NIBA Journal

Insights, analysis, and updates from the National Introducing Brokers Association

Chairman's Message | August 2011
Member Announcements
August 22, 2011
2 min read

Chairman's Message | August 2011

Dear NIBA Member: On August 8, 2011, the Association filed a comment letter relating to the Proposed Amendment to CFTC Regulation 1.35(a). This proposed amendment goes beyond the NFA Rule which requires firms with a certain number of disciplined APs to record conversations with clients. The CFTC proposal would require every IB to record all oral and written communications with a client or potential client which lead to a transaction. After receiving member comments, the NIBA Board of Directors filed our Association comment letter vigorously opposing the proposed amendment. You can view the comment at http://comments.cftc.gov. Look for the comments due 8/08/2011. In January 2011, the Association also filed a comment letter opposing Proposed CFTC Regulation 1.71: FCM-IB Conflicts of Interest which would require IBs to separate people researching or analyzing price or markets from anyone involved in the firm’s trading or clearing functions who might prejudice or bias the...

By NIBARead article
Grow Your Business by Hiring the Right People
Marketing
August 22, 2011
2 min read

Grow Your Business by Hiring the Right People

The financial job market has changed since Parkway Consulting was founded over 25 years ago. Today’s IB and CTA owners look for technology “know-how” as well as good sales and service skills, and market knowledge. While finding qualified candidates is always one of the top concerns of financial business owners, the solution can be as simple as looking to referrals from your present and past employees, or your business network. Conferences, like NIBA meetings, and trade shows such as the FIA Expo, are also great places to meet experienced professionals. Once you have several resumes to select from, you will want to check for any compliance or discipline history, research the firms the candidate has worked with in the past and begin to rank the job-seekers. Preparing for the interview and following through with that plan during the interview will assure you have asked the questions about the topics and...

By NIBARead article
Stand Apart From Your Competitors | Build Power With a Strong Brand
Marketing
August 11, 2011
3 min read

Stand Apart From Your Competitors | Build Power With a Strong Brand

by Lida Citroën Principal | LIDA360, LLC Building your personal brand Successful executives across the globe are also embracing the power of "personal branding" to intentionally build a reputation for themselves and their companies that maintains this competitive advantage - in person and in the online world. Reputation counts when growing personal brands (and professional reputations). How your clients - and prospects - staff, peers and stakeholders perceive you has a direct impact on the loyalty, engagement and revenues you will generate. We hire professionals who have the necessary qualifications, and who make us feel a certain way. We know them to be capable. What causes us to "buy" - to hire them - is how we expect we will feel working with them. It has been said, "We act on logic... and we buy on emotion." Professionals with strong personal brands show up consistently and authentically. They have achieved...

By NIBARead article
Save the Date | NIBA Conference April 18, 2012 - New York
Member Announcements
July 25, 2011
1 min read

Save the Date | NIBA Conference April 18, 2012 - New York

April 18, 2012 Location: NYMEX Building, NYC 1 N End Ave. New York, NY 10282 » Directions Save the date for the NIBA 2012 New York Conference, April 18, 2012. More information coming soon! We look forward to seeing you there!

By NIBARead article
Chairman's Message | July 2011
Member Announcements
July 18, 2011
2 min read

Chairman's Message | July 2011

Dear NIBA Members - Did you know that the NIBA Online Directory is the go-to site for customers looking for a broker? Traffic to the NIBA website comes from search engine such as Google and from social media sites including LinkedIn. The site is well optimized and has a high quality score which translates into good visibility for your firm. Participation in the NIBA Directory gives every member a presence on the Internet without the cost of developing and administrating an individual site. If your firm already has exposure on the Internet, a listing on the NIBA site links potential clients looking for a firm active in a recognized trade association directly to you. Whether your firm handles futures, options or forex, your NIBA Membership dues include a basic listing in the NIBA Online Directory at no additional charge. Did you know that you can attend NIBA Membership Meetings free?...

By NIBARead article
Retail Forex Comes In From the Cold
Marketing
July 15, 2011
6 min read

Retail Forex Comes In From the Cold

by Erich Grant, Shift Forex On October 18th 2010 the NFA and CFTC issued a set of new rules governing the retail forex industry, dramatically tightening the regulatory regime under which forex firms operate. Many in the retail forex industry feared the new set of regulations would push most or almost all of the business out of the United States. Indeed, many market participants have been forced to cease doing business or have pulled out of the country and stopped accepting US clients. Far from destroying the industry, these new regulations have laid the groundwork for the next dramatic stage in the forex growth story. While tightened regulations have decreased the per-trade profitability for brokers and some market participants, the newly legitimized industry can now begin to further build its reputation and promote the spread of forex as a true alternative asset class. US-based customers are now legally mandated to...

By NIBARead article
Jackass Investing: Don’t do it. Profit from it.
Marketing
July 15, 2011
4 min read

Jackass Investing: Don’t do it. Profit from it.

Also released under the title: Exploiting the Myths Published 2011 by Ignite LLC In this informative, entertaining, and quick read, the author - Mike Dever, Founder, CEO & Director of Research of Brandywine Asset Management examines the misconceptions or “myths” of current investment theory and replaces it with what he describes as a "return driver" based methodology that results in both greater returns and lower risk. I read the entire book on a recent flight from San Diego to Chicago to attend a NIBA meeting. I wasn't planning on finishing it in one sitting but once I started I couldn't stop. It is very well written, and I thoroughly enjoyed it. A few weeks later I had the book with me again on a flight back from vacationing in Colorado. A fellow passenger noticed the provocative title and commented, “Jackass investing? All investing is jackass investing…nobody makes money investing.” If...

By NIBARead article
Sciota Trading | Focus on the Membership July 2011
Marketing
July 12, 2011
3 min read

Sciota Trading | Focus on the Membership July 2011

About the Firm: How did you get started? Do you provide additional services besides brokerage? We originally started as a small IB in Minnesota which wanted to expand into Iowa. I was hired to start the Iowa office. In the beginning it was all cold calling, all the time. It was very hard work, but after a tough first couple years it started to pay off. Our primary business today is cash grain and livestock marketing consulting. We use brokerage to assist us with achieving the risk management and pricing goals of our clients. What are the biggest challenges your clients face today, and how do you help them? The extremely volatile price action in the last several years has really increased risk for the ag producers we work with. Costs are skyrocketing along with output values. We help clients by trying to make the complexity of the various market...

By NIBARead article
Outlook for Copper: A case for higher prices?
Marketing
July 9, 2011
6 min read

Outlook for Copper: A case for higher prices?

OUTLOOK FOR COPPER: "COPPER - A CASE FOR HIGHER PRICES?": In terms of prices, the first-half of this year has fared far better than many were expecting.The broader economic climate has already shown signs of improvement and has surprised many analysts whom had not forecasted this occurrence until the 4Q. However, it appears that the market bulls had got ahead of the game in Copper as prices have seen five consecutive monthly closes higher, and we are presently sitting in view of making it six in a row. The question is where has this optimism come from when economists have been proclaiming doom-and-gloom from the demand-side perspective... A significant part of the stronger picture has been derived from the voracious appetite of China, the world's largest consumer of the metal. Copper imports into China have leapt to record levels as the State Reserve Bureau has increased its strategic stockpile buying....

By NIBARead article
Stand Apart From Your Competitors | Build Power with a Strong Brand
Marketing
July 7, 2011
3 min read

Stand Apart From Your Competitors | Build Power with a Strong Brand

by Lida Citroën Principal | LIDA360, LLC Imagine you are a client looking to find an introducing broker. To you, there is no clear difference between one broker over another. How would you choose? Most likely, all things being equal, you would chose the least expensive one. After all, why would you pay more – all things being equal? In brand marketing, we call this a commodity sale: The consumer chooses based on price when there is no clear differentiation of perceived value. Is this how you want your brokerage clients to chose you? Is your value to your clients that you are the cheapest solution to their needs? Are all things created equal when choosing a broker? What is a personal brand? A brand is an emotional connection in the hearts of your clients and the audiences they influence. Branding helps companies (and individuals) identify their desired reputation. Your...

By NIBARead article
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