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Member Announcements

May 11, 2017

2 min read

Chairman's Letter - May 2017

The U.S. House Committee on Agriculture has general jurisdiction over federal agriculture policy and oversight of the CFTC. Recommendations for funding for the Commission, as well as for its various programs and activities, originate in this committee. The committee was formed in 1820 in order to give ag-issues equal weight with manufacturing and commercial issues in member deliberations. Chairmen have included Federalists and Whigs, as well as representatives from the Union during the Civil War years. Mike Conaway (R-TX) has been the committee chair since 2015. The Committee supports several subcommittees such as the Subcommittee on Commodity Exchanges, Energy and Credit. This group oversees all policies, statutes and markets relating to commodity exchanges, among other responsibilities. Austin Scott (R-GA) is the current chairperson of the subcommittee. On March 18, I will represent the NIBA at a reception hosted by the NFA at the U.S. House Committee Room in Washington, DC....

NYC Conference Highlights

This year's spring conference was a large success. Our speakers covered a wide range of topics and were very well received. For those of you who were not able to attend in person we were able to record the entire program and will be releasing video of the event in the near future inside our new member portal. Thank you to all of our members who continue to support this organization and contribute to the success of our conferences. A special thank you to our sponsors who make what we do possible. Options City, CME Group, Phillip Capital, Gain Capital and Straits sponsored this year's conference. Here are some highlights from the conference with more to follow in upcoming editions of the newsletter:  

NIBA NYC Conference

The NIBA's New York conference is quickly approaching and capacity is limited so make sure to reserve your spot now. You can register here. The full agenda has been published on the NIBA website and we have an excellent line up this year. See below for details. The NIBAs cocktail parties are well known and never disappoint and this year promises to be better than ever. NIBA has teamed up with Trader's Fulcrum to host a joint cocktail party. Traders's Fulcrum has become a big hit in Chicago and this will be their debut for the New York trading and brokerage community. Our conferences and events are not possible without the support of our members and sponsors. Thank you to our sponsors and supporters and we look forward to seeing you in the Big Apple.   NIBA NYC Conference Agenda and Sponsors Primary Sponsors CME Group Options City Straits Financial...

NIBA & DePaul Internship Program

NIBA and DePaul have joined efforts to introduce highly qualified graduates to members looking to bring state of the art edge to their own business. DePaul is dedicated to provide qualified interns to initial discovery, and NIBA is dedicated to bring qualified prospective employer to discovery. WIIFM- What’s in it for me? We don’t ask ourselves this when considering whether or not to bend down to pick up a $100 bill, but we do- we must- when the REWARD:RISK, or VALUE:EFFORT ratio is less plain. Regarding value or risk of a DePaul University internship, what you won’t get is a disinterested nephew of a company vice-president who wants to copy, shred, and get coffee. Instead, consider DePaul’s Arditti Center mission: “The Arditti Center will be a leader in the design and implementation of a state-of the-art curriculum in Risk Management” Consistent with Fred Arditti’s philosophy, the program will aim to...

Chairman's Letter - April 2017

“We do believe there are too many regulators...” Sharon Brown-Hruska, 1960- Sharon Brown-Hruska is a former Acting Chairman of the CFTC (2004-2005) and current director at NERA Economic Consulting. As a member of the Trump administration’s “landing” team, she told attendees at the New Risk in Energy Conference in Houston, TX earlier this month, that streamlining regulatory processes and relying upon fewer regulators is a Trump priority. Although she admitted there is no “game plan” as yet, she said regulatory reform is coming. The perennially proposed merger between the SEC and CFTC could be pursued “if it made sense, if there are real synergies there.” She went on to say that personally she didn’t think there were enough commonalities for the merger to take place, but the discussion is still open in this administration. Additionally, Ms. Hruska said that another possible area of reform is to “put some teeth into...

Intent to Nominate J. Christopher Giancarlo as CFTC Chairman

President Donald J. Trump announced his intent to nominate a number of key administration officials. This announcement included nomination for Chairman of the CFTC. Below is from the White House Office of the Press Secretary: J. Christopher Giancarlo of New Jersey will serve as Chairman of the Commodity Futures Trading Commission. Mr. Giancarlo was confirmed to be a Commissioner at the Commodity Futures Trading Commission by unanimous consent of the Senate on June 3, 2014. He was designated as Acting Chairman of the Commission on January 20, 2017. Before entering public service, Mr. Giancarlo served as the Executive Vice President of GFI Group Inc., a financial services firm. Prior to joining GFI, he was Executive Vice President and U.S. Legal Counsel of Fenics Software and was a corporate partner in the New York law firm of Brown Raysman Millstein Felder & Steiner. He attended Skidmore College in Saratoga Springs, New...

Chairman's Letter - March 2017

“I don’t mind going back to daylight saving time. With inflation, the hour will be the only thing I’ve saved all year.” Victor Borge, 1909-2000 Victor Borge was an Danish and American comedian, conductor and pianist, popular on radio and television in Europe and the United States. He was often referred to as “The Clown Prince of Denmark.” I am writing this during the snowstorm following the Sunday we “sprung forward” to change our clocks to daylight saving time, and, like Victor Borge, I want to make the most of my “saved hour,” and let NIBA members know how to use theirs too. First I’m going to the Members Resources portal on theniba.com in my “saved hour.” I’m going to read “How to Use Twitter” submitted by Shane Stiles, Gate 39 Media Then I’m moving on to the submission from Great Lakes Credit Union and finally, the article entitled “Decoding...

NIBA SoCal Conference Wrap Up

SoCal Conference Summary On February 23rd the NIBA held its first conference of 2017 in Newport Beach, California. Promoted as being held in “toasty” southern California many attendees from the Chicago area commented that the weather they left back in the windy city was actually quite a bit warmer! In spite of the unseasonably cool 61° the conference was a great success! I believe NIBA’s SoCal conferences are a bit different and in a way special from our conferences in Chicago and New York – the centers of the futures industry in the United States. The participants in the futures industry in California are spread out without a central location thus greatly diminishing the opportunity for building personal relationships that are so critical for success. There is no chance to run into another industry professional in the lobby of the Chicago Board of Trade building or perhaps to meet down...

ADM Investor Services Celebrates its 50th Anniversary

From it’s modest beginning in 1966 to the global clearing firm it is today, ADM Investor Services has never wavered in its commitment to the Introducing Broker community. The firm is proud of the 250 IB’s who have chosen ADMIS as their clearing firm, and tailors its services to help them succeed. Check out their story here  

Chairman's Letter - February 2017

A little learning, indeed, may be a dangerous thing, but the lack of learning is a calamity to any people - Frederick Douglass, 1817-1895 Frederick Douglass was an abolitionist, orator, author, and women’s rights advocate. A former slave, he rose to national prominence during the Civil War years, and was an outspoken supporter of the necessity of education to further the betterment of the human condition right up to the end of his life. NIBA’s mission is education. Learning about our industry, market conditions and regulations is not only necessary for CFTC registrants and NFA Members so that they stay compliant, but helps us to service the needs of our customers in the very best ways possible. NIBA’s first membership learning opportunity of 2017 takes place on Feb. 23 at the Marriott Hotel, Newport Beach, CA. With the program sponsorship of CME Group, Gain Capital and Phillip Capital, NIBA will...

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