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Traders Network | NIBA Focus on the Membership, May 2011
Focus on the Membership
May 2, 2011
3 min read

Traders Network | NIBA Focus on the Membership, May 2011

About the Firm: How did you get started? Do you provide additional services besides brokerage? Joe Kellogg, my partner, and I met working for a brokerage firm in southern California. Joe moved to Colorado to start Traders Network in 1987. I followed in 1989, after a short sojourn to Eugene, OR to help found a research firm which is now known as Moore Research Center. Along with our broker-assisted and electronic trading platforms, we offer auto-traded swing trading programs. Our advisory newsletter, Trader Market Views Swing Trading Report, in its 24th year of publication is one of our several educational products. What are the biggest challenges your clients face today, and how do you help them? The biggest challenges facing our customers are risk management and trading discipline. Most of our clients are speculators which have never found a trading approach that works for them, or they lack the discipline...

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NIBA Chairman's Letter: What Would You Like to Say to the CFTC?
March 23, 2011
2 min read

NIBA Chairman's Letter: What Would You Like to Say to the CFTC?

On April 18th, I will be visiting the Commission in Washington D.C. with one purpose - to bring the opinions of NIBA's members directly to the CFTC Commissioners. CFTC's response to the Dodd-Frank legislation has resulted in over 30 proposed regulations so far. While some of those will primarily effect derivatives trading, swaps and forex, several proposals also result in increased recordkeeping and reporting for all NFA registrants. Proposals such as those which would regulate conflicts of interest in the research and analysis areas of your office have the potential to affect all of our members. The NIBA has been steadfast in opposing new rules and changes that increase paperwork, cause repetitive reporting and ultimately, likely raise fees for our members. I urge you to visit the CFTC's website and read the list of proposals the Commission posted there - www.cftc.gov/LawRegulation/DoddFrankAct. I also urge you to keep up with Chairman...

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Legal Corner: Keeping Up With the Times
March 22, 2011
3 min read

Legal Corner: Keeping Up With the Times

As we all settle into a new year, the growth of your business is your obvious goal. However, the matrix of industry rules, regulations and compliance procedures continues to evolve. So keeping up with the times, and remaining aware and diligent of your regulatory and business obligations, is not be overlooked. Note that at the April 20, NIBA Conference in New York, I will be moderating a Panel of attorneys and industry professionals for an interactive panel discussion entitled Rules, Regulations and Your Revenue. The Conference also includes several other Panels and presents a wonderful opportunity for NIBA members to ask questions to help them "keep up with the times" while growing their businesses. Social Networking One topic we will discuss is the use of Social Networking sites in the role of business development. While sites such as LinkedIn, FaceBook and others can be useful to introduce new opportunities which...

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Commodity ETFs vs. Futures – An Overview of the Growing Impact of ETFs on the Investor
Marketing
March 17, 2011
3 min read

Commodity ETFs vs. Futures – An Overview of the Growing Impact of ETFs on the Investor

Opinion by Rich Strait Today ETFs provide the smaller retail investor an ever-growing variety of products that offers indirect access to the futures markets via these securitized instruments. Transactions are done simply through the investor's retail securities account, bypassing the requirement of maintaining a regulated futures account with an FCM. However, this comes at a relatively high cost to the investor. Fees, tax treatment and inefficient futures hedging practices hat may cause price correlation slippage between the ETF price and that of the underlying commodity must all be considered. Despite these pricing realities, the meteoric growth of ETFs has dramatically altered market fundamentals. ETF investors are mostly holding long positions, so large pools of non-working underlying inventories of allocated physical commodities or exchange futures (or a combination) are created. This buying and holding drives prices artificially higher while increasing margin requirements on the underlying futures contracts. The results can have...

Managed Futures to Grow to $3 Trillion in Assets Under Management: New Challenges and Opportunities for Managed Futures IBs
Marketing
March 14, 2011
7 min read

Managed Futures to Grow to $3 Trillion in Assets Under Management: New Challenges and Opportunities for Managed Futures IBs

The good news for Introducing Brokers (IBs) offering direct managed futures accounts might be found in industry growth projections. Bold industry discussions are eyeing a target of $3 trillion in managed futures assets under management. That’s a long way from the current level of $267 billion, according to the latest 4th quarter estimate from Barclay Hedge. If this were to come even close to true, the resulting explosive growth would not only be historic in the cloistered futures and options industry, but more significantly it would represent a monumental shift in the core investing landscape. While this may sound a little optimistic if not wildly aggressive, this milestone just might be realistic when some core analysis is applied. There will be introducing brokers (IBs) that succeed in this new environment – but also many that fail to adapt to this new world. Yes, with managed futures growth is a double...

Advance Trading - NIBA Focus on the Membership (March 2011)
Focus on the Membership
March 8, 2011
3 min read

Advance Trading - NIBA Focus on the Membership (March 2011)

Dear NIBA Members and Supporters: Welcome to the premier of Focus on the Membership. This new column will focus on a NIBA member with a recipe for success in the retail futures and options business, and will run regularly as part of our newsletter. Selected members are: Registered in good standing with the CFTC and NFA. Representative of the diversity of the NIBA. Willing to share opinions, experiences and ideas. We are proud that Advance Trading, Bloomington, IL is our first featured member. Founded in 1980 and employee-owned, Advance is an IIB with a unique model for success. We hope you like this new feature. If you would like to be considered for 'Focus on the Membership,' contact Larry Geraghty for the Qualifying Document -- larry@geraghtygroup.net. Warm Regards, Melinda About the Firm: How did you get started? Do you provide additional services besides brokerage? Advance Trading incorporated in 1980 the...

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Behind the Scenes of the Merger Between the CME and CBOT: Interview with Erika Olson, Author of Zero-Sum Game
Marketing
February 14, 2011
5 min read

Behind the Scenes of the Merger Between the CME and CBOT: Interview with Erika Olson, Author of Zero-Sum Game

An interview with former Managing Director at the Chicago Board of Trade and author of Zero-Sum Game, Erika Olson. Erika Olson was a newly hired managing director at the Chicago Board of Trade (CBOT) when the Chicago Mercantile Exchange (CME) made an $8 billion offer to buy the company in October 2006. Her book, Zero-Sum Game: The Rise of the World’s Largest Derivatives Exchange, is based on detailed notes she took over the course of a year as a bidding war between CME and IntercontinentalExchange (ICE) erupted for CBOT. Now that the same futures executives in Olson’s book are helping to shape the derivatives-related Dodd-Frank financial reform laws, the story of how and why the exchanges came to be in such an influential position couldn’t be timelier. Shane Stiles: What was your motivation for writing Zero-Sum Game? Erika Olson: Within days of joining CBOT—even before I learned about the Merc’s...

2011 NIBA New York Conference Agenda and Registration Now Online
NIBA Briefings
January 28, 2011
2 min read

2011 NIBA New York Conference Agenda and Registration Now Online

Venue: Exchange Building, 1 No. End Avenue, NYC (formerly the NYMEX building) Time: Registration Opens at 1:00PM, Sessions begin at 1:30pm, Networking/Cocktails: 4:30pm 2011 NIBA New York Conference agenda and registration for IBs, CTAs, APs and futures industry professionals is now online at: https://www.theniba.com/conference/conference.aspx Building on the success of the sold-out 2010 NIBA Chicago Conference, we anticipate another sell-out event at the 2011 NIBA New York Conference. Attendees took away a wealth of information on compliance, operations, sales and marketing, and market information. This year's NIBA New York Conference preceeds the 2011 CTA EXPO New York event--the premiere event for CTAs, money raisers, and industry professionals. Agenda Rules, Regulations & Your Revenue - An Update | Panel Discussion Moderator: Steve Pherson, Partner at Schuyler, Roche, & Crisham P.C. Panelists: Bart Mallon, Bart Mallon, PC | Mark Ruddy, Ruddy Law Firm | NFA Got Leads? Candyce Edelsen, President of Propel Growth...

Interview with John C. Jensen | President, Membership Chairman of NIBA
Marketing
January 3, 2011
7 min read

Interview with John C. Jensen | President, Membership Chairman of NIBA

John C. Jensen President, Membership Chairman of National Introducing Brokers Association Interview Date: January, 2011 Interviewed by John F. Gallwas - Founder of Striker Securities John C. Jensen (NFA 229230) is President of the National Introducing Brokers Association ("NIBA"), a Chicago based trade association. The NIBA provides a format for the members of the commodity futures industry to address mutual areas of interest, as well as to provide an information platform for the public. Members include Introducing Brokers ("IB"), Commodity Trading Advisors ("CTA"), Futures Commission Merchants ("FCM"), futures exchanges, and industry regulators. Mr. Jensen is also President and Founder of Heritage West Financial, Inc., a registered IB located in San Diego, California. John Gallwas: The focus of this interview is to highlight the IB members of the NIBA and the various services these organizations provide to the futures customer. Futures regulators define the IB as "a firm or individual that...

By NIBA
President Bush, Refco &“The Chihuahua”
December 15, 2010
5 min read

President Bush, Refco &“The Chihuahua”

It’s not overtly obvious, but these seemingly unrelated topics actually do have a connection. Let me explain. President Bush was at the Union League Club in Chicago last month promoting the release of his memoir Decision Points. According to Crown Publishers, Decision Points will offer “gripping, never-before-heard detail” on such historic events as the Sept. 11, 2001, attacks. Anyway, that got me thinking; thinking about all the horrible life-altering events of that day and the days that followed. It also got me thinking about how those events were the catalyst for some very important regulatory changes in the financial services industry. Anti-Money Laundering (AML) rules and regulations were put into place in April of 2002 as a direct result of the International Money Laundering Abatement and Anti-Terrorist Financing Act of 2001, which was signed into law barely a month after the attacks. Business Continuity Procedures (BCP) a/k/a Disaster Recovery Procedures...

By NIBARead article
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