The Americas

CURRENT PROJECTS

Nicaragua DR-CAFTA Implementation
For USAID, FMI is implementing a trade and investment promotion project to assist Nicaragua in taking advantage of the full range of opportunities offered by DR-CAFTA. FMI will provide technical assistance to the Government of Nicaragua to harmonize its legal and regulatory regime with its treaty obligations, support investment, and strengthen its institutional capacity. The FMI team will also work with the Nicaraguan private sector to benefit fully from the treaty’s provisions and design and implement strategies for enhanced competitiveness and productivity, economic diversification, and job creation. The Project will also facilitate dialogue between the Nicaraguan private and public sectors to build an advocacy platform and establish priorities for economic development. Period of Performance: 2006-2008.

For more information on the DR-CAFTA Implementation Project go to www.procafta.net.

Financial Technologies (India) Ltd. and
Multi Commodity Exchange of India Ltd.
FMI has been retained by Financial Technologies (India) Ltd. (FTIL) and Multi Commodity Exchange of India Ltd. (MCX) to assist in development and expansion operations.   FTIL, flagship company of Financial Technologies Group, is a US $3.2 billion company and a global leader in providing technology solutions and domain expertise for digital transactions and financial markets across all asset classes including equity, commodities, currency, and debt.  FTIL has successfully created strong and innovative brands of intellectual property centric products and services for global financial markets and trading communities delivering real, measurable value for its customers and stakeholders.  MCX, an FTIL venture, is the leading Indian commodity futures exchange, with 72% market share.  Other FTIL ventures include:  Dubai Gold and Commodities Exchange (DGCX); IBS Forex Limited, National Spot Exchange Limited (NSEL); Safal National Exchange (SNX); Mauritius Global Board of Trade (GBOT); National Bulk Handling Corporation Limited (NBHC); Tickerplant Infovending Limited; Atom Technologies Limited; Riskraft Consulting Limited; and Financial Technologies Middle East (FTME).

For information on FTIL, go to www.ftindia.com, and for information on MCX, go to www.mcxindia.com.

Risk Management Services
FMI provides education and training in the areas of risk management, securities and derivative products, strategic country analysis, and financial engineering. FMI has developed customized courses on derivatives (including products and markets, risk management strategies, regulation and taxation, accounting standards and practices, valuation, and market risk) for financial institutions, banks, accounting firms, professional associations, and corporations. Clients include: Chase Manhattan Bank, J.P. Morgan, Bankers Trust, Moscow Inter-bank Currency Exchange, Canadian Imperial Bank of Commerce/Wood Gundy, Multi Commodity Exchange of India, Dow Chemical, Treasury Management Association, and TIAA-CREF Pension Fund.

PAST PROJECTS

Alternate Approaches to International Legislative Strengthening
For USAID, FMI prepared a study analyzing USAID’s approach to legislative strengthening, comparing and contrasting it with the parliamentary development programs being implemented by other international donor agencies. FMI in particular examined special issue approaches that focus on a specific topic typically related to economic development, such as poverty reduction or gender based budgeting. The study suggests that there are areas where USAID legislative strengthening activities could be specifically linked to the Agency’s substantive economic development objectives.

For a copy of the Alternate Approaches to International Legislative Strengthening study please see Publications.

World Bank IOSCO Securities Laws Comparative Analysis
For the World Bank, FMI worked with the securities markets regulators in a number of developing countries to analyze each nation’s securities laws. FMI analyzed these securities laws for their compliance with the IOSCO Best Practices Principles for Securities Markets (International Organization of Securities Commissioners). Period of Performance: 2000

USAID Pension Reform
FMI assisted USAID in determining the best strategy for technical assistance in pension reform around the world. After analyzing previous work on pension reform conducted by USAID, OECD, and the World Bank, FMI determined that the focus of USAID pension reform efforts should be on defining and promoting “Best Practices” in implementing pension reform and in developing concrete, practical recommendations for systems improvements, and guides to asset management. FMI developed a guidebook for pension system issues. Period of Performance: 1999-2000

World Bank, International Economics Department
For the World Bank, FMI prepared a position paper identifying the crucial elements of securities exchange development in emerging and transition economies, defining the steps necessary to structure a functioning exchange which would provide vital macroeconomic benefits to countries and regions. Period of Performance: 1996.

Jamaica Economic Analysis and Country Strategy
For USAID, FMI prepared an analysis of the Jamaican economy and recommended a strategy for support of economic growth through 2000. The key economic issues reviewed included policy implementation, investment incentives, poverty alleviation, and productivity enhancement. The analysis surveyed potential growth sectors (agribusiness, technology, tourism, and light manufacturing) and provided a description of new project activity to expand Jamaica's exports through improvement of the trade and investment framework. Period of Performance: 1995.

Jamaica Securities Market Project Design
FMI designed a trade and investment project for USAID/Jamaica, and developed a project paper which focused on providing technical assistance to the newly created Jamaican Securities Commission in defining rules and regulations, to the private Jamaican Stock market Association in self-regulation and enforcement procedures, and to the Central Bank to increase supervision of mutual funds, insurance companies, and other capital markets actors. FMI also designed a technical assistance package for the Jamaican Fair Trade Commission, focusing on enhancing anti-monopoly provisions of commercial law. Period of Performance: 1994.