Futures standards body seen as first step to utility

FIA project could usher in new hub to connect trading parties and guard against derivatives logjams, experts say

An industry utility to ease futures trading and clearing bottlenecks inched closer this week with an initiative from a trade body to set standards for processing listed derivatives, say senior figures in derivatives clearing.

The Futures Industry Association issued on November 2 a blueprint for overhauling the way that firms trade futures and options. As part of its proposals, the FIA recommends creating an independent standards body that would develop and oversee a universal set of procedures