Insights, analysis, and updates from the National Introducing Brokers Association
Financial Trends to Watch in Second Half of 2017 The U.S. dollar losing its safe-haven status, euro gaining in value despite Fed rate hikes and regional trade pacts are among trends to watch through 2017. Access video to learn more.
Written by: Mark E. Ruddy, Esq. Jessica I. Brown, CAMS Commodity Trading Advisors (“CTAs”) Third-Party Record Keeping Relief CTAs now have the ability to request relief from certain Commodity Futures Trading Commission (“CFTC”) Regulation 4.33 and 4.7(c)(2) record-keeping requirements. CFTC Exemptive Letter No 17-24 provided CTAs relief from the requirement that books and records must be kept at the registrant’s main office. Letter 17-24, issued by the Division of Swap Dealers and Intermediary Oversight (“DSIO”), allows CTAs to submit a request for relief so that the firm may use a third-party record keeper to comply with Regulations 4.33 and 4.7(c)(2). The request for relief is not self-executing and must be submitted to the National Futures Association (“NFA”) and CFTC through the NFA’s exemption system. The NFA issued Notice to Members I-17-11, which provides detailed instructions for submitting the request for relief as per CFTC Letter No 17-24. CTA and Commodity...
Written By: Leslie Sutphen, President, Financial Markets Consulting, LLC There has been much talk about repealing most of the Dodd-Frank act now that we have a change of party in the Presidency. To many in the futures industry, this seems like a good thing; however, in determining whether the Volcker Rule and Title VII of Dodd Frank should be repealed, it is important to remember why Dodd-Frank was passed to begin with. The act was designed to address very real issues with lack of regulation, lack of transparency, and poor risk management practices that brought about the Financial Crisis of 2007 to 2008. Wholesale repeal of the Act would result in a return to the very risky conditions that developed with the massive deregulation that occurred from the late 1970s through the early 2000s. The financial crisis was caused by a proliferation of sub-prime lending and the bundling of risky...
Combined company will deliver an expanded set of front office products and services, including market access, risk management & analytics New York, London, Chicago, June 20, 2017 – Vela Trading Technologies LLC (Vela), a global leader in high performance trading and market data technology, has entered into a definitive agreement to acquire OptionsCity Software, a global provider of futures and options trading and analytics solutions. The OptionsCity acquisition will expand Vela’s front-office capabilities to include advanced analytics and risk management tools, enhance its market access managed services with additional trading and content solutions, and accelerate its data cloud strategy. The acquisition will also accelerate OptionsCity’s growth strategy, providing its clients with access to additional asset classes, trading venues, geographies, low-latency data feeds, and market access products. Jennifer Nayar, CEO of Vela, said, “This acquisition will continue to enhance the value we deliver to our clients. We are delighted to enhance...
We are pleased to have a panel this year that will focus on the regulatory considerations—the “traps”—that await CTAs who market funds or managed account programs. We will center on the key CFTC and NFA rules, and the issues spawned by those rules, and take a peek into the future with respect to potential developments. Topics will include the treatment of performance results and proprietary trading results. We’ll also look at the impact of the JOBS Act on fund-raising, and what’s been keeping the regulators’ enforcement teams busy. Ultimately, the goal is to provide you with hands-on advice and insights. If you have not already registered please do so at the following link and keep in mind there is limited capacity at this event: Register HERE
“Taking it to a Whole ‘Nother Level” - Eugene Struthers (2004-2009) Keegan-Michael Key, American writer and actor uttered this famous phrase in character as “Eugene Struthers” on the late night comedy show MadTV each time he expressed his very passionate desire to know more about a person or subject. At the 4th Annual NIBA/DePaul University Joint Symposium, we’ll be taking it to a whole ‘nother level with three business sessions presented by nine industry experts. The Symposium, July 20 from 1:30-6:30pm at the Chicago downtown campus of DePaul University is free for all registered derivatives professionals. Space is limited; advance registration is required. (LINK Here) We’re very excited to have John Lothian, Executive Chair and co-founder of MarketsWiki kick-off the event with his Keynote speech entitled “Brexit & Other Extraordinary Popular Delusions.” If you are wondering how Brexit will affect your FCM and by extension, your business, you cannot afford...
John Lothian's keynote speech at the NIBA-DePaul Symposium is titled "Brexit and other Extraordinary Popular Delusions." The former Introducing Broker and longtime newsletter publisher will reflect on the potential impact of Brexit and other macro influences on the industry and markets. If you have not already registered please do so at the following link and keep in mind there is limited capacity at this event: Register HERE
The U.S. Senate Committee on Agriculture, Nutrition, and Forestry this morning voted overwhelmingly to confirm the nomination of J. Christopher Giancarlo as Chairman for the U.S. Commodity Futures Trading Commission. He has served as Acting Chairman since January. This paves the way for his nomination to move forward to consideration on the Senate floor. Read full CFTC Press Release Here
By: Scott Kruse - Turnkey Trading Partners The State of Illinois is bankrupt. Whether anyone will acknowledge that or not is up for debate. Readers who are not familiar with the perilous state of financial affairs in Illinois need look no further than any major news publication over the last two weeks. The situation has gotten so dire that even the Chicago Tribune, Illinois’ very own reporting establishment, has gotten in on the action. Just this past week this tongue and cheek article about “Dissolving the Land of Lincoln” was run. All of this would be funny if things in Illinois weren’t so serious. So what’s a state in financial crisis to do? Raise Taxes. Except this time the taxes are intended to punish financial services firms still trying to make a buck in Illinois. That means the futures and securities industry are firmly in the State’s cross hairs. Who...
This year's NIBA/DePaul University Symposium is rapidly approaching and is shaping up to be another excellent event. Last year DePaul's rooftop deck was under construction and this year we have the opportunity to enjoy the new and improved facilities for our cocktail reception immediately following the event. In our last newsletter we proudly announced Mr. John Lothian will be the keynote speaker at DePaul this year. The full agenda has been set and is available at the below link along with the event registration information. Capacity is limited so be sure to reserve your spot in advance https://www.theniba.com/niba-event/annual-joint-niba-depaul-university-symposium/
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