nyuuzyou/wikis huggingface dataset:
Exchange of Futures for Futures

Exchange of Futures for Futures (EFF) involves a rule that would allow traders to easily move their contract positions from one marketplace to another. In other words, someone could privately negotiate the sale of a futures contract on one exchange, such as ELX, and swap that position by buying or selling the same product at another exchange, such as the CME Group. Since ELX clears through the Options Clearing Corporation (OCC), the trader would be closing a position at the OCC and establishing the same position at the CME Group. 
== Recent News ==
There has been a lot of back and forth regarding Exchange of Future for Futures transactions between the Electronic Liquidity Exchange and the CME Group in the Treasury markets. The Commodity Futures Trading Commission approved ELX's request to offer EFFs, in October of 2009, saying that the transactions did not violate the Commodity Exchange Act. However, even with the CFTC approval, the CME Group issued a statement saying they would not recognize EFF transactions. The CME Group justified their statement on the grounds that EFFs are not supported by CFTC precedent and are prohibited under CFTC regulations and the Commodity Exchange Act. 
In August of 2010, the Commodity Futures Trading Commission issued a letter to the CME Group. The CFTC stated that EFF transactions are not wash sales and in fact, are consistent with Commission precedent. Thus, Exchange of Futures for Futures are not prohibited by the CEA or Commission regulations. Further, the CFTC has ordered an investigation into the CME's actions and if they are consistent with anti-trust considerations. 
In light of the CFTC ruling in August, the CME Group said the CFTC's letter still does not change the rules, which prohibit EFF's and that under the Commodity Exchange Act, they will continue to prohibit these types of transactions. 
== Resources ==
*Prohibition of Exchange of Futures for Futures (EFF) Transactions - PDF
== References ==
Category:Market Terms
Category:Definitions
Category:MarketsWiki Page of the Day
Exchange of Futures for Swaps

An exchange of futures for swaps (EFS) transaction is a type of exchange related privately negotiated and simultaneous trade of futures for an over-the-counter ("OTC") swaps position.
It is similar to ""exchange for physicals," "exchange for options," and is sometimes called "exchange for risk."
An EFP transaction involves a privately negotiated and simultaneous exchange of a futures position for a corresponding position in the underlying physical.
An EFS works similarly to an exchange of futures for physicals (EFP), except that an EFS allows market participants to exchange a position in a futures contract on a commodity for a cash-settled position instead of the physical commodity. 
An EFS also gives market participants the ability to liquidate a swaps position in a market that may have limited liquidity, for example the over-the-counter (OTC) swaps market. 
==Regulation==
In May of 2013, the U.S. Commodity Futures Trading Commission initiated an investigation into EFS with a “special call” asking market participants to provide documents that their EFS transactions were legal. The CFTC requested information on EFSs executed after the passage of the Dodd-Frank financial reform law in 2010 until this year.
== References ==
Category:Definitions
Category:Swaps
Category:Futures
Executing broker

The executing broker is the registered billing entity, member firm or floor broker to whom an order is transmitted. 
An executing broker can be a pit broker or a prime broker who gives up the trade to another firm, for example. 
The Minneapolis Grain Exchange (MGEX) suggests on its Web site that an individual looking to conduct business with a broker or brokerage firm should thoroughly research potential players before making an investment. All potential firms should be registered with the National Futures Association (NFA), which oversees more than 4,000 firms and 5,000 associates. 
== Resources ==
* NFA Site
== References ==
Category:Definitions
Execution LLC

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Execution LLC is the agency-only brokerage arm of London based Execution Limited, a full-service agency broker. Execution LLC is a member of FINRA and SIPC. 
Execution LLC announced the launch of an options trading platform on December 14, 2009. This new offering was led by John Margolis, who joined Execution in May 2009 from Thomson Financial. 
== References ==
Category:Agency Brokers
Execution Ltd

Execution Ltd is a full-service agency broker providing clients with execution, sales, trading, research and corporate access. 
Execution services many of the world’s largest investing institutions, including mutual funds, pension funds, insurance companies and hedge funds. It provides access to liquidity providers through personal relationships and expertise.
== History ==
== Products and Services ==
== Key People ==
*Nick Finegold, Executive Chairman, Board of Directors
*Gary Cunningham, CEO, Execution LLC, Management
== References ==
Category:Brokers
Category:Agency Brokers
Execution Management System

Execution management systems (EMSs) are software applications designed to provide access to trading venues. They contain an array of broker algorithms, market data and technology that enables traders to execute and analyze their trades globally. EMSs today offer execution capabilities across asset classes, and many have been fully integrated with Order Management Systems.
Historically brokers operated their own single dealer EMS platforms, but as they've become multi-broker most brokers have divested themselves of their EMS platforms. Today they are typically either independent (TORA, FlexTrade, TradingScreen, Eze) or owned by market data vendors (Thomson Reuters REDI, Bloomberg EMSX, Factset's Portware), though some brokers like UBS with PIN, Instinet with Newport, ITG with Triton and JP Morgan with Neovest continue to own and operate their own EMSs.
== References ==
Executive compensation

Executive compensation is the payment given to top executives of business corporations. It includes basic salary, bonuses, shares, options and other company benefits. The board of directors of the company is ultimately responsible for determining executives' pay levels. However, most corporate boards use consultants to advise them on how much to pay top executives. In fiscal 2007, 819 companies in the Fortune 1,000 index used compensation consultants, up from 677 in fiscal 2006. 
The issue of CEO compensation has come to the forefront in the post-Enron era. Since 1980, executive pay at big corporations has increased more than sixfold. The average CEO of an S&P 500 company made $15.06 million in 2006, according to the Corporate Library, an independent research firm. 
The House Committee on Oversight and Government Reform held hearings on the issue. “Reports of astronomical payouts to corporate CEOs have led many to question the fairness and effectiveness of the system for setting executive pay,” said Chairman Henry Waxman (D-CA).
On April 17, 2012, executive compensation and say-on-pay rules came into the spotlight when Citigroup shareholders voted to reject the bank’s executive compensation package at the annual meeting, leaving Citigroup with the option to either acknowledge the shareholder recommendation through future decision making, or to ignore the advisory vote entirely.
== References ==
Category:Definitions
Category:Compensation
Exempt commercial market

An exempt commercial market (ECM) may trade exempt commodities on electronic trading facilities between eligible commercial entities without being subject to most CFTC regulation. Such a market must satisfy the conditions for the exemption put forth in Sections 2(h)(3)-(5) of the Commodity Exchange Act (CEA), 7 USC 2(h)(3)-(5), including a requirement that the exempt commercial market notify the Commodity Futures Trading Commission (CFTC). 
A facility that elects to operate as an ECM must give notice to the CFTC and comply with certain informational, recordkeeping, and other requirements. ECMs are prohibited from claiming that the facility is registered with, or recognized by, the Commission.
== References ==
Category: Definitions
Exercise price

Exercise price (also known as strike price) is the specified price on an option contract at which the contract may be exercised. In other words, a call option buyer can buy the underlier or a put option buyer can sell the underlier. 
The buyer's profit from exercising the option is the amount by which the spot price exceeds the exercise price in the case of a call, or the amount by which the exercise price exceeds the spot price in the case of a put. Generally, the smaller the difference between spot and exercise price, the higher the option premium.
Category:Options
Exotic options

An exotic option is a type of option that differs from the typical American or European option ("plain vanilla" options) in the underlying asset or when the investor receives a certain payoff. It is more complex than an exchange-traded option and generally trades over the counter. The exotic options often involves special features and payoff structures that are used to meet specific needs of investors. In situations where investors require an all-or-nothing hedge, where investors need to hedge its exchange rate exposure, and many other situations, exotic options could solve the problem for the investors. 
Types of exotic options include: barrier options, Asian options, binary options and compound options, among others.
==Exotic options type==
*Binary options
*Barrier options
== References ==
Expiration

1) The date on which an option, right or warrant expires and becomes worthless if not exercised. For stock options, this is the third Saturday of the month in which the contract expires, or the third Thursday of the month if the third Friday is a holiday. Options on equity indexes can vary, e.g., SPX expires on the third Friday, but options on the VIX expires on the third Thursday.
2) The date on which a futures contract expires; if the futures contract is not offset prior to expiration, delivery (either by way of cash settlement or physical settlement depending on contract specifications) of the commodity or financial instrument ensues. Expiration dates vary by the particular futures contract.
Category:Definitions
Category:Trading Terms
Category:Options
Explosive Options

Explosive Options is an options newsletter service that is managed by Bob Lang. Explosive Options primarily trades momentum strategies using a variety of technical analysis techniques in an equity selection, which are then acted upon in the U.S. options markets.
 
== History ==
Explosive Options was founded in May of 2011.
== Products and Services ==
Explosive Options offers an options newsletter service.
== Key People ==
*Bob Lang, founder
== References ==
F. Helmut Weymar

F. Helmut Weymar is a member of the advisory board for Witherspoon Asset Managment. He is most well known for being the co-founder, former chairman and chief executive officer of Commodities Corp.
He is a founding member, inducted in 2005, of the Futures Industry Association's Futures Hall of Fame, which was established in 2005 to commemorate outstanding contributions to the global futures and options community.
== Biography ==
Weymar got his start as manager of commodity economics at Nabisco, advising how to buy cocoa and other commodities.After four years there, he went off to found Commodities Corp. in 1969. It achieved success by investing its capital in the futures markets, and by being one of the first firms to apply complex math techniques to trading, a practice that is still used today. He has also been on the board and executive committee of National Futures Association and of the Futures Industry Association. 
== Education ==
Weymar graduated from MIT in 1958 with degrees in business and engineering administration. He also received his Ph.D. in economics in 1965. His doctoral dissertation, "Dynamics of the World Cocoa Market," was published by MIT press in 1968 and earned the American Agricultural Economic Association’s award for the best published research that year.
== References ==
Category:Futures Hall of Fame Members
FAST protocol

FAST was developed by the FIX Protocol Limited organization to standardize market data and deliver optimized performance for the exchange of electronic financial information. Built around a data compression algorithm, it significantly reduces bandwidth requirements and latency between sender and receiver when correctly implemented. FAST works particularly well at improving performance during periods of peak message rates.
FAST Protocol stands for Fast Active Scalable Transmission control. It was first developed by the California Institute of Technology.
Some of the Exchanges that utilize FAST are:
*NYSE Archapelago
*Chicago Mercantile Exchange
*OMX
*Eurex
*BATS
*ICAP
== Resources ==
*More Information on FAST Protocol
== References ==
 
Category:Definitions
Category:FIX
Category:FIX API
FCM360

FCM360 is a technology services firm, specializing in infrastructure hosting and market connectivity. 
The firm offers turnkey data center and IT solutions for the trading and exchange community. This includes managed hosting, proximity hosting, exchange connectivity, dedicated lines and turnkey managed VOIP telecom products. 
== History ==
== Products and Services ==
FCM360’s Easy Trader Pro and Easy Trader Light - are turnkey server products that provide low-cost solutions to proximity hosting reaching most major international exchanges. 
The company offers energy and commodities trading dashboards and weather data for traders and commercial hedgers. 
The firm offers Weather Insight's Weather Dashboard, Gas Trader Dashboard and Agricultural Dashboard, which offers traders data-feeds which supply key government weather forecasts and other fundamental data. 
Also included is 24-hour access to a voice-assisted hybrid broking desk for all major US futures and high-touch floor broker execution. Clients also receive real-time NYMEX / COMEX / CME market data and the ability to run analytics and charting against European OTC trade data.
== Key People ==
*Jubin Pejman, founder and managing director
== References ==
Category:Bios - Executives
FDIC Truth in Savings Act

The Truth in Savings Act was enacted on Dec. 19, 1991, as Subtitle F of the Federal Deposit Insurance Corporation Improvement Act of 1991. Regulation DD, which implements the TISA, became effective on June 21, 1993 and enables consumers to make better informed decisions about accounts at depository institutions through the use of uniform disclosures. 
== References ==
Category:Definitions
Category:Legislation
FFastFill plc

FFastFill is a a former publicly held company that designed and delivered front-, middle- and back-office services to the global electronic trading community. They were listed at the London Stock Exchange and the company was registered in England and Wales (company number 3978346). 
FFastFill provided automated services for retail and institutional firms worldwide enabling their clients to manage trading and financial risk in real time. Their experience included exchange-traded derivatives, multi-asset clearing and trading functionality for clients with equity, fixed income, foreign exchange, CFD and OTC needs. 
On February 15, 2013, FFastfill was acquired by ION, a Dublin-based provider of multi-asset class trading software, with access to more than 80 electronic markets.
== History ==
FFastFill was founded to provide a software platform for electronic trading and risk management for derivative products. In 2000 it was listed on the Alternative Investment Market of the London Stock Exchange. More recently, the company became an Application Services provider in the sector.
Major milestones for FfastFill have included producing its first software product, a PC-based trading and risk-management system in 1999. In 2000, the company produced a client-server system for trading and risk management of derivatives. In 2003, FfastFill's applications service went live.
In June 2010, Ffastfill announced connectivity to the Singapore Mercantile Exchange, which has plans to launch in August 2010. 
In late November 2010, FFastFill announced that they had built a platform for Newedge buy-side customers to connect to the Shanghai Futures Exchange, the Dalian Commodities Exchange, the Zhengzhou Commodities Exchange and the China Financial Futures Exchange. This is one of the first platforms that allows FFastFill customers to trade Chinese futures from a single trading screen. 
On November 22, 2011, the firm announced the acquisition of WTD Consulting Inc. for up to $12 million. The deal was expected to help Ffastfill finish the customization of its back-office product called Eclipse in the US market. WTD has extensive experience in the post-trade processing sector for exchange traded derivatives and over-the-counter markets. 
== Ryan McElvogue John Lothian News Interview ==
Ryan McElvogue of FFastFill Discusses Dodd-Frank Related Risk Management
Ryan McElvogue was managing director of FFastFill, the U.S. subsidiary of FFastFill Plc., a London-based provider of front-, middle- and back-office solutions for the global electronic trading community. In August 2012, FFastfill announced that Orbit Risk, its clearing member risk management suite, is fully conformant with certain Dodd-Frank related CFTC regulations scheduled to take effect October 1, 2012. McElvogue spoke with former John Lothian News Editor-at-Large Doug Ashburn about Orbit Risk, Dodd-Frank risk management and readiness, and operational versus technical implementation issues. Published September 21, 2012. Watch at JohnLothianNews.com
== References ==
Category:Independent Software Vendors
Category:FFastFill
Category:MarketsWiki Page of the Day
FGMK Fund Dynamics

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Fund Dynamics is a division of FGMK, the ninth largest accounting firm in Chicago, providing auditing, tax, advisory and other specialty services. 
Fund Dynamics provides fund account and administration services for hedge fund managers and their clients.
 
== History ==
Fund Dynamics was founded in 2006 as a division of Price Holdings, Inc., a Chicago-based brokerage and asset management company. In 2014, former Price Group CFO Allen Goodman, co-founder of Fund Dynamics along with Walter Thomas (Tom) Price, III, acquired the fund administration arm. Later in 2014, Goodman joined forces with FGMK and rebranded Fund Dynamics under the FGMK umbrella.
== Products and Services ==
* Customizable statements
* Net asset value preparation
* Handling of complex fee structures
* Performance reporting & track records
* Risk analysis
* Sector reports
* Email distribution
== Key People ==
*Allen Goodman, Managing Director
*David Shane, Partner-in-charge, FGMK Financial Services
== References ==
Category:Fund Administration Companies
Category:Price Holdings
FIA Asia

In 2007, FIA Asia was launched and is supported by the Futures Industry Association in Washington. The division aims to provide useful services for its Asian members and the Asian futures industry in general. FIA Asia was merged into a single organization along with FIA and FIA Europe on January 8, 2016. The newly merged organization serves both the global and regional needs of the futures, options and cleared swaps industries. Bill Herder continues to serve as the head of Asia operations.
FIA Asia was based in Singapore and led by executive director Bill Herder.
Its mission: To service its members by providing timely information about Asian-listed futures and option markets; to provide members and the industry in general with educational opportunities about listed derivatives products; to promote standardization and best practices among markets to enhance the efficiency and resiliency of the markets to benefit all participants; and to provide industry input to market officials on key issues. Benefits of membership will be guided by the membership itself and will focus on the needs and priorities of the members. 
In July 2007, FIA Asia hired Nick Ronalds as senior advisor. Ronalds focuses on the organization's activities in China and led the organization overall until February 2012, when Bill Herder was hired as executive director.
In June of 2013, the FIA announced an agreement in principle with the Futures and Options Association to form an affiliation of the two organizations under a new structure called FIA Global. The combined advocacy group also includes FIA Asia. 
== Key People ==
*Bill Herder, Executive Director
===Asia Advisory Board===
*Chris Bainbridge, Chairman, SG Securities (HK) Ltd
*James Busby, Goldman Sachs (Asia) Securities Ltd
*Richard Clairmont, ABN AMRO Clearing Tokyo Co.
*Dheeraj Daswani, Citigroup Global Markets Singapore Pte. Ltd.
*Jonathan Finney, Citadel Securities
*Bradley Fraser, Barclays Bank Plc
*Victor Gusak, UBS
*John Ho, Standard Chartered Bank
*Yanny Leung, Morgan Stanley
*Matthew Lewin, Bank of America Merrill Lynch (Asia Pacific) Ltd
*David Low, DBS Bank Ltd
*David Martin, J.P. Morgan
*Rama Pillai, SGX Group
*Kevin Rideout, Hong Kong Exchanges and Clearing Ltd
*Jeremy Steen, HSBC
*Fiona Tramontana, ASX Limited
== References ==
Category:Industry Associations
FIA Europe

__NOTOC__
FIA Europe, previously known as the Futures and Options Association (FOA), was merged along with FIA and FIA Asia into a single organization known simply as "FIA" on January 8, 2016. The newly merged organization serves both the global and regional needs of the futures, options and cleared swaps industries. 
FOA was rebranded as FIA Europe in March of 2014 as part of its affiliation with the FIA. 
== History ==
The London-based FOA was formed in 1993 following an initiative by the Bank of England and a number of futures industry participants to consolidate the fragmented landscape of trade associations.
A formation committee started work in October 1993 with 100 founder members under the chairmanship of Sir Brian Williamson, a former chairman of Liffe, appointing Michael Jenkins as chairman. The new organization aimed to combine the membership and aims of organizations including the Commodities Traders Group, the London Markets Action Group, the UK Managed Futures Association, the Clearing & Settlement Association and the Joint Exchanges Committee.
The FOA initiated the establishment of MiFID Connect, the EU/US Coalition on Financial Regulation and the Associate Parliamentary Group on Wholesale Financial Markets & Services and was a founder member of the European Parliamentary Financial Services Forum.
The globalization of the derivatives business saw the FOA establish closer ties with the Futures Industry Association (FIA), formalized in September 2007, with an agreement to form joint committees and reciprocal access to board meetings.
In March of 2011, the FOA and the FIA set up a task force to examine the possibility of closer co-operation, including a possible merger of the two associations. 
== Membership ==
The main role of FOA was to represent the interests of its members in the public and regulatory domain and deliver a wide range of support services to the membership. The organization: 
*Served as a constructive liaison with regulators, government and other political and trade bodies nationally, throughout Europe and on an international level. (In Brussels, the FOA was a founding member of the European Parliamentary Financial Services Forum, and is an active member of the EPFSF Advisory Committee. In the UK, the FOA initiated the establishment of an Associate Parliamentary Group on Wholesale Financial Markets and Services, which was registered at Westminster in December 2002); 
*Helped raise public awareness and understanding of the futures and options industry and; 
*Produced standardized industry documentation, publications and guidelines. 
In mid-2008, the FOA recruited consultancy Oxera to probe plans by Intercontinental Exchange (ICE) and Liffe to establish clearinghouses in Europe as part of a larger investigation into the exchange clearing business in the region.
== References ==
Category:Industry Associations
Category:FOA
Category: MarketsWiki Page of the Day
Category:Industry Associations
Category:FIA