NIBA Journal

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

March 15, 2018

The Impact of US LNG Exports On The Global Gas Market

New Whitepaper: The Impact of US LNG Exports On The Global Gas Market The LNG market is undergoing a seismic shift driven primarily by the transformation in demand/supply dynamics and market structure. This has facilitated the greater integration of traditionally fragmented regional markets and accelerated the emergence of new market entrants. The combination of these factors has led to the growing commodization of LNG, which is evolving into a global commodity comparable to oil. The new landscape requires new portfolio optimization approaches and commercial considerations. Access Report to Learn More

Chairman's Letter - March 2018

March was named after Mars, the Roman god of war and an ancestor of the Roman people through his sons Romulus and Remus. March is the first month of spring in the Northern Hemisphere. March is widely thought of as the month when the earth becomes dry enough so that it is possible to cultivate in many cultures. In American culture, March Madness - my personal favorite time of the sports year - is a prominent theme! March is another busy month for the NIBA. Traditionally it is the time we reach out to all our sponsors and supporters with a special thank you. Without the support of our FCM, Exchange and Service Provider members, we could not present our in-person membership meetings. These members provide speakers and expertise for panel discussions, financial assistance and even actual meeting space. If you want more information on becoming a NIBA Service Provider...

Scott Stewart, NFA Board of Directors (GIB)

Scott Stewart, CEO, Stewart-Peterson Group, was recently elected to the NFA Board of Directors representing the Guaranteed Introducing Brokers category. Stewart-Peterson Group, is an GIB located in West Bend, WI and registered with the NFA since 1985. Scott is a long-time friend of the NIBA, having served as President of the Association for several years. We asked him to "introduce" himself to the NIBA Newsletter readership, and talk about some of the issues at NFA which he feels are important to the IB community..... "I am honored to be on the NFA board of directors. For those of you who are not familiar with me, I founded and have owned Stewart-Peterson (an agriculture-focused GIB) for over 30 years and have been in the futures industry for nearly 40 years. My work within the industry includes being a charter member of the NIBA, where I served as board member and President....

By NIBARead article

February 22, 2018

3 min read

Ask NFA - Feb 2018

As your industry advocate, the NIBA provides many services which help your business stay in compliance with NFA regulations. “Ask the NFA,” is the way you can ask questions about those regulations and compliance requirements without having to call NFA directly. Just email us at nfacomments@theniba.com and we will get the answers for you. Please keep in mind the purpose of this contact is to keep the lines of communication between the NFA and NIBA members. This month’s questions were selected from those submitted by NIBA members. The answers were supplied by NFA staff. Q: What is the time frame that I need to notify NFA if one of my customer's trades bitcoin futures? A: Any introducing broker (IB) that solicits or accepts orders in virtual currency derivatives must notify NFA immediately by amending the firm-level section of its annual questionnaire. This system is only accessible by authorized users. See...

Housekeeping, Reminders & Updates - Feb 2018

Written by: Mark E. Ruddy, Esq. Maria Fielding The National Futures Association (“NFA”) Adds Additional Questions on the Annual Financial Statement The NFA announced that as of October 31, 2017, there will be two additional yes/no questions added to the Annual Financial Statement. Both questions are related to virtual currency activities. The NFA announced the additional questions in Notice to Members I-18-03. Financial Crimes Enforcement Network (“FinCEN”) Updates Jurisdictions with Deficiencies On February 9, 2018, FinCEN released an advisory updating their list of strategic anti-money laundering (“AML”) and combatting the financing of terrorism (“CFT”) deficiencies. Notably, Sri Lanka, Trinidad and Tobago, and Tunisia were added to the “Improving Global AML/CFT Compliance: On-Going Process” list while Uganda was removed. Bosnia and Herzegovina, Ethiopia, Iraq, Syria, Vanuatu, and Yemen are all currently remaining on the list. No changes occurred regarding Democratic People’s Republic of Korea and Iran, which are currently recommended that...

3 Ways to Source a CTA

Growing Your Introducing Broker Business to Provide Value to Investors Imagine, if you would, that the managed futures space is a puzzle. Except that it is constantly adding new pieces into an unknown, multidimensional shape. For an Introducing Broker (IB), a piece in the middle of that puzzle, how one connects an investor to a commodity trading advisor (CTA) may be a simple interlock: the CTA performs one function, communicates with the IB, which then in turn performs another. Their only understanding of the other’s function is based upon the seam that connects them. Yet the managed futures space continues to grow, and with it the number of CTAs and IBs connecting with each other. In this evolving space, how and an IB and CTA form a symbiotic connection to best serve their customers? At its foundation, an IB is a business, and a business must market itself to the...

Broker Rebate Program for FANG+ Index Futures on ICE

ICE Futures U.S. introduced NYSE FANG+ Index futures in Q4 2017. The underlying NYSE FANG+ Index was developed by the NYSE and includes 10 actively traded stocks that represent some of the top innovators across today’s tech-oriented companies. The current index composition includes the five core FANG stocks - Facebook, Apple, Amazon, Netflix and Google (Alphabet) - plus another five actively-traded technology growth stocks - Alibaba, Baidu, NVIDIA, Tesla and Twitter. The index is equally weighted and reconstituted on a quarterly basis, providing a performance benchmark that allows participants to take direct advantage of the capital efficiency of futures. The unique composition and construction of the NYSE FANG+ Index has resulted in its outperformance of other major indexes Over the past three years, the NYSE FANG+ Index has displayed a 35% annualized return as compared to 15% for the NASDAQ-100®, and 10% for the S&P 500®. NYSE FANG+ Index futures...

By NIBARead article

February 8, 2018

2 min read

NFA Annual Members Meeting

On Tuesday, February 6, the NFA held its annual members meeting. For the umpteenth year in a row, I was the only NFA member attending. I attended in order to present NFA staff members with questions from the NIBA membership - questions which IBs/CTAs might not want to ask the NFA directly. As they always are, NFA staff was very responsive, conducted themselves very professionally and responded to our inquiries. This year, our membership had several questions for NFA staff. Here are two of those questions and the answers. The others will be posted in upcoming newsletters. From an IB -- while I understand why the principles of “best practices” is employed by NFA, it would be helpful if NFA would provide information about practical or specific ideas and solutions, especially in the areas of cybersecurity and recording. NFA: The original Interpretative Notice (IN) on cybersecurity is nearly two years...

Chairman's Letter - Feb 2018

February: second and shortest month of the year in the Julian and Gregorian calendars In Old English, February was referred to both as “Solmounath” - a month of mud and Kale-mounath - a month of cabbage! Mud and cabbage or not, February is a good month to set your reminders for several upcoming notable events Remember -- attendance at NIBA in-person symposiums and webinars is free for members. So, mark the following dates now: April 19 - NIBA Forum, New York Athletic Club, NYC. Sessions include (i) marketing, (ii) short, critical answers to three of our most asked compliance questions and, (iii) a cryptocurrency panel. The program opens at 1:30pm. Registration is now open. August 8 - 5th Annual NIBA/DePaul Joint Symposium, DePaul University (downtown campus), Chicago. The planning committee is focusing in on topics and speakers for this meeting. To volunteer for the committee contact me, melinda@futuresrep.com or Mike,...

By NIBARead article

Can you Firm Benefit from the New Tax Laws?

January 24, 2018

1 min read

Can you Firm Benefit from the New Tax Laws?

Michael Coglianese will be presenting this topic in an online presentation which will be made available to NIBA members. This effort is being co sponsored by the NIBA and John Lothian. All IB/CTA/CPO owners or interested parties should tune in as this session will highlight real changes you can make to your firms' structure to best position yourself for the new tax laws. Stay tuned for additional information and release dates.

By NIBARead article

Page 30

NIBA Journal

The Impact of US LNG Exports On The Global Gas Market

Chairman's Letter - March 2018

Scott Stewart, NFA Board of Directors (GIB)

Ask NFA - Feb 2018

Housekeeping, Reminders & Updates - Feb 2018

3 Ways to Source a CTA

Broker Rebate Program for FANG+ Index Futures on ICE

NFA Annual Members Meeting

Chairman's Letter - Feb 2018

Can you Firm Benefit from the New Tax Laws?

Join NIBA

Members

Resources

Directories

Join Our Newsletter