NIBA Journal

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

August 29, 2018

Grow Your Business with Options - Sept 13th

Diversification is not just something we want our customers to utilize. Diversified revenue streams have become more and more important in the brokerage world. Options products offer a way to diversify your revenue stream and provide a new product to your customer base. Our panelists are experts in this area and will not only be discussing how and why you should be using options but also how to implement successfully within your business. Space is limited....reserve your spot while seats are still available. The experience and expertise of this panel is mind boggling and if you have thought about utilizing options in your firm or want to learn how you can improve your current options offering this session is a must. Nick Howard, Managing Principal, Bantix Technologies While trading, Nick continued developing software as an independent contractor. During his time on the floor, he created options pricing programs for many...

Title Connecting: Personal Branding & Networking Strategies NIBA Fall Conference - Sept 13th

Jessica Titlebaum Darmoni, Business Development and Marketing Expert & Founder of The Title Connections to speak @ NIBA Fall Conference. Jessica will share her experience and expertise in an area that is extremely important to all participants of the brokerage industry. Space is limited....reserve your spot while seats are still available. Jessica Titlebaum Darmoni has over 15 years of experience building relationships, networking and connecting the dots. Jessica was able to build an extensive network as co-Founder and President of Women in Listed Derivatives (WILD). As WILD’s President, Jessica led WILD’s parent Board in Chicago from 2009-2014 and established branches in London, Frankfurt, Toronto, Mexico City and New York. Jessica also spent time as the Marketing Director for the Americas at Itiviti, previously known as Orc Group, as well as a Communications Specialist at the National Futures Association and the Senior Vice President of Sales/Editor at Large at John J....

Member Announcements

August 16, 2018

1 min read

Thank You - DePaul University

Thank you to DePaul University for another hugely successful joint symposium. This marks the 5th year NIBA has partnered with DePaul University to present an afternoon of education and networking for our members -- and another standing-room-only event. This year’s topics included blockchain, NFA-audit triggers, new AML requirements, implementation of GDPR and changes to cyber-security regulations. The highlight of the meeting was an intimate and very informative armchair chat featuring Leo Melamed, pioneer of financial futures and Chairman Emeritus of CME Group. Big thanks also to the Joint NIBA/DePaul Symposium Committee. The 2018 event committee included: - Tom Sandy, Chairman (NIBA Event Chair; Rice Dairy, LLC) - Dr. Carl Luft, Academic Dir. Arditti Center, Assoc. Professor, DePaul University - Katie Tervin, Zaner Group - John Roe, BTR Trading - Mark Shore, Shore Capital Management/Coquest - Mike Loftus, Metolius Capital - Tom Edwalds, Exec. Dir. Arditti Center, DePaul - Steve Petillo,...

NIBA Chicago Conference - Sept 13th

Registration is now open for the upcoming NIBA Chicago Conference. Please click here to register for this event. The full agenda will be posted at the end of this week so be sure to check back for updates and announcements. This will be a full day program followed by a cocktail networking reception. EVENT PAGE

Trade War Costs to Consumers, Companies and Nations

New Report: Trade War Costs to Consumers, Companies and Nations Fallout from the escalating U.S.-China trade war will ripple through consumers, companies and the world’s two largest economies. Any hit to the bottom lines of American companies will be modest, relative to the size of overall corporate profits. Learn More

CFTC Grants NIBA’s No-Action Request regarding certain FASB Changes

On August 13, the CFTC granted no-action and issued a no-action letter regarding certain FASB changes set to take effect as early as December 15, 2018 for certain IIBs, FCMs and other CFTC-registrants that are broker-dealers. The Lease Accounting Update as proposed would have resulted in a decrease in regulatory capital as compared to the current accounting treatment. NIBA submitted a request for no-action to the CFTC on this item in March. SIFMA and the FIA also submitted documentation. In support of our request, we noted that the Lease Accounting Update is purely a matter of accounting that does not alter the existing economic or legal characteristics of an operating lease and, further, that the impact on the capital computation of CFTC registrants is an unintended consequence of the manner in which FASB’s and CFTC’s regulations interact. Both our request and the CFTC no-action letter are posted on the NIBA...

IB Handbook

CME Group has posted the latest edition of The Complete IB Handbook on its website at cmegroup.com/ibhandbook, written by Melinda Schramm, Founder & Chairman of the NIBA. Melinda has written the definitive guide on how to become an Introducing Broker and the state of the IB community today. If you want to open your own shop, if you need an attorney or accountant or if you’re preparing for your first audit -- this is the book for you. Based, in large part, on the responses received as a result of the survey of the IB community conducted by Melinda and CME Group, the guide includes registration and audit information, business planning, a service provider directory in addition to facts about the costs of operating an IB business. Download a copy of The Complete IB Handbook HERE or contact Barb Schmidt-Bailey barbara.schmidt-bailey@cmegroup.com for a hardcopy. For questions about the contents of...

Chairman's Letter - August 2018

In 8 BC, the eighth month of the year was named for Augustus Caesar, emperor of Rome, in honor of his several great battle triumphs, including the conquest of Egypt. August is “Happiness Happens Month,” in the U.S., a month-long celebration of sharing happy news. For a good start to NIBA members’ “happy month,” CFTC has notified NIBA it has issued a no-action letter in response to our request submitted in March with regard to the changing FASB rules. Those rules would have had substantial effect on IIBs and FCMs. NIBA requested relief in behalf of its IB members, and met personally with the CFTC division of swaps and intermediaries to discuss our request in full. On August 12, we were notified of CFTC’s grant of no-action. CFTC’s full letter is posted on NIBA’s website, and will post on CFTC’s in the next week or two. Pls contact your accountant...

By NIBARead article

July 26, 2018

2 min read

CME Advisory Notice

CME Group MRAN 536: Documentation of Customer Orders and Submission of Suspense Accounts on CME Globex Effective on October 1, 2018, and pending all relevant CFTC regulatory review periods, this Market Regulation Advisory Notice will supersede CME Group Market Regulation Advisory Notice RA1605-5R from August 19, 2016. This Advisory Notice sets forth the circumstances under which a suspense account may be submitted on orders entered into CME Globex (“Globex”) and the requirements attendant to proper documentation of such orders. For purposes of this Advisory Notice, a suspense account means a temporary holding account that is submitted at the time of order entry into Globex but prior to the allocation of the executions to the specific accounts on a carrying Clearing Member Firm’s books. With the exception of the section concerning bunched Request for Cross (“RFC”) orders, which is currently in effect, the remainder of this Advisory Notice will become effective...

NYC Conference Videos

Video of NIBAs annual spring NYC conference is available online for those who were unable to attend in person. Sessions included Marketing, Cryptocurrency, Quant Essentials and Compliance Clips. Please use the link below to enjoy the videos at your convenience. NYC Conference Videos

By NIBARead article

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NIBA Journal

Grow Your Business with Options - Sept 13th

Title Connecting: Personal Branding & Networking Strategies NIBA Fall Conference - Sept 13th

Thank You - DePaul University

NIBA Chicago Conference - Sept 13th

Trade War Costs to Consumers, Companies and Nations

CFTC Grants NIBA’s No-Action Request regarding certain FASB Changes

IB Handbook

Chairman's Letter - August 2018

CME Advisory Notice

NYC Conference Videos

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