NIBA Journal

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

With Sympathy
Member Announcements
September 20, 2017
1 min read

With Sympathy

Bob Wilmouth: Bob passed away September 14. He was well-known to all of us in the derivatives industry as the founding president of the National Futures Association (NFA) where he served as its first president until 2003. Prior to the NFA, Bob was the President and CEO of the Chicago Board of Trade (CBOT). In 2006, he was inducted into the FIA Futures Hall of Fame. Les Rosenthal: Les passed away September 16. Founder and managing member of Rosenthal Collins Group (RCG), Les began his career in the industry as a runner at the CBOT in 1951. He started Rosenthal & Co. in 1970. Les was one of the driving forces behind the development and launch of the GNMA futures contract, the first futures contract based on interest rates. Bill McGowan: Bill was the Managing Director of sales for Interactive Brokers Group (IB) in its Chicago office. He was responsible...

By NIBARead article
Chicago Conference Speaker Profile - Megan Glaros
Member Announcements
August 31, 2017
2 min read

Chicago Conference Speaker Profile - Megan Glaros

Megan Glaros is the meteorologist for the CBS 2 Chicago Morning News at 4:30, 5, and 6AM. Send An E-Mail To Megan Glaros She returns home to the midwest from WCBS-TV New York, where she had been the weekend morning meteorologist and entertainment reporter since 2008. Megan, a member of the National Weather Association, received her American Meteorological Society accreditation and its Seal of Approval in 2006. Watch embedded video http://chicago.cbslocal.com/personality/megan-glaros/ From 2004-08, she worked as the morning and noon meteorologist at WPLG-TV in Miami, Florida. From there, she forecasted for some of the most active hurricane seasons on record, including Katrina, Rita and Wilma. In addition to reporting on weather at WPLG-TV, Megan hosted a weekly feature segment, Megan On The Move – where she showcased South Beach culture and entertainment. She also hosted a live, one-hour Monday Night Football countdown show from different locations in South Florida and...

By NIBARead article
Ask NFA - August 2017
August 31, 2017
2 min read

Ask NFA - August 2017

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: How do I find information for IBs on NFA's website? A: NFA launched its redesigned website in late June 2017. The redesign project was driven by Member feedback, analysis of usage patterns and benchmarking, with the primary goals of providing better navigation and improving user experience. As part of NFA's website redesign, NFA created a...

By NIBARead article
Housekeeping - August 2017
August 31, 2017
2 min read

Housekeeping - August 2017

Written by: Mark E. Ruddy, Esq. Maria Fielding, Legal Assistant Three of the Commodity Futures Trading Commission (“CFTC”) Nominees Confirmed The United States Senate confirmed J. Christopher Giancarlo as Chairman and Rostin Behnam and Brian Quintenz as commissioners of the CFTC. The Senate did not vote on the fourth and final nominee currently awaiting confirmation, Dawn DeBerry Stump. As announced in Press Release pr7602-17, Commissioner Quintez was sworn in on August 15, 2017. As acting Chairman, Giancarlo already proposed earlier this year notable restructuring of the CFTC as well as a more thoughtful approach regarding rules and regulations and public responses made by the CFTC. The notion that the CFTC should be reducing the regulatory burdens in alignment with a February 24, 2017 executive order is a key objective for Chairman Giancarlo. Chairman Giancarlo did emphasize, however, that enforcement action would continue to be implemented thoroughly and consistently. Revision to...

By NIBARead article
Chicago Conference Keynote Speaker Full Bio
Member Announcements
August 29, 2017
2 min read

Chicago Conference Keynote Speaker Full Bio

Mr. Jack Schwager Mr. Schwager is a Co-founder and Chief Research Officer of FundSeeder, a firm that seeks to find undiscovered trading talent worldwide via its trader platform (FundSeeder.com), and a Co-founder of FundSeeder Investments (FundSeederinvest.com), which seeks to connect properly regulated traders with sources of investment capital. Mr. Schwager is a recognized industry expert in futures and hedge funds and the author of a number of widely acclaimed financial books. Previously, Mr. Schwager was a partner in the Fortune Group (2001-2010), a London-based hedge fund advisory firm. His prior experience also includes 22 years as Director of Futures research for some of Wall Street’s leading firms, most recently Prudential Securities. Mr. Schwager has written extensively on the futures industry and great traders in all financial markets. He is perhaps best known for his best-selling series of interviews with the greatest hedge fund managers of the last three decades: Market...

By NIBARead article
Liquidity Leaders: CME Group’s Leading Products Guide
Member Announcements
August 17, 2017
1 min read

Liquidity Leaders: CME Group’s Leading Products Guide

View a quarterly listing of CME Group’s leading futures and options contracts. This guide shows the top contracts by asset class in terms of average daily volume and open interest. This resource also highlights information on recent product launches and global partnership data. Q2 Highlights: -       Interest Rate OI reached a record 79 million contracts on June 15 -       NYMEX WTI Crude Oil ADV surpassed 1.2 million contracts, +19% versus 2016 -       FX large OI holders reached a new all-time record high of 1,106 contracts on June 6, up 19% Access Now

By NIBARead article
NIBA Annual Fall Chicago Conference
Member Announcements
August 17, 2017
1 min read

NIBA Annual Fall Chicago Conference

The Annual Fall Chicago Conference is the association's largest conference of the year hosted by the CME Group in Chicago.  We had great success at our 25th Anniversary Conference last year and this year is shaping up to be our best one yet! The full agenda will be released in short order and this year will include never before seen sessions including a cryptocurrency trading panel and the "quant-corner" breakout session.  We are also excited to have Chicago's very own Megan Glaros, Meteorologist for the CBS 2 Chicago Morning News speaking to the membership. Stay tuned for additional details and be sure to reserve your spot now.

By NIBARead article
Can Quantitative Analysis Hone a Discretionary Manager’s Edge?
Member Announcements
August 17, 2017
4 min read

Can Quantitative Analysis Hone a Discretionary Manager’s Edge?

What is a quant? Wikipedia definition: A quantitative analyst or, in financial jargon, a quant is a person who specializes in the application of mathematical and statistical methods – such as numerical or quantitative techniques – to financial and risk management problems. Amongst traders, “quant” may conjure an image of a nerdy programmer, but we may all employ quantitative analysis in our daily routines. (simple example- if freight train crossing, take longer distance route to save time). To get some perspective, Ryan Griffeth contacted Bernie Kane, who this year joined Ron Anderson as co-manager of County Cork’s discretionary Soybean Crush Spread strategy. RG: How does quantitative analysis differ from fundamental analysis BK: Fundamental analysis seeks to identify supply / demand imbalances. These imbalances can be at the consumption or user level or they can be at the producer level. If a product requires processing, the middle man can also experience...

By NIBARead article
NIBA/DePaul Internship Joint Endeavor
Member Announcements
August 17, 2017
2 min read

NIBA/DePaul Internship Joint Endeavor

The NIBA Internship Program is underway! The idea for this internship program was proposed and found strong support among NIBAs Advisory Group. Qualified students will be matched with members looking for candidates trained in a broad array of critical sectors, including Finance, Statistics, Media, Marketing, and Law. To highlight one of our recent internship success stories, Muz Quadri, who completed his MS in Finance in June, combined an internship opportunity with Rice Dairy LLC while completing his final semester at DePaul. Rice Dairy LLC expressed that “Muz was very well prepared for his internship and a delight to work with. He utilized many of his well-developed academic skills by contributing to a number of comprehensive research and development projects, including co-authoring an article that was published in May.” The goal of our program is to foster meaningful development - for both the interns and the member. NIBA and DePaul are...

By NIBARead article
Announcement from NIBA BoD
Member Announcements
August 17, 2017
1 min read

Announcement from NIBA BoD

As part of our 25th Anniversary celebration The NIBA Board of Directors are pleased to announce that all NFA registered IBs and CTAs will receive a complimentary one-year 25th Anniversary membership to the NIBA. The NIBA has been a resource to the trading and brokerage community for a quarter of a century and as a way of giving back and gearing up for the next 25 years we are excited to extend this offer to the community. NIBA President Mike Burke will be emailing each firm individually with details on how to take advantage of this special offer ahead of our annual Chicago conference. Thank you for your support of the last 25 years. If you haven't already be sure to visit the timeline on the NIBAs website to take a trip down memory lane and see the progression of this association and the accomplishments it has achieved over the...

By NIBARead article
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