Wholesale Markets Brokers' Association

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The Wholesale Markets Brokers' Association (WMBA) is a trade association representing wholesale market brokers and venues in the financial industry. Founded in July 2009, the organization aims to promote industry standards and advocate for its members' interests
== History ==
The WMBA's origins can be traced back to the Foreign Exchange and Deposit Brokers' Association (FEDBA), established over 50 years ago. In 2017, the organization rebranded as the European Venues and Intermediaries Association (EVIA) to reflect changes in the industry brought about by the implementation of the Markets in Financial Instruments Directive II (MiFID II).
===Sister Organization===
The European Venues and Intermediaries Association (EVIA) and the London Energy Brokers' Association (LEBA) share a close affiliation, often described as sister associations. LEBA, formed in 2003, is affiliated with EVIA (previously known as the Wholesale Markets Brokers' Association) and the two organizations offer joint resources to their members, particularly in regulatory compliance. While EVIA focuses on promoting and enhancing the value of Wholesale Market Venues, LEBA concentrates specifically on energy brokers in London. The organizations share leadership, with Alexander James McDonald serving as CEO for both entities. They also collaborate on data and indices, with LEBA providing indices for various energy markets that complement EVIA's broader market focus. The associations maintain joint operational committees and cross-reference each other on their websites, further emphasizing their close relationship. This partnership allows EVIA and LEBA to leverage their respective strengths and provide comprehensive support to their members across various aspects of wholesale markets and energy broking.
== Role and Functions ==
The WMBA/EVIA serves several key functions:
* Promoting industry standards and best practices
* Advocating for members' interests with regulators and policymakers
* Providing a common voice for the wholesale markets broking industry
* Facilitating communication between members and stakeholders
Members of the association typically include interdealer brokers, organized trading facilities (OTFs), and multilateral trading facilities (MTFs).
== Data Services ==
WMBA Limited, incorporated in 2008, administers the data business of the association. It has played a significant role in the governance of financial benchmarks, including:
* Administration of the Sterling Overnight Index Average (SONIA) until April 2018
* Development and administration of indices across financial and non-financial instruments
* Provision of data for various markets, including GCC, MENA, and emerging markets
== Regional Associations ==
In addition to its European operations, the WMBA has regional affiliates, such as the Wholesale Markets Brokers' Association Americas Inc., formed in July 2009 to represent the interests of interdealer brokers in the Americas.
==Key People==
*Alex McDonald - CEO - McDonald has been the CEO of EVIA since 2009. He has over 20 years of experience in banking and fund management, including roles as a macro trader and portfolio manager at various financial institutions.
*Mark Thomson - Current Chairman - Thomson from Mariana UFP LLP is the current chairman of EVIA. The association operates with a rolling chairmanship, typically with a one-year term. Thomsom has a background in exotic options trading and risk management.
== References ==
Category:Interdealer Brokers
Category:Trade Associations
Category:Financial Services Organizations
Category:Energy Industry
Category;;Wholesale Markets Brokers' Association