On September 11, FIA Japan organized two major events to celebrate the 30th Anniversary of the establishment of Futures Industry Association Japan. FIA Japan first hosted a seminar featuring CFTC Chairman J. Christopher Giancarlo, which was followed by a reception at the prestigious Meiji Kinenkan in central Tokyo. In addition to our members, many key figures from our industry attended the events, including FSA Commissioner Endo, METI Director General Fujiki, high ranking officials from other regulatory agencies, exchange CEOs and representative directors of financial institutions.
CFTC Chairman Giancarlo delivered a keynote speech on recent developments that affect the derivatives industry, which was well received by over 130 participants. His “1.1.1” new policy (i.e: 1 set of rules for 1 jurisdiction by 1 regulator) marks a shift in past US regulations with cross-border implications. A full transcript of his remarks can be found on the CFTC website. Following the speech, participants were given the opportunity to ask questions to the Chairman directly in a Q&A session.
At the reception that followed, FSA Commissioner Endo delivered a keynote speech in which he explained his new priorities for the Agency. Mr. Endo also recognized the valuable contributions that have been made by FIA Japan to the overall financial industry in Japan. A recent interview of Mr. Endo can be found on the FIA Japan website.
FIA Bill Herder also shared remarks and presented a commemorative gift to FIA Japan on behalf of FIA President & CEO Walt Lukken. Mr. Lukken subsequently paid tribute to FIA Japan via the FIA website the following day.
The reception was then kicked-off with a traditional Kagamibiraki (breaking open a barrel of Sake for good fortune) which was performed in front of the guests by CFTC Chairman, FSA Commissioner, CEOs of the three Japanese exchanges (JPX, TFX and TOCOM) and FIA/FIAJ officers, and Mr. Jesper Koll did the honor of bringing everyone to a positive and Japan-bullish toast. The 110+ guests and members of FIA Japan who gathered for this special occasion enjoyed this unique Sake, drinks and food within the reception room and in the beautiful gardens of Meiji Kinenkan, with a traditional Kotomusic playing live in the background.
FIA Japan Chairman Yasuo Mogi made the following comments: “It was our honor and privilege to organize our 30th anniversary at Meiji Kinenkan where we held the first general meeting for the establishment of the Japan Chapter of Futures Industry Association -- the legacy organization of Futures Industry Association Japan (FIA Japan) -- in 1988. With more than 60 Japanese and non-Japanese members, FIA Japan is considered unique as Japan’s only industry association crossing over the financial securities and the commodity derivatives industry that are separated due to their respective applicable laws and regulatory systems. I am pleased to see our contributions and continuous support for the development of the markets and industry during the past 30 years, including vital advisory activities towards initiatives such as the internationalization of the markets, customer protection systems, market integrity, regulatory frameworks, and so on. We will continue to face more challenges in the coming years to further the development of the markets and industry. Last but not least, I would like to express my deepest appreciation for the support extended to our Association by the regulatory bodies, exchanges, the members and friends of FIA and FIA Japan, as well as to all the parties that have been supporting and collaborating with FIA Japan in the past 30 years.”
About FIA Japan:
Futures Industry Association Japan (FIA Japan) was established in 1988 as a volunteer-based association, with the participation of professionals from both the Japanese and foreign futures industry, with the encouragement of the Futures Industry Association based in Washington DC (FIA). FIA Japan was reorganized as an independent General Incorporated Association under Japanese law in 2010 to help it succeed with its mission. FIA Japan is the only organization in Japan with a membership drawn from the entire cross section of the futures industry. Our mission is to encourage the growth and success of the Japanese financial market-place and its development as a regional and global financial center. For example, FIA Japan has been involved with the industry on the High-Speed Trading regulations that came into effect in Japan on April 1, 2018, which affect U.S. and other foreign firms trading on the Japanese markets. With the support of our members, we will continue to endeavor towards the further development of the Japanese financial markets.