Dear Members -
I recently completed a survey of registered Introducing Brokers for the guide I am writing for the industry. I have been writing The Complete IB Handbook, now in its 5th edition, since 1999, and I learn a great number of things about our community each time your survey responses are returned.
Of the IBs who responded, about 60% were Guaranteed IBs. Most of those indicated that the capital requirements and the current regulatory environment were the reasons they chose to be registered as GIBs. Over 25% of the respondent firms had been registered for 25 years or more; nearly 50% of those reported they had customer accounts open for seven years or more.
About 20% of the IBs held registrations or professional licenses in addition to the IB status. The majority of other registrations named were overwhelmingly Commodity Trading Advisor (CTA) with a FINRA or some type of securities license coming in second.
Over 40% of IBs feel they have almost fully recovered clients and revenues lost from the failure of MF Global and Peregrine Financial Group -- up from the responses about 1 year ago. And wonderful news for our Association -- about 80% of the respondents are members of the NIBA!
I want to personally thank you for participating in the recent survey -- your responses are always honest, straight to the point and the most helpful information I could wish for. The 53-question survey was sponsored by CME Group.The finished product (due in late September) will be available on the CME Group and the NIBA websites.
Mark your calendars now for the NIBA Annual Membership Meeting, September 24 at the CME Group Building in Chicago. This is our largest event of the year with five business sessions and plenty of time to reconnect with old friends and make new ones. Registration forms and program details will be posted within the next few days at theniba.com. If you have any questions about the program or the demonstration hall, please contact any member of this year’s committee. Register Here for September Conference.
See you in September, Melinda
Melinda Schramm, Founder & Chairman
NIBA