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June 14, 2018

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DePaul/NIBA Summer Symposium

The 5th annual joint NIBA/DePaul University Symposium to take place on Wednesday, August 8, at the DePaul University’s downtown campus located at 1 E. Jackson Blvd, Chicago, from 2:00 p.m. to 5:00 p.m. Doors open at 1:30 p.m., and the program ends with a wonderful cocktail reception starting at 5:00 p.m., on DePaul’s beautiful rooftop patio. A line up of special guest speakers will discuss a variety current and relevant topics that you’ll find interesting and informative. Space is filling up quickly so Please register soon for this special event! REGISTER HERE

Chairman's Letter - June 2018

Scholars generally agree that June is named after Lucius Junius Brutus (545-509 BC), the soldier-legislator credited with founding the Roman Republic after he overthrew its longstanding monarchy. In addition to being the most popular month for weddings in the United States, June also includes National Ice Cream Soda Day (June 20) and National Take Your Dog to Work Day (June 23). On June 5, NFA announced its intent to develop proficiency requirements for individuals who engage in swaps activities. The program will be applicable to all APs at FCMs, IBs, CTAs, CPOs and APs at swaps dealers and accessible online. NFA has formed an Advisory Committee to develop the requirements, and invites members to provide input or suggestions. Call Kristen Scaletta, Associate Director of Communications at (312)781-7860 or send her an email, kscaletta@nfa.futures.org. The CFTC held an open meeting on June 4 to discuss among other issues: (i) proposed rule...

Registration Open - DePaul Summer Event

The 5th annaul joint DePaul/NIBA Summer Symposium is set to take place on August 8th. Registration is now open! Be sure to secure your spot now as space will be limited. Check back as we announce more detail about this year's program. REGISTER HERE

CME SOFR Futures

CME Group: Now Available: SOFR Futures Based on extensive customer input, CME Group has launched 3-Month and 1-Month SOFR futures contracts. Endorsed by the Alternative Reference Rate Committee (ARRC) in June 2017, the Secured Overnight Financing Rate (SOFR) is a broad Treasuries overnight repo financing rate published by the Federal Reserve Bank of New York in cooperation with the U.S. Office of Financial Research starting April 3, 2018. SOFR Futures trade alongside highly-liquid Eurodollar, Fed Fund and Treasury futures to offer enhanced spread trading capabilities via CME Globex intercommodity spreads and capital efficiencies through margin offsets. Launched May 7, in the first two days of trading, sixty global firms participated in trading activity and open interest reached 2,500 contracts. Learn more

Chairman's Letter - May 2018

During the late Russian Empire (about 211-476 CE), May or “mayovka” literally referred to a picnic in the countryside in the early days of the month. Will complying with NFA Anti-Money Laundering regulation changes be a “picnic in the countryside” for registrants? Under the changes FCMs and IBs must identify, and be able to verify the identity of the beneficial owners of legal entity customers opening new accounts after the effective date of the rule change, May 11, 2018. Additionally, FCMs and IBs must include risk-based ongoing Customer Due Diligence (CDD) procedures in their AML programs. Many FCMs began modifying systems and requirements to implement these changes from approximately August, 2016 when they were announced by FinCEN, so for many IBs, rule change will not cause difficulties. Contact your FCM for assistance in understanding the requirement and implementation. Also on May 11, NFA issued a Notice to Members regarding a...

Save the Date - DePaul Summer 2018

Mark your calendar now for the 5th Annual NIBA/DePaul University Joint Symposium on August 8th at DePaul University's Downtown Chicago Campus. Registration is now open so be sure to secure your spot now. REGISTER HERE

NIBA NYC 2018

NIBA at NYAC Over 360 individuals registered for last week's NIBA Event at the New York Athletic Club, making the biggest meeting NIBA has ever presented in New York. Thank you to all our sponsors and expert speakers who provided a program that educated and informed, alongside a wonderful reception where colleagues networked and old friends met to catch up. Thank you also to Traders Fulcrum who directly reached out to industry professionals in the New York area to include them in the event. The University of Chicago and Columbia University attended NIBA's New York meeting for the first time. These universities, along with several others, will be in the Quant Corner again at our September 13 Annual Membership meeting in Chicago. Program sessions from this NYC meeting will be posted on the NIBA website in the next few weeks. For follow-up, questions or suggestions for next year's program, contact...

What is SOFR?

New Whitepaper: What is SOFR? This note offers an introduction to the Secured Overnight Financing Rate (SOFR) and CME One-Month and Three-Month SOFR futures. It compares the underlying interest rate exposures for SOFR futures versus those for other short-term interest rate futures, both to indicate normal spread relationships and to highlight characteristics that futures users should bear in mind when hedging or spreading. Read Paper

NYC Compliance Session Preview

The second session of this year’s NYC meeting will concentrate on three areas of compliance which are most often queried by our members. The session will begin at 2:35pm, and will consist of three 15-minute presentations on the following issues: (i) Recording - I need to record that? Presented by Rob DeMuria, President, Compliance Supervisors Intl., Inc. (CSI). CSI, established in 1994, provides full compliance and financial services, as well as online training courses in ethics, AML and Cybersecurity to NFA Members. CSI is headquartered in New Jersey, and maintains an office in Chicago. rdemuria@compliancesupervisors.com Rob will focus on the extreme challenges our community faces with supervising, recording and storing various forms of communications/solicitations between brokers and leads/customers. He’ll offer some reasonable compliance solutions for small to mid-size firms. (ii) Cybersecurity - What you need to know about NFA Interpretive Notice 9070. Presented by Arthur Kenigstain, Manager, New York Compliance...

Annual Thank You Reception

A Great Big Thank You! Over 35 NIBA sponsors and supporters attended our annual Thank You Reception held March 3 at the Union League Club, Chicago. FCMs, exchanges and service provider members got together with NIBA board members to catch up on sponsorship opportunities and preview association events currently scheduled for 2018. If you would like to become a FCM or Exchange member or join as an NIBA Annual Sponsorship, contact Mike Burke, mikeb@highgroundtrading.com. Mike can answer questions about your current membership status, too. If you would like to become a Service Provider member or have questions about your current membership, contact Steve Petillo, spetillo@straitsfinancial.com.

By NIBARead article

Page 13

NIBA Journal

DePaul/NIBA Summer Symposium

Chairman's Letter - June 2018

Registration Open - DePaul Summer Event

CME SOFR Futures

Chairman's Letter - May 2018

Save the Date - DePaul Summer 2018

NIBA NYC 2018

What is SOFR?

NYC Compliance Session Preview

Annual Thank You Reception

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