHRIS BAINBRIDGE DIRECTOR 4.0 0.0 X 0 0 0 ROBERT BOOIJ DIRECTOR 4.0 0.0 X 0 0 0 ADAM COHEN DIRECTOR 4.0 0.0 X 0 0 0 GERALD CORCORAN DIRECTOR 4.0 0.0 X 0 0 0 ROBERT CREAMER DIRECTOR 4.0 0.0 X 0 0 0 ALICIA CRIGHTON DIRECTOR 4.0 0.0 X 0 0 0 JAN BART DE BOER DIRECTOR 4.0 0.0 X 0 0 0 TOM GILLIS DIRECTOR 4.0 0.0 X 0 0 0 MARK IBBOTSON DIRECTOR 4.0 0.0 X 0 0 0 NAJIB LAMHAOUAR DIRECTOR 4.0 0.0 X 0 0 0 KARI LARSEN DIRECTOR 4.0 0.0 X 0 0 0 TERESA LOPEZ DIRECTOR 4.0 0.0 X 0 0 0 FEDERICA MAZZUCATO DIRECTOR 4.0 0.0 X 0 0 0 ALISTAIR MCGRATH DIRECTOR 4.0 0.0 X 0 0 0 JOHN MURPHY DIRECTOR 4.0 0.0 X 0 0 0 JAMILA PIRACCI DIRECTOR 4.0 0.0 X 0 0 0 MARIAM RAFI DIRECTOR 4.0 0.0 X 0 0 0 EMMA RICHARDSON DIRECTOR 4.0 0.0 X 0 0 0 GARY SAUNDERS DIRECTOR 4.0 0.0 X 0 0 0 JASON SWANKOSKI DIRECTOR 4.0 0.0 X 0 0 0 RAY TUBRIDY DIRECTOR 4.0 0.0 X 0 0 0 MICHAEL VOISIN DIRECTOR 4.0 0.0 X 0 0 0 EMMA WEST DIRECTOR 4.0 0.0 X 0 0 0 5744111 0 446976 25 true true false MILLBANK LLP 55 HUDSON YARDS NEW YORK NY 100012163 LEGAL CONSULTANCY 975218 TEAM SUBJECT MATTER LLC 1201 NEW YORK AVENUE NW STE 900 WASHINGTON DC 20005 CONSULTING 180000 KATTEN MUNCHIN ROSENMAN 525 W MONROE STREET CHICAGO IL 60661 LEGAL CONSULTANCY 126452 WILLKIE FARR GALLAGHER 787 7TH AVENUE 2ND FLOOR NEW YORK NY 10019 123660 4 0 DUES AND SUBSCRIPTION 900099 17351435 17351435 CONFERENCE REVENUE 900099 7648916 7648916 CCP RR AND DOCUMENTATION LIBRARY 900099 6132983 6132983 OTHER PROGRAM SERVICE REVENUE 900099 139316 139316 31272650 1007525 1007525 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ASSESSMENT FEES 900099 1046469 1046469 SUB LEASE REVENUE 900099 329008 329008 CONSULTING SERVICES REVENUE 900099 113148 113148 395 395 1489020 33769195 32761670 1007525 0 0 0 0 3735695 0 5571954 553694 625568 509900 4043486 1018114 84610 825380 0 46238 61106 11746 171295 638419 0 418614 743127 0 5476497 0 7202360 2333076 135365 SUBSCRIPTIONS & PUBLICATIONS 254758 BANK & CC SERVICE CHARGES 203455 OTHER TAXES 194843 CUSTODIAL FEES 124883 89010 35073193 4177086 912209 0 0 0 0 3979816 522415 0 0 0 0 0 0 0 0 717047 957238 7500822 3835178 3782022 3665644 22300303 34826184 0 0 0 0 0 0 36928433 7669195 71884707 48552885 5283813 4257365 0 0 8206267 12602491 0 0 0 0 0 0 0 0 0 0 37523413 10328388 51013493 27188244 X 20871214 21364641 0 0 20871214 21364641 71884707 48552885 X -1303998 2586786 -763044 -26317 X false true X true false 797703 797703 797703 false false true 17351435 797703 21895 819598 1041086 -221488 2045807 641223 1404584 907715 541572 366143 4547301 2652384 1894917 3665644 RIGHT OF USE ASSET - LEASES 4294285 INVESTMENT IN SUBSIDIARY 3374910 7669195 0 LEASE LIABILITY ROU 7112502 FIA DUE TO AFFILIATES 2462876 DEFERRED RENT 636232 TAXES PAYABLE 116778 10328388 X LIABILITY FOR UNCERTAIN TAX POSITION (ASC 740) SCHEDULE D, PART X, LINE 2 THE ASSOCIATION IS RECOGNIZED BY THE IRS AS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(6) OF THE CODE. PURSUANT TO THE CODE AND APPLICABLE STATE REGULATIONS, THE ASSOCIATION IS EXEMPT FROM INCOME TAX EXCEPT FOR INCOME TAXES ON UNRELATED BUSINESS ACTIVITIES. FOR COMBINED FINANCIAL STATEMENT PURPOSES, THE ASSOCIATION IS REQUIRED TO RECORD A LIABILITY FOR ANY MATERIAL TAX POSITION TAKEN WHICH DOES NOT MEET THE MINIMUM THRESHOLDS OF "MORE LIKELY THAN NOT" TO BE SUCCESSFUL UNDER REGULATORY CHALLENGE. FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022, THE ASSOCIATION HAD AN IMMATERIAL AOUNT OF UNRELATED BUSINESS INCOME TAX INCOME AND LIABILITY. Europe (Including Iceland and Greenland) 3 20 Program Services GLOBAL ACTIVITIES 5499103 East Asia and the Pacific 1 4 Program Services GLOBAL ACTIVITIES 1353997 4 24 4 24 6853100 6853100 false false true false false false ACCOUNTING METHOD USED SCHEDULE F, PART I, LINE 3, COLUMN F THE EXPENDITURES, PER REGION, ARE PRESENTED ON THE ACCRUAL BASIS OF ACCOUNTING. X X X X false false false WALTER LUKKEN PRESIDENT & CEO 612915 0 1100000 0 52500 0 29700 0 13470 0 1808585 0 0 0 JACQUELINE MESA COO & SVP OF GLOBAL POLICY 511477 0 245000 0 52500 0 29700 0 13470 0 852147 0 0 0 ALLISON LURTON CHIEF LEGAL OFFICE & GEN CNCL 359886 0 245000 0 52500 0 29700 0 13470 0 700556 0 0 0 RICHARD G SHEETZ SVP & CFO 216417 0 235000 0 52500 0 29700 0 13470 0 547087 0 0 0 DONALD BYRON HEAD OF GLOBAL INDUSTRY OPER. 279678 0 75000 0 0 0 29700 0 13470 0 397848 0 0 0 WILLIAM ACWORTH SVP PUBS, DATA & RESEARCH 245396 0 75000 0 0 0 29175 0 13470 0 363041 0 0 0 MICHAEL SORRELL ASSOCIATE GENERAL COUNSEL 240730 0 43800 0 22500 0 28516 0 13470 0 349016 0 0 0 KYLE GLENN DIR. OF GOVERNMENT RELATIONS 202749 0 37700 0 22500 0 24662 0 13470 0 301081 0 0 0 ANTOINETTE CHAN VP BUSINESS DEVELOPMENT 225697 0 35950 0 0 0 23407 0 13470 0 298524 0 0 0 MALLERS JOANNA EXECUTIVE DIRECTOR, PTG 202764 0 34350 0 14961 0 22441 0 13470 0 287986 0 0 0 NATALIE TYNAN ASSOCIATE GENERAL COUNSEL 178191 0 33950 0 22500 0 22105 0 13470 0 270216 0 0 0 MARY ANN BURNS CONSULTANT 0 0 0 0 15000 0 0 0 0 0 15000 0 0 0 BONUS AND COMPENSATION SCHEDULE J, PART I, LINE 3 THE COMPENSATION COMMITTEE OF THE BOARD OF FUTURES INDUSTRY ASSOCIATION WAS DILIGENT IN OBTAINING AND REVIEWING MARKET DATA TO ASSESS A BONUS PAYMENT TO MR. LUKKEN. HIS COMPENSATION, AS WELL AS THE COMPENSATION OF OTHERS, WAS DISCUSSED AND REVIEWED IN DETAIL AT A MEETING OF THE COMPENSATION COMMITTEE. ORGANIZATION'S MISSION: FORM 990, PART III, LINE 1 THE FUTURES INDUSTRY ASSOCIATION'S (FIA) MISSION IS TO: - SUPPORT OPEN, TRANSPARENT AND COMPETITIVE MARKETS, - PROTECT AND ENHANCE THE INTEGRITY OF THE FINANCIAL SYSTEM, AND - PROMOTE HIGH STANDARDS OF PROFESSIONAL CONDUCT. AS THE PRINCIPAL MEMBERS OF DERIVATIVES CLEARINGHOUSES WORLDWIDE, FIA'S CLEARING FIRM MEMBERS PLAY A CRITICAL ROLE IN THE REDUCTION OF SYSTEMIC RISK IN GLOBAL FINANCIAL MARKETS. INFORMATION ABOUT MEMBERSHIP: FORM 990, PART VI, SECTION A, LINE 1A THE ASSOCIATION WILL HAVE ONE OR MORE MEMBERS IDENTIFIED, SELECTED AND ADMITTED BY THE BOARD (EACH, A "MEMBER COLLECTIVELY, THE "MEMBERS", AND IF ENTITLED OR NOT ENTITLED TO VOTE, "PRIMARY MEMBERS"ASSOCIATE MEMBERS," RESPECTIVELY). THE TERMS OF MEMBERSHIP AND ANY CLASSIFICATION OR CATEGORIZATION THEREOF WILL BE DEFINED AND DETERMINED FROM TIME TO TIME BY THE BOARD OF DIRECTORS IN ACCORDANCE WITH THESE BYLAWS, THE ASSOCIATION'S ARTICLES OF INCORPORATION, AND THE NEW YORK NOT-FOR-PROFIT CORPORATION LAW ("NFPCL"), INCLUDING WITH RESPECT TO QUALIFICATIONS, APPLICATIONS AND ISSUANCE OR CHARTERING; DUES, ASSESSMENTS, FEES AND OTHER OBLIGATIONS OR RESPONSIBILITIES; BENEFITS, SERVICES, RIGHTS AND PRIVILEGES, INCLUDING WITH RESPECT TO VOTING; AND DURATION, LAPSE, FORFEITURE, SUSPENSION, RESIGNATION, TERMINATION, EXPULSION, REVOCATION AND REINSTATEMENT. THE BOARD SHALL CONSIST OF UP TO THIRTY (30) INDIVIDUALS, COMPRISED OF PRIMARY MEMBER DIRECTORS, EX-OFFICIO MEMBER DIRECTORS, ASSOCIATE MEMBER DIRECTORS, AND AT-LARGE MEMBER DIRECTORS AS DEFINED HEREIN. PRIMARY MEMBER DIRECTORS - UP TO SIXTEEN (16) INDIVIDUALS, EACH OF WHOM SHALL BE AN EXECUTIVE OFFICER, PARTNER OR SOLE PROPRIETOR OF A PRIMARY MEMBER COMPANY, POSSESSING THE RESPONSIBILITIES AND AUTHORITY TO BIND AND ACT ON BEHALF OF THEIR EMPLOYER ORGANIZATION ON A GLOBAL BASIS. EX-OFFICIO DIRECTORS - EACH OF SIX (6) INDIVIDUALS SHALL SERVE AS DIRECTORS BY VIRTUE OF THEIR POSITIONS AS PROVIDED HEREIN. THE PRESIDENT AND THE ADVISORY BOARD CHAIRS OF THE EUROPE ADVISORY BOARD, THE ASIA ADVISORY BOARD, AND THE AMERICAS ADVISORY BOARD SHALL EACH SERVE AS EX-OFFICIO DIRECTORS, AND THE CHAIRS OF THE PTG AND EPTA SHALL SERVE AS AN EX-OFFICIO DIRECTOR AS DESCRIBED IN SECTION 3.3. ASSOCIATE MEMBER DIRECTORS - UP TO FIVE (5) INDIVIDUALS, EACH OF WHOM SHALL BE AN EXECUTIVE OFFICER, PARTNER OR SOLE PROPRIETOR OF AN ASSOCIATE MEMBER COMPANY, POSSESSING THE RESPONSIBILITIES AND AUTHORITY TO BIND AND ACT ON BEHALF OF THEIR EMPLOYER ORGANIZATION ON A GLOBAL BASIS. AT-LARGE DIRECTORS - UP TO FOUR (4) INDIVIDUALS OF SUITABLE EXPERIENCE AND EXPERTISE TO CONTRIBUTE TO THE ASSOCIATION AND THE INDUSTRY AS A WHOLE. AT-LARGE DIRECTORS NEED NOT BE MEMBERS OR AFFILIATED WITH ANY MEMBER COMPANY. FOR THE PURPOSES OF FORM 990, A MEMBER OF FIA'S GOVERNING BODY IS CONSIDERED "INDEPENDENT" ONLY IF ALL FOUR OF THE FOLLOWING CIRCUMSTANCES APPLIED AT ALL TIMES DURING FIA'S JANUARY 1, 2023 - DECEMBER 31, 2023 TAX YEAR: 1. NOT COMPENSATED AS AN FIA OFFICER OR OTHER EMPLOYEE OR RELATED ORGANIZATION 2. DID NOT RECEIVE MORE THAN $10,000 COMPENSATION IN 2023 FROM FIA OR RELATED ORGANIZATIONS AS AN INDEPENDENT CONTRACTOR, OTHER THAN FOR HIS/HER SERVICES AS A MEMBER OF FIA'S GOVERNING BODY 3. DID NOT OTHERWISE RECEIVE, DIRECTLY OR INDIRECTLY, MORE THAN $50,000 IN 2023 FINANCIAL BENEFITS FROM FIA OR A RELATED ORGANIZATION 4. DID NOT HAVE A FAMILY MEMBER WHO RECEIVED COMPENSATION OR OTHER MATERIAL FINANCIAL BENEFITS FROM FIA OR A RELATED ORGANIZATION UNDER THIS DEFINITION, THE FIA'S PUBLIC DIRECTORS QUALIFY AS "INDEPENDENT" WITH THE EXCEPTION OF FIA'S PRESIDENT, WALTER LUKKEN, WHO IS A FULL-TIME PAID EMPLOYEE OF FIA. MEMBERS OR SHAREHOLDERS: FORM 990, PART VI, SECTION A, LINE 6 FIA MEMBERSHIP CLASSES ARE COMPOSED OF PRIMARY, AND ASSOCIATE MEMBERS AS DEFINED BELOW. PRIMARY MEMBERS ARE LIMITED TO CLEARING MEMBERS THAT HOLD CUSTOMER FUNDS AND THUS CONTRIBUTE SUBSTANTIALLY TO THE SAFETY AND SOUNDNESS OF THE MARKET INFRASTRUCTURE. ASSOCIATE MEMBERS OF FIA SUPPORT THE OVERALL ECOSYSTEM OF THE CLEARED DERIVATIVES MARKETS, INCLUDING CLEARING ORGANIZATIONS, EXCHANGES, GLOBAL AND REGIONAL EXECUTING BROKERS, PRINCIPAL TRADING FIRMS, COMMODITY FIRMS, TECHNOLOGY VENDORS, LEGAL SERVICES AND OTHER PROFESSIONAL SERVICE PROVIDERS. MEMBERS OR SHAREHOLDERS WHO MAY ELECT & DECISIONS: FORM 990, PART VI, SECTION A, LINE 7A ONLY PRIMARY MEMBERS MAY VOTE AND MAY DO SO IN PERSON OR BY PROXY APPOINTED BY AN INSTRUMENT IN WRITING SUBSCRIBED BY SUCH PRIMARY MEMBER OR BY ITS DULY AUTHORIZED ATTORNEY-IN-FACT, AND IN ELECTIONS FOR DIRECTORS, PRIMARY MEMBERS SHALL VOTE BY BALLOT. EACH PRIMARY MEMBER SHALL BE ENTITLED TO ONE VOTE ON ANY OTHER MATTERS PROVIDED FOR A VOTE OF THE PRIMARY MEMBERS. IN ALL MATTERS, INCLUDING IN THE ELECTION OF DIRECTORS, THE AFFIRMATIVE VOTE OF A MAJORITY OF THE PRIMARY MEMBERS PRESENT IN PERSON OR REPRESENTED BY PROXY AND VOTING AT THE MEETING WILL BE THE ACT OF THE PRIMARY MEMBERS, UNLESS THE VOTE OF A GREATER NUMBER IS REQUIRED UNDER THESE BYLAWS, THE ASSOCIATION'S ARTICLES OF INCORPORATION OR THE NFPCL. FORM 990 REVIEW PROCESS: FORM 990, PART VI, SECTION B, LINE 11B CFO CONDUCTED REVIEW IN COLLABORATION WITH AN INDEPENDENT ACCOUNTING FIRM. DISCUSSION WAS HELD AT THE EXECUTIVE LEVEL WITHIN THE ORGANIZATION. CONFLICT OF INTEREST POLICY MONITORING & ENFORCEMENT: FORM 990, PART VI, SECTION B, LINE 12C FIA CONFLICT OF INTEREST POLICY: AN FIA OFFICER, MEMBER OF THE BOARD OR EMPLOYEE ("SUCH PERSONS") ASSUMES A FIDUCIARY DUTY THAT CARRIES WITH IT BROAD AND UNBENDING LOYALTY TO THE FIA. THE BOARD, OFFICERS AND EMPLOYEES HAVE THE RESPONSIBILITY TO ADMINISTER THE AFFAIRS OF THE ASSOCIATION HONESTLY AND PRUDENTLY FOR THE SOLE BENEFIT OF THE ORGANIZATION. SUCH PERSONS SHALL EXERCISE THE UTMOST GOOD FAITH IN ALL MATTERS INVOLVED IN THEIR DUTIES, AND THEY SHALL NOT USE THEIR POSITIONS WITHIN THE ORGANIZATION OR KNOWLEDGE GAINED FROM THE ORGANIZATION FOR THEIR PERSONAL BENEFIT. IT IS THE POLICY OF THE FIA TO REQUIRE SUCH PERSONS TO SUPPLY A WRITTEN DECLARATION OF THEIR ENGAGEMENT IN ANY ACTIVITY THAT RELATES TO THOSE ACTIVITIES OF THE FIA AND COULD CONTRIBUTE TO OR AFFECT THE SUCCESS OF THE FIA, OR MAY CREATE A CONFLICT OF INTEREST WITH THE FIA. THE CONFLICTS MAY INCLUDE AN OWNERSHIP INTEREST IN AN ENTITY FROM WHICH THE ORGANIZATION PROCURES GOODS OR SERVICES, OR OTHER TRANSACTIONS CARRYING THE POSSIBILITY OF PERSONAL GAIN AT THE EXPENSE OF FIA, OR ANY TRANSACTION IN WHICH FIA IS DOING BUSINESS WITH A FAMILY MEMBER OR BUSINESS PARTNER OF SUCH PERSONS. KNOWN OR POSSIBLE CONFLICTS CALLING FOR DISCLOSURE ALSO INCLUDE: - ANY OTHER ENTITY INVOLVEMENT CONFLICTS; - SUBJECT MATTER CONFLICTS; - CONFLICTS OF CURRENT OR POTENTIAL FINANCIAL INTEREST, OWNERSHIP, COMPENSATION IN AN ORGANIZATION THAT IS A VENDOR TO FIA APART FROM KNOWN PARTNERSHIPS OR MEMBERSHIPS; - FAMILY CONFLICTS; - OTHER BOARD/CLIENT CONFLICTS; - OTHER CONFLICTS THAT SUCH PERSON RECOGNIZES TO BE AS SUCH THROUGH ANALOGY OF THOSE MENTIONED ABOVE. THE FIA RECOGNIZES THAT DISCLOSURE OF A CONFLICT OR A POSSIBLE CONFLICT DOES NOT PRECLUDE THE ENTITY FROM DOING BUSINESS WITH A RELATED PARTY. HOWEVER, SUCH PERSONS HAVING A CONFLICT OF INTEREST SHALL NOT PARTICIPATE OR USE ANY PERSONAL INFLUENCE IN THE DISCUSSION OF THE SUBJECT OR MAKE ANY RECOMMENDATIONS REGARDING THE SUBJECT AND WILL EXCUSE HIM OR HERSELF FROM ALL DECISION-MAKING REGARDING THE TOPIC. THE FIA AUDIT COMMITTEE IS CHARGED WITH RESPONSIBILITY FOR REVIEWING ALL DISCLOSURES OR RELATED ACTIVITIES OR CONFLICTS OF INTEREST. ALL OFFICERS, MEMBERS OF THE BOARD, AND EMPLOYEES OF FIA ARE REQUIRED TO REPORT ANNUALLY, OR UPON OCCURRENCE,THEIR DISCLOSURE OF CONFLICTS USING THE STANDARD FIA FORM PROVIDED. PROCESS FOR DETERMINING COMPENSATION: FORM 990, PART VI, SECTION C, LINE 15A THE CHAIRMAN OF THE FIA BOARD OF DIRECTORS SERVES AS CHAIR FOR BOTH THE EXECUTIVE COMMITTEE AND THE COMPENSATION COMMITTEE. THE EXECUTIVE COMMITTEE ALSO HAS AUTHORITY TO DETERMINE THE NUMBER AND COMPENSATION OF ANY PAID DIRECTORS. ALL OFFICERS, EXCEPT AS THE BOARD DETERMINES, SERVE WITHOUT COMPENSATION. THE FIA BOARD'S COMPENSATION COMMITTEE DETERMINES THE COMPENSATION OF FIA'S CEO WITH COMPARABILITY DATA AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION. PROCESS FOR DETERMINING COMPENSATION: FORM 990, PART VI, SECTION B, LINE 15B THE PROCESS FOR DETERMINING THE COMPENSATION OF ALL EMPLOYEES INCLUDED A REVIEW AND APPROVAL BY INDEPENDENT PERSONS, COMPARABILITY DATA AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION. HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC: FORM 990, PART VI, SECTION C, LINE 19 THE FIA MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST TO THE EXTENT REQUIRED BY LAW. OTHER CHANGES IN NET ASSETS OR FUND BALANCE: FORM 990, PART XI, LINE 9: FOREIGN EXCHANGE TRANSLATION $ (26,317) THE INSTITUTE FOR FINANCIAL MARKETS 2001 K STREET NW STE 725 WASHINGTON DC 20006 521634508 EDUCATIONAL DC 501(C)(3) 10 FIA true DERIVATIVES MARKET INSTITUTE FOR STAND 2001 K STREET NW STE 725 WASHINGTON DC 20006 881980058 ASSOCIATION DC 501(C)(6) FIA true FIA SERVICES UK LTD 2001 K STREET NW STE 725 WASHINGTON DC 20006 EDUCATIONAL UK FIA FOREIGN 0 0 true FIA SERVICES ASIA PTE LTD 2001 K STREET NW STE 725 WASHINGTON DC 20006 EDUCATIONAL CH FIA FOREIGN 0 0 true FUTURE FORWARD HOLDINGS LLC 2001 K STREET NW STE 725 WASHINGTON DC 20006 871209550 HOLDING COMPANY DC FIA C CORP 0 0 false false false false false false false false false false false true true false true true true false false false INSTITUTE FOR FINANCIAL MARKETS N 41676 COST INSTITUTE FOR FINANCIAL MARKETS O 47256 COST DERIVATIVES MARKET INST FOR STD INC L 260328 COST SCHEDULE R, PART II, LINE 2: NAME : DERIVATIVES MARKET INSTITUTE FOR STARDARDS, INC. EIN : 88-1980058 ADDRESS: 2001 K STREET, NW, STE 725 WASHINGTON, DC 20006.