About NIBA
NIBA is the united voice for derivatives professionals.
Established in 1991 as a non-profit association, NIBA helps members find greater success in the derivatives industry through education and networking while providing members with a voice in regulatory and industry matters. NIBA has grown to include Introducing Brokers, Commodity Trading Advisors, Associated Persons, and Futures Commission Merchants, as well as other participants in the futures, options and swaps markets. We are the association that has earned the respect of the industry for our members.
Our Membership
NIBA supports the spectrum of futures and derivatives industry participants.
Introducing Brokers
We serve Introducing Brokers by providing the education and support necessary for continued growth and regulatory compliance, along with a unified, community voice for registered professionals.
Commodity Trading Advisors
We serve commodity trading advisors (CTAs), individuals, and firms advising customers on the buying and selling of futures contracts or options on futures, or certain foreign exchange contracts.
Commodity Pool Operators
We serve commodity pool operators (CPOs) whose business utilizes combined funds for the trading of futures contracts and who requires a voice and representation within the futures industry.
Associated Persons
We serve those associated persons (APs) who work with broker dealers, such as partners, officers, directors, or branch managers of broker dealers, providing both ongoing educational and networking opportunities.
Other Member Participants
NIBA supports the spectrum of futures and derivatives industry participants, including exchanges, futures commission merchants (FCMs) and service providers.
Exchanges
Supporting the exchange community that underpins the derivatives markets our members operate within.
FCMs
Futures Commission Merchants who clear and carry customer accounts for introducing brokers.
Service Providers
Industry vendors and service firms with a unique understanding of the futures and derivatives industry.
What We've Accomplished
During our more than 30 years, NIBA has accomplished many objectives on behalf of its members.
- Active representation during the MFG and PFG failures, including gaining the release of commission runs to brokers.
- Lowering of NFA dues from $1,000 annually to $750 for IBs and CTAs.
- Opposing minimum capital requirements for CTAs.
- Clarifying "netting" requirements in relationship to market data fees.
- Supporting greater certainty of regulating forex transactions.
- Requiring registration for offerers of hedge-to-arrive contracts.
- Testifying before U.S. Congress on issues ranging from proposed Farm Bill amendments to CFTC reauthorization and ethics training requirements for registrants.
Through the Years
The NIBA identity has evolved over 35 years alongside the association and its members.
NIBA Timeline
More than three decades of advocacy, education, and community for derivatives professionals.
- Sep1991
NIBA Officially Launches
The NIBA is officially formed in July of 1991 to represent Introducing Brokers. Chairman, Melinda Schramm: “We think it’s long past due time that a segment of the industry with 1,800 members has an official voice.” OFFICIAL PRESS RELEASE
- Jul1992
NIBA Partners with USDA
The NIBA partners with the USDA to help keep futures industry participants better informed through shared agricultural markets reports.
- Jun1994
3rd Annual NIBA Conference
The 3rd Annual NIBA Conference is held at the Hyatt Recency in Chicago; NIBA partners with the Coffee, Sugar, and Cocoa Exchange. Free ethics training is offered to NIBA members.
- Aug1995
Melinda Schramm Nominated to CFTC
NIBA Chairman Melinda Schramm is nominated for the CFTC by two Illinois Senators.
- Dec1995
NIBA Participates in ATO Round Table
NIBA participates in the first ever round table on Agricultural Trade Options in Bloomington, Illinois.
- May1996
First NIBA Journal Published
The first NIBA Journal is published and sent out to the member community.
- Jun1996
NIBA Testifies in HTA Hearing
NIBA members testify before the U.S. House of Representatives in Washington D.C. regarding specifications in Hedge-to-Arrive contracts (HTAs).
- Sep1996
NIBA Celebrates Its 5th Anniversary
The NIBA celebrates its 5th anniversary at the Intercontinental Hotel in Chicago, hosting an event with a focus on individual managed accounts.
- Feb1997
NIBA Article Featured in Crop Insurance Today
The article “What the heck is an IB” authored by NIBA Chairman, Melinda Schramm, is featured in Crop Insurance Today magazine, and discussed how risk management education and programs can be distributed via introducing brokers. VIEW ARTICLE
- Sep1997
1997 Conference at KBOT
The NIBA holds its annual conference in Kansas City at KBOT, with the Kansas Board of Trade as the official conference sponsor.
- Oct1998
NIBA Appoints Board of Directors, Attends FIA Expo
NIBA appoints Board of Directors and attends its first year Futures Industry Association (FIA) 14th Annual Expo., Chicago, Illinois, October 14-16, 1998.
- Feb1999
NIBA Testifies on CFTC Re-Authorization
NIBA representatives testify in front of the House Agricultural Committee in Washington, D.C. on the re-authorization of the CFTC.
- Nov1999
NIBA Helps Industry Prepare for Y2K
NIBA hosts a variety of industry seminars to help the IBs and the derivatives community better prepare for Y2K.
- Apr2000
NIBA Testifies on CFTC Re-Authorization
NIBA representatives testified in front of the U.S. Senate in Washington, D.C. on the re-authorization of the CFTC.
- Jul2000
NIBA Holds Annual Board Meeting at MGEX
The NIBA holds its annual board meeting at the Minneapolis Grain Exchange (MGEX).
- Aug2001
NIBA Lobbies, Wins Representation in NFA
NIBA lobbies for representation within the National Futures Association (NFA) and successfully expands its representation from 1 to 2.
- Jul2002
NIBA Meets with Presidential Staff Over Futures Transactions
NIBA representatives meet with the staff of George W. Bush in Washington D.C. to discuss the association’s opposition to the attacks on futures transactions.
- Mar2004
NIBA Promotes Education on Regulation Changes
NIBA holds formal seminars to further inform the IB community and derivatives industry on Anti-Money Laundering and CIP regulations and rule changes.
- Feb2006
NIBA Hosts Webinar and Seminars on NFA Bylaw 1101
NIBA holds formal seminars to help educate the IB community and derivatives industry on NFA Bylaw 1101; NIBA hosts its first informative webinar.
- Oct2006
NIBA Hosts First New York Member Meeting
NIBA hosts its first member meeting at the Exchange Building in New York City, presenting sessions focused on forex and managed money.
- May2008
NIBA Publicly Supports NFA Notice Requirements
NIBA publicly supports the enhanced supervisory requirements as described in the NFA’s Interpretive Notice 9021.
- Jul2008
NFA Publicly Supports Forex Requirements
NIBA publicly supports the NFA regulation requirements for forex trading.
- Nov2010
NIBA Joins CFTC OCR Requirements Round Table
NIBA participates in the CFTC round table on Ownership and Control Reporting (OCR) Data requirements.
- Mar2011
NIBA Urges IB Regulation Exemptions
NIBA representatives publicly urge exemption of IBs from CFTC Regulation 1.71, addressing conflicts of interest policies and procedures by futures commission merchants and introducing brokers.
- Oct2011
NIBA Participates in MF Global Hearings
NIBA representatives participate in court hearings and petitioned to get broker commissions back from MF Global, filing court documentation and participating in the MF Global bankruptcies hearing.
- Aug2012
NIBA Joins PFG Hearings
NIBA representatives actively voice the opinions of the IB community at the court hearings addressing the PFG failures.
- Jun2013
NIBA Opposes NFA Requirements
NIBA representatives publicly oppose the NFA’s minimum capital requirements.
- Jul2014
NIBA Hosts 1st Joint Meeting at Arditti Center
NIBA hosts its first Arditti Center (DePaul University) joint meeting on July 8th, discussing CFTC Regulation 1.22 and the growing asset class of Managed Futures.
- Apr2015
NIBA Submits Opinion on CFTC Residual Interest Deadline
NIBA officially submits its public opinion on the CFTC Residual Interest Deadline for Futures Commission Merchants.
- Aug2015
NIBA Logo Design Evolves
Moving to streamline its look and feel, the NIBA logo is redesigned.
- Apr2016
NIBA Hosts Annual Board Meeting and Conference in New York
NIBA hosts its annual Board Meeting at the New York Athletic Club on April 19th, prior to the 2016 Annual New York Conference.
- Jul2016
NIBA Hosts 2nd Annual Joint Meeting at Arditti Center
NIBA hosts its second Arditti Center (DePaul University) joint meeting in July, discussing Cybersecurity and as well as Managed Futures. Members were given codes for free AML and ethics training.
- Sep2016
The NIBA 25th Anniversary Chicago Conference
The NIBA 25th Anniversary Chicago Conference is held at CME Group on September 14, 2016.
- Apr2017
2017 NYC NIBA Meeting
NIBA breaks record for attendance at its NYC meeting
- Sep2017
NIBA Represents Members
NIBA opposes overly burdensome CFTC recordkeeping rule proposal
- Aug2018
NIBA Symposium at DePual University
NIBA/DePaul University partner for our 5th Annual Summer Symposium
- Sep2019
NIBA/IIT Fall Membership Meeting
NIBA/IIT partner for our 1st Fall Membership meeting
- Dec2019
Advisory Group Annual Meeting
NIBA Advisory Group holds its 5th Annual Meeting
- Sep1991
NIBA Officially Launches
The NIBA is officially formed in July of 1991 to represent Introducing Brokers. Chairman, Melinda Schramm: “We think it’s long past due time that a segment of the industry with 1,800 members has an official voice.” OFFICIAL PRESS RELEASE
- Jul1992
NIBA Partners with USDA
The NIBA partners with the USDA to help keep futures industry participants better informed through shared agricultural markets reports.
- Jun1994
3rd Annual NIBA Conference
The 3rd Annual NIBA Conference is held at the Hyatt Recency in Chicago; NIBA partners with the Coffee, Sugar, and Cocoa Exchange. Free ethics training is offered to NIBA members.
- Aug1995
Melinda Schramm Nominated to CFTC
NIBA Chairman Melinda Schramm is nominated for the CFTC by two Illinois Senators.
- Dec1995
NIBA Participates in ATO Round Table
NIBA participates in the first ever round table on Agricultural Trade Options in Bloomington, Illinois.
- May1996
First NIBA Journal Published
The first NIBA Journal is published and sent out to the member community.
- Jun1996
NIBA Testifies in HTA Hearing
NIBA members testify before the U.S. House of Representatives in Washington D.C. regarding specifications in Hedge-to-Arrive contracts (HTAs).
- Sep1996
NIBA Celebrates Its 5th Anniversary
The NIBA celebrates its 5th anniversary at the Intercontinental Hotel in Chicago, hosting an event with a focus on individual managed accounts.
- Feb1997
NIBA Article Featured in Crop Insurance Today
The article “What the heck is an IB” authored by NIBA Chairman, Melinda Schramm, is featured in Crop Insurance Today magazine, and discussed how risk management education and programs can be distributed via introducing brokers. VIEW ARTICLE
- Sep1997
1997 Conference at KBOT
The NIBA holds its annual conference in Kansas City at KBOT, with the Kansas Board of Trade as the official conference sponsor.
- Oct1998
NIBA Appoints Board of Directors, Attends FIA Expo
NIBA appoints Board of Directors and attends its first year Futures Industry Association (FIA) 14th Annual Expo., Chicago, Illinois, October 14-16, 1998.
- Feb1999
NIBA Testifies on CFTC Re-Authorization
NIBA representatives testify in front of the House Agricultural Committee in Washington, D.C. on the re-authorization of the CFTC.
- Nov1999
NIBA Helps Industry Prepare for Y2K
NIBA hosts a variety of industry seminars to help the IBs and the derivatives community better prepare for Y2K.
- Apr2000
NIBA Testifies on CFTC Re-Authorization
NIBA representatives testified in front of the U.S. Senate in Washington, D.C. on the re-authorization of the CFTC.
- Jul2000
NIBA Holds Annual Board Meeting at MGEX
The NIBA holds its annual board meeting at the Minneapolis Grain Exchange (MGEX).
- Aug2001
NIBA Lobbies, Wins Representation in NFA
NIBA lobbies for representation within the National Futures Association (NFA) and successfully expands its representation from 1 to 2.
- Jul2002
NIBA Meets with Presidential Staff Over Futures Transactions
NIBA representatives meet with the staff of George W. Bush in Washington D.C. to discuss the association’s opposition to the attacks on futures transactions.
- Mar2004
NIBA Promotes Education on Regulation Changes
NIBA holds formal seminars to further inform the IB community and derivatives industry on Anti-Money Laundering and CIP regulations and rule changes.
- Feb2006
NIBA Hosts Webinar and Seminars on NFA Bylaw 1101
NIBA holds formal seminars to help educate the IB community and derivatives industry on NFA Bylaw 1101; NIBA hosts its first informative webinar.
- Oct2006
NIBA Hosts First New York Member Meeting
NIBA hosts its first member meeting at the Exchange Building in New York City, presenting sessions focused on forex and managed money.
- May2008
NIBA Publicly Supports NFA Notice Requirements
NIBA publicly supports the enhanced supervisory requirements as described in the NFA’s Interpretive Notice 9021.
- Jul2008
NFA Publicly Supports Forex Requirements
NIBA publicly supports the NFA regulation requirements for forex trading.
- Nov2010
NIBA Joins CFTC OCR Requirements Round Table
NIBA participates in the CFTC round table on Ownership and Control Reporting (OCR) Data requirements.
- Mar2011
NIBA Urges IB Regulation Exemptions
NIBA representatives publicly urge exemption of IBs from CFTC Regulation 1.71, addressing conflicts of interest policies and procedures by futures commission merchants and introducing brokers.
- Oct2011
NIBA Participates in MF Global Hearings
NIBA representatives participate in court hearings and petitioned to get broker commissions back from MF Global, filing court documentation and participating in the MF Global bankruptcies hearing.
- Aug2012
NIBA Joins PFG Hearings
NIBA representatives actively voice the opinions of the IB community at the court hearings addressing the PFG failures.
- Jun2013
NIBA Opposes NFA Requirements
NIBA representatives publicly oppose the NFA’s minimum capital requirements.
- Jul2014
NIBA Hosts 1st Joint Meeting at Arditti Center
NIBA hosts its first Arditti Center (DePaul University) joint meeting on July 8th, discussing CFTC Regulation 1.22 and the growing asset class of Managed Futures.
- Apr2015
NIBA Submits Opinion on CFTC Residual Interest Deadline
NIBA officially submits its public opinion on the CFTC Residual Interest Deadline for Futures Commission Merchants.
- Aug2015
NIBA Logo Design Evolves
Moving to streamline its look and feel, the NIBA logo is redesigned.
- Apr2016
NIBA Hosts Annual Board Meeting and Conference in New York
NIBA hosts its annual Board Meeting at the New York Athletic Club on April 19th, prior to the 2016 Annual New York Conference.
- Jul2016
NIBA Hosts 2nd Annual Joint Meeting at Arditti Center
NIBA hosts its second Arditti Center (DePaul University) joint meeting in July, discussing Cybersecurity and as well as Managed Futures. Members were given codes for free AML and ethics training.
- Sep2016
The NIBA 25th Anniversary Chicago Conference
The NIBA 25th Anniversary Chicago Conference is held at CME Group on September 14, 2016.
- Apr2017
2017 NYC NIBA Meeting
NIBA breaks record for attendance at its NYC meeting
- Sep2017
NIBA Represents Members
NIBA opposes overly burdensome CFTC recordkeeping rule proposal
- Aug2018
NIBA Symposium at DePual University
NIBA/DePaul University partner for our 5th Annual Summer Symposium
- Sep2019
NIBA/IIT Fall Membership Meeting
NIBA/IIT partner for our 1st Fall Membership meeting
- Dec2019
Advisory Group Annual Meeting
NIBA Advisory Group holds its 5th Annual Meeting
How We Engage
Membership Conferences
Membership conferences bring us together at least three times annually in Chicago and New York.
View eventsThe NIBA Journal
The NIBA Journal is electronically distributed twice monthly to keep members informed, current and connected.
Read the JournalService Providers
NIBA members have access to Service Providers with a unique understanding of the industry's requirements.
Browse providersOur Leadership
Board of Directors & Leadership
Meet our officers, directors, and committees