NIBA Journal

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

November 9, 2016

NIBA SoCal Conference - Feb 2017

Mark your calendar now for the NIBA winter event February 23 at the Newport Beach, CA Marriott as a little bit of Chicago and New York comes to Southern California! The NIBA regulary holds an annual spring meeting in New York City and a fall event in Chicago - the centers of futures trading in the U.S. In distant Southern California the futures business is spread out over an immense landscape – creating a “vacuum” of interpersonal relationships and perhaps too, a sense of detachment from the industry. The NIBA SoCal conference successfully addresses this situation. Attendees are afforded the opportunity to hear a panel of experts on important topics critical to the growth and success of their businesses. The closing networking reception will provide the chance for participants to interact with their peers from across the southland, exchanging ideas, discussing concerns, and trading professional experiences, thus creating greater opportunities,...

By NIBARead article

CFTC Commissioner Giancarlo on Proposed Reg AT

October 31, 2016

1 min read

CFTC Commissioner Giancarlo on Proposed Reg AT

Please take a moment to watch the video below of CFTC Commissioner Christopher Giancarlo's thoughts and concerns about the CFTC's proposed Reg AT: https://www.youtube.com/watch?v=czFDOnsNoIM

NIBA Board of Directors Election

The NIBA's Board of Director's election is upon us. We have one member up for re-election this year. Per the bylaws of the NIBA members must be notified of said election prior to the first day of November of the election year and voting must be completed prior to the last calendar day of the election year. This article serves as a reminder for members to look out for a special announcement from the NIBA regarding the upcoming election and how to participate. **Please note only current members are eligible to vote**

Housekeeping, Reminders and Updates October 2016

COMMODITY FUTURES TRADING COMMISSION Swap Dealer Registration De Minimis Exception In a press release issued October 13, 2016 (Release: PR7471-16) the Commodity Futures Trading Commission (“CFTC”) announced the approval of an order establishing de minimis threshold phase-in termination date pursuant to CFTC Regulation 1.3(ggg)(4)(ii)(C)(1), (the “Order”). The Order delays the de minimis threshold phase-in termination date by one year. The Order formalized December 31, 2018 as the new swap dealer registration de minimis threshold phase-in termination date. With the approval of the Order, the de minimis threshold will remain at $8 billion until December 31, 2018 instead of decreasing to $3 billion on December 31, 2017, as originally intended. The purpose of the Order is to provide the CFTC with additional time to consider this critical issue and to provide certainty to market participants. As per this Order, and absent further action by the CFTC, the phase-in period would terminate...

By NIBARead article

October 26, 2016

4 min read

Ask NFA--October 2016

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. "I was wondering if you could guide me to any more sources on the topic of a CTA compensating a friend or current client for introducing the CTA to a new client. Assuming no brokerage commission sharing, no violations of marketing rules in terms of being deceptive, not disclosing risks, etc., is it then OK to...

NFA Rep Panel Recap

I had the pleasure to moderating the NFA Rep Panel. The three panelists shared their insights with the audience concerning the key issues and challenges facing the IB and CTA/CPO communities as they are addressed on the NFA Board level. The panelists also responded to pertinent questions raised from the audience that covered a wide range of topics with very thoughtful and relevant responses. One of the biggest takeaways gleaned from the Panel was the inspiring response that all three gave to the question of “how can I get involved.” The Panelists encouraged the audience to volunteer to serve on the various committees at the NFA and reflected on the value and practical insight that the IB and CTA/CPO communities can bring to the NFA through this type of service, and reinforced the importance of “speaking with one voice” through the NIBA. Thanks to our NFA elected representatives who participated:...

How CME Group Agricultural Markets Operate

Nothing is more important to CME Group than the integrity of our markets. We use a variety of controls throughout the life of each trade, and those protections help to ensure customers have confidence in the market so they can manage their risk. We want to provide you with more information on how CME Group maintains the integrity of each market throughout the lifecycle of every trade. Please use the following link to read the full article: How CME Group Agricultural Markets Operate

Life of a Brokerage Firm <Part Three>

Life of a Brokerage Firm <Part Three> Ron Grossman and Ryan Griffeth conducted as series of interviews discussing the various stages of a brokerage firm. Interviews are presented here in Q&A form. The focus of part three is on the exit strategy, or lack thereof, and what firms who have formalized these types of strategies are doing to implement them successfully. <Industry Professional> Michael Coglianese, Coglianese, CPA How many firms do you talk to that have an exit strategy formalized? 10%. They all should have them. What would you advise a firm or broker who had an exit strategy but was unsure of how to execute it? Talk to an attorney and accountant who has experience in this area. It will be the best money they spend If a firm or broker does not have a non-compete or a transfer and assignment agreement in their contract what if any remedy...

NIBA Washington DC Visit

On October 27, representatives of the NIBA will be in Washington, DC. Melinda Schramm, Mike Burke and Ryan Griffeth will visit with CFTC Commissioners, staff and representatives of the Commodity Markets Council. To submit any topics you’d like us to include in these discussions, please forward them by COB October 24 to Melinda, melinda@futuresrep.com; Mike, mikeb@highgroundtrading.com; or Ryan, ryan.griffeth@potrockbrokerage.com. A summary of the Commission and CMC meetings will be published in the November newsletter.

Save the Date: SoCal Conference Feb 23, 2017

Newport Beach, CA - February 23, 2017 Mark your calendar now for the NIBA winter event February 23 at the Newport Beach, CA Marriott! After taking a year away, members told the board they wanted the Association to meet in southern California again. More than 75 members attended each SoCal meeting in 2013-2015. February 23 will be an afternoon of two-three business sessions followed by an open reception very similar to the NIBA forums presented annually in New York City and at DePaul University, Chicago campus. Program agenda and registration will be open @theniba.com about the first week in December. John Jensen & Ralph Preston are NIBA co-chairs for this event. To suggest topics or speakers, or to volunteer to help plan and implement the meeting, contact John, jjensen@hwfi.com, Ralph, rpreston@hwfi.com or Melinda, melinda@futuresrep.com Sponsorship opportunities are available. Contact Melinda or Mike, mikeb@highgroundtrading.com.

By NIBARead article

Page 44

NIBA Journal

NIBA SoCal Conference - Feb 2017

CFTC Commissioner Giancarlo on Proposed Reg AT

NIBA Board of Directors Election

Housekeeping, Reminders and Updates October 2016

Ask NFA--October 2016

NFA Rep Panel Recap

How CME Group Agricultural Markets Operate

Life of a Brokerage Firm <Part Three>

NIBA Washington DC Visit

Save the Date: SoCal Conference Feb 23, 2017

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