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I do not believe that anybody, least of all myself, ever
believed that some 21 years after arranging an informal
meeting at the Hyatt Hotel in Johannesburg in 1996 to
informally discuss the establishment and operations of a
commodity futures exchange, that in 2017 an association
that was conceived at a follow-up meeting in Budapest
the next year and formalised a year later would hold its
20th Annual Conference in the very place of its birth,
Buenos Aires.
It has been my distinct privilege to not only have been
associated with the AFM since its inception, but also to have
attended every annual conference that has been held. This
has taken me to 13 different countries (not including my
home country of South Africa) and has allowed me, and
on many occasions, also my wife Lynette to experience the
culture and sights of so many diverse places. But, more
importantly, we have met a wide range of stand-out people
who for ever will be etched in our memories. I wish I could
mention them all by name, but I know I will miss some and
I really would not want that. To the many people who have
graced our lives as a result of the AFM, I salute you and
thank you for enriching our lives.
In an age where technology plays such a dominant role
in our daily lives, both professionally and personally, it is
perhaps rare to stop a while and dwell on what I consider
to be the great strength of the AFM – the men and woman
who have been a part of the association and who have
contributed to its longevity and success. I recall very well
when we were discussing the formation of an association
way back in 1997 and 1998, we asked ourselves the
question, “How could forming an association benefit us
as smaller exchanges and associated industries?” There
was a unanimous answer that I believe has been one of
the strengths of the association and it encompassed
much more than just the workings of an exchange. It
was agreed that as an association we need not only
to assist each other in understanding the workings of
an exchange, but also to be aware and appreciate the
people, culture and essence of the countries in which the
exchanges operate. This has led to an attempt to always
take time out in the country in which we are meeting to
hold the Annual General Meeting to explore something of
the environment and culture of the country and to get to
know the people involved in the exchange. It is no wonder
and with good reason that the AFM is so often referred
to as a family.
For those sceptics who might just question whether
this emphasis on the human side of things can impact
the business side, let me mention one small incidence.
I was privileged to have been seated at an AFM dinner
alongside a veritable giant of the industry, the late Bob
Ray – a truly gracious man and an inspiration to many.
We hit it off and Bob remarked, “We need to do some
business together.” A few years later, thanks to the work
of Chris Sturgess and others, the South African market
started trading CBOT/CME cash settled Corn Futures – a
clear reminder that much can be, and has been, achieved
through the relationships built within the AFM.
I have been privileged to see, experience and learn from
the countries that we, as the AFM, have visited. Here is a
brief glimpse of some of those amazing memories:
• Visiting Moscow in 2003 and walking across Red
Square in the freezing cold (perhaps the coldest I have
ever been in my life).
• Having Gala Dinners in the wonderful city of Budapest –
on a sightseeing cruise along the Danube, in the Houses
Of Parliament and in the famous old world charm of
Gerbaud Tea Room (desserts and cakes to die for!)
• Visiting the Bran Castle, well known as Dracula Castle,
outside Bucharest in Romania. Was it scary? No, but
the bus ride getting there certainly was!
• Engaging in karaoke on one of the top floors of Building
101 in Taipei in 2011 – what a great evening. I will
never forget the view from the gents’ toilet – certainly
a loo with a view!
• Who could ever forget the river cruise in Bangkok in
2008 which culminated in a traditional dinner on the
banks of the Chao Phraya River with the exquisite
dancing, magical lights and delicious food?
• Cruising the canals of Amsterdam and enjoying Dutch
delicacies along the way.
• Eating a traditional cultural dinner in the Ukraine
with singing, dancing, copious amounts of meat and
probably the most Vodka I have ever seen consumed in
The Association of Futures Markets
- A Glimpse through the eyes of Rod Gravelet-Blondin
