Insights, analysis, and updates from the National Introducing Brokers Association
Jack Bouroudjian examines today’s rate hike from the Federal Reserve and how commodity markets and the yield curve responded. The post Market Update: What Comes After The Rate Hike? appeared first on OpenMarkets. Source: CME Open Markets - Market Update: What Comes After The Rate Hike?
Ahead of this week’s FOMC meeting, is the market finding its footing? Jack Bouroudjian looks at what traders are expecting from the Fed decision, and how that decision could impact markets in 2019. The post Market Update: The Market Awaits FOMC appeared first on OpenMarkets. Source: CME Open Markets - Market Update: The Market Awaits FOMC
Illinois lawmakers have taken steps to limit the maximum duration of short-term medical plans (STM plans) from 360 days to 180 days. Earlier this year, Gov. Bruce Rauner vetoed a bill that would apply this limitation, but Illinois lawmakers had enough votes to override that veto. Bill SB1737 is due to go into effect on 1/1/2019. The bill states that STM plans can only be for a duration of 180 days. When a STM plan ends there is a mandatory 60 day break before starting another STM plan. United Healthcare and other carriers are stating that any plan that has been signed up before 1/1/19 will be honored for the duration of the contract. The STM contracts in force prior to the implementation of the 180 day duration of the term rule, will be honored for the duration of the term that was written in the members original STM contract....
The NIBA is pleased to announce renowned financial innovator and entrepreneur, Dr. Richard Sandor will deliver the keynote address at our NYC Conference. If you have not yet registered please take a minute to do so as this event tends to fill up quickly. Richard L. Sandor is chairman and chief executive officer of Environmental Financial Products LLC, which specializes in inventing, designing, and developing new financial markets with a special emphasis on investment advisory services. EFP was established in 1998 and was the predecessor company and incubator to the Chicago Climate Exchange (CCX), the European Climate Exchange (ECX) and the Chicago Climate Futures Exchange (CCFE). Dr. Sandor is the author of Good Derivatives: A Story of Financial and Environmental Innovation, published in 2012, and the lead author of Sustainable Investing and Environmental Markets: Opportunities in a New Asset Class, published in 2015 (by World Scientific). His new book “How...
On November 29, the Advisory Group (AG) of the NIBA held its annual meeting at the Union League Club, Chicago. This committee meets one afternoon each year to discuss ideas which are intended to help the NIBA grow and to remain effective and valuable to our members. This year’s meeting overwhelmingly confirmed the Association’s mission of education and recommended several initiatives to the Board of Directors, including new levels of communication between NIBA’s committees and its members. Rodney Dow, The Dow Corp. is the NIBA board member chairing this committee for the third year. Board members Melinda Schramm, Mike Burke, Steve Petillo and Tom Sandy also sit on the AG committee. Thank you to Mark Haraburda, Barchart; Kelly Hartman, CME Group; Mark Shore, Shore Capital Management; and Ginger Szala, Ginger Szala Ink - all of whom rotated off the group after serving three year terms. 2018 Advisory Group Members include:...
December got its name from the Latin word decem, meaning ten, because it was originally the tenth month of the year in the Roman calendar which began in March. The winter days following December were not included as part of any month, and later were added to the beginning of the calendar as January and February...but December kept its name. In addition to Hanukkah, celebrated this year from Dec. 2 through Dec. 10 and Christmas, Dec. 25, December brings both National Egg Nog and National Fruitcake Month. The CME Group has completed its acquisition of NEX Group, PLC and its sub-brands including BrokerTec, EBS, Traiana and TriOptima. CME Group announced the acquisition will enable them to provide more efficient access to futures, cash and OTC markets, as well as post-trade services and data offerings which it believes will support more cost-effective trading and risk management. For more information, contact the...
The beginning of a new year is typically when Commodity Futures Trading Commission (“CFTC”) registered, National Futures Association (“NFA”) member firms are most focused on growing their book of business. While the launch of new marketing or trading campaigns is important, attention to shifting operational and regulatory issues is just as critical to running a successful brokerage and/or trading operation. For Futures Commission Merchants (“FCMs”), Introducing Brokers (“IBs”), Commodity Pool Operators (“CPOs”), and Commodity Trading Advisors (“CTAs”) the end of 2018 is the perfect time to take an account of company regulatory obligations. Based on experience with a diverse group of customers and regulatory requirements, the following represents five “hot topic” areas that will impact firms going into 2019. While reviewing this list, keep in mind it is always easier, cheaper, and less painful to be proactive, rather than reactive, when it comes to compliance matters. 1) Anti-Money Laundering Several...
Planning is well under way for this spring's annual NIBA NYC event. The date for the event has been set for April 10th and will be held at the prestigious New York Athletic Club in New York City. Registration is open for this event which tends to fill up quickly so be sure to take a minute and reserve your spot. This year's planning committee is Mike Burke (mike@highgroundtrading.com), Steve Petillo (spetillo@straitsfinancial.com) and Melinda Schramm (melinda@futuresrep.com). Please feel free to reach out with suggestions on sessions topics or speakers. Register here for NIBA NYC Spring 2019
The Commodity Futures Trading Commission (CFTC) and the Center for Risk Management Education and Research (CRMER) at Kansas State University will host AgCon2019, the 2nd annual agricultural commodity futures conference on April 11-12 in Overland Park, Kansas. The CFTC and CRMER will again jointly host the conference, which brings together federal, state, and local governments with agribusiness and academia to discuss a range of topics that are important to the agricultural community who depend on the futures markets. “We are excited to once again partner with K-State to discuss significant derivatives-markets issues affecting the agricultural community. AgCon2018 brought together stakeholders from industry, government and academia — to explore a wide range of topics facing the agricultural futures markets,” said CFTC Chairman J. Christopher Giancarlo. “The robust presentations and insightful panel discussions from that first conference started important conversations on numerous issues facing the agricultural community. Next year, we plan to...
Due to the significant growth of the virtual currency market, the NFA has proposed an interpretive notice to the CFTC invoking the “ten-day” provision and will make it effective 10 days after receipt of submission. The notice was put forth because of concerns that customers do not fully understand the nature, volatility, and substantial risk involved with trading virtual currencies. Therefore, NFA is implementing new disclosure requirements for NFA Members engaging in virtual currency products. For IBs and FCMs, an Investor Advisory: — Futures on Virtual Currencies Including Bitcoin an the CFTC Customer Advisory: Understand the Risk of Virtual Currency Trading, to any customer that engages in a virtual currency derivative transaction with or through the FCM or IB Member. For introduced accounts, the advisories may be provided by either the FCM or IB Member. If the FCM or IB member has customer that traded virtual currency derivatives before this...
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