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NIBA Journal

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

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Global AML Webinar Series
Member Announcements
2 min read

Global AML Webinar Series

How to manage global AML/CTF obligations The Global Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) team at Baker & McKenzie is embarking on a new webinar series for 2016 to guide you through the complex AML/CTF landscape and how it impacts you and your business. The first session of our Global AML/CTF Webinar Series, titled "How to manage global AML/CTF obligations", will be held on Thursday 26 May 2016. Emma Hunter (Sydney), Karen Man (Hong Kong), Brian Whisler (Washington DC) and Arun Srivastava (London) will discuss US extraterritorial reach and cross-border compliance. gister by clicking this link. Kind regards, Astrid Raetze and Emma Hunter On behalf of Baker & McKenzie's Global AML Practice astrid.raetze@bakermckenzie.com emma.hunter@bakermckenzie.com About Our Global AML Practice Money laundering and terrorism financing are global problems. As the concern about terrorist threats continue to thrust anti-money laundering and counter-terrorism financing (AML/CTF) to the forefront, regulators across the world are...

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CME Group/Purdue Ag Economy Barometer
Member Announcements
1 min read

CME Group/Purdue Ag Economy Barometer

We’re pleased to announce that CME Group and Purdue University have partnered to introduce a new economic indicator to measure the health of the U.S. agricultural economy – the Purdue/CME Group Ag Economy Barometer. Each month, the Ag Economy Barometer will provide a sense of the agricultural economy’s health with an index value based on a survey of 400 agricultural producers on economic sentiment. We’re working with Purdue to provide this new tool to agricultural customers, agribusiness thought leaders, academics, members of the press and other market participants as we believe it will provide an essential resource for monitoring the health of the food industry and vital insight into the global economy. The Purdue/CME Group Ag Barometer will be available on a monthly basis at www.purdue.edu/agbarometer. Some additional resources: USA Today: Conditions improve, but farmers not optimistic. Video explainer: Introducing the Ag Economy Barometer News release: http://cmegroup.mediaroom.com/2016-05-03-Purdue-CME-Group-to-take-monthly-barometer-of-confidence-in-agricultural-economy

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NIBA-DePaul Arditti Center Intern Program Announcement
Member Announcements
2 min read

NIBA-DePaul Arditti Center Intern Program Announcement

NIBA Joins with DePaul’s Arditti Center on an Intern Program NIBA is excited to announce our joint effort with DePaul University’s Arditti Center to develop and implement an Intern Program for NIBA members. The purpose is to provide mutual value through appropriate matches of a student’s interest and capacity, with the specific interest and needs of a NIBA member. The Arditti Center has a strong record of attracting high quality students to their program(s), and most candidates for interning at our firms will be students at the financial/risk management Center. As such, NIBA members can expect the student to be highly competent and driven to “get things done.” DePaul is committed to the success of this program, and will assist in selecting candidates most likely to deliver value to the Member office. NIBA is committed to assuring a rewarding learning and growth experience for each student. This benefit is available...

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NYC Recap
Member Announcements
1 min read

NYC Recap

Thank you to NYC Speakers/Sponsors Thank you to the Speakers and Sponsors of last week’s Member Event in New York City. For the third year, NIBA members met at the New York Athletic Club for an afternoon of business sessions and networking. Thank you to our Event Sponsors CME Group and Straits Financial. Thanks also to last week’s speakers. In the coming weeks, we will be featuring articles written by the speakers - each one an expert in the industry. Please feel free to contact directly anyone with whom you would like to follow-up. Product Sessions: James Steel, james. steel@us.hsbc.com (Metal update & statistics) Al Helmig, helmig.albert@gmail.com (Changing Ownership of Crude Futures) Brian Milne, brian.milne@dtn.com (Oil & Gas: All Stored Up w/Nowhere to Go) Cybersecurity: Rob DeMuria, rdemuria@compliancesupervisors.com Amy McCormick, AMcCormick@nfa.futures.org Michael Brice, michael@bwcyberservices.com Ted Theisen, ted.theisen@unitedlex.com Howard Rennell, The Windham Group and NIBA Board Member was the chairperson of...

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April Chairman’s Letter
Member Announcements
2 min read

April Chairman’s Letter

Dear Members - On March 1, 2016, the NFA’s Cybersecurity Interpretive Notice became effective. It requires NFA Member firms to adopt and enforce written policies and procedures to secure customer data and access to their electronic systems. The notice applies to all membership categories including IBs, CTAs, CPOs, swap dealers and forex dealers. During the past month and a half I’ve had several discussions with IBs and CTAs who were not aware of their obligations under this Notice, and what actions were needed in order to remain in compliance as NFA Members. On April 20, NIBA will host a panel discussion focused on the key areas of the Interpretive Notice including a description of the safeguards against identified system threats and vulnerabilities, and a description of your firm’s ongoing education and training related to information systems security for all appropriate personnel. I strongly urge you to attend this session presented...

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Celebrate CFTC SmartCheck Week
Member Announcements
2 min read

Celebrate CFTC SmartCheck Week

Celebrate SmartCheck WeekSM with us, April 11?17, by following us at our new U.S. Commodity Futures Trading Commission (CFTC) SmartCheck pages on Facebook and Twitter. SmartCheck Week is an effort to encourage all consumers to check the background of their financial professional at least once a year. The CFTC?s Office of Consumer Outreach encourages you to promote this week to your audience through social media, newsletters, and email. Templates for these communication methods are below and available for your use. Through these channels, we look forward to increasing contact with you and striving to improve investors? financial health. Everyone benefits when investors are more informed and that begins when they work with a legitimate financial professional. Social Media Resources Use these sample social media posts to promote SmartCheck Week to your network: Sample tweets. (Please use related hashtags): Have you checked the background of your financial professional lately? Do it...

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Changing Ownership of Crude Futures Open Interest/Status of Barrel Ownership- NYC Session Preview
Member Announcements
1 min read

Changing Ownership of Crude Futures Open Interest/Status of Barrel Ownership- NYC Session Preview

Over the last 6 years the crude oil market has had a material change in market structure.The changing landscape of regulation, capital requirements and the withdraw of participation by certain market participants has changed the open interest formation. Open interest has basically double in this period while volumes have remain relatively unchanged. With the shift of the geographic demand to Asia across all commodities , it is interesting to note some of the uniqueness of Asia demand. The other feature of the market is the dramatic change in the forward curve.$100 crude had a backwardation of $20, now we live in the steep contango market and storage availability has become a focal point. The vast majority of volatility has been in the front end of the curve. The distant dates have also had a major shift. As a former commodity merchant , the commercial trade always believes the real story...

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Oil and Gas: All Stored Up with Nowhere to Go - NYC Session Preview
Member Announcements
3 min read

Oil and Gas: All Stored Up with Nowhere to Go - NYC Session Preview

At What Price will Crude Futures End 2016? Current forecasts for the end-year price level for US crude oil are in sharp disagreement, as market observers’ debate the effect of record high oil inventories, strong demand, and the impact sharp cuts to capital expenditures for drilling and expected energy company bankruptcies will have on new production. Price volatility for West Texas Intermediate futures on the New York Mercantile Exchange was high in the first quarter, with market participants whipsawed with a price plunge to a $26.05 bbl nearly 13-year low before rallying 61% to $41.90 five weeks later. Sentiment turned bullish as Saudi Arabia and Russia floated a proposal to freeze production at their January output rate even though analysts poked holes in their plan, highlighted by a production ramp up by Iran. Iran had just won relief from sanctions on its crude exports in January, and is determined to...

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NIBA at the RJO Annual IB Conference
Member Announcements
1 min read

NIBA at the RJO Annual IB Conference

NIBA wants to thank RJ O’Brien for inviting us to exhibit and attend its Annual IB Conference March 4 and 5. It was great to see NIBA members who clear through  RJO and to participate in the sessions and social events. RJO is a founding member of NIBA. Participating in their conference is another wonderful way to celebrate NIBA’s 25th Anniversary Year.   Pictured below from left to right of top picture: Frank and Linda Stone, KC Trading Group, Melinda Schramm, NIBA Chairman and Kevin Craney, RJO Oasis. Lower picture: Jerry Nolan, Melinda Schramm, Shane Stiles

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NIBA New York City Event- April 20th
Member Announcements
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NIBA New York City Event- April 20th

April 20 - New York City All members are invited to the NIBA Spring Membership Meeting April 20 at the New York Athletic Club in New York City. Onsite registration opens at 1:30pm. The program closes at 5:00pm with a Networking Cocktail Reception. Registration is open now. The afternoon’s agenda includes*: *Two market updates presented by industry experts: Metals Update-- Jim Steel of HSBC Changing Ownership of Crude Futures Open Interest/Status of Barrel Ownership--Al Helmig, Grey House Energy market outlook-- “Oil & Gas: All Stored UP and No Where to Go” presented by Brian Milne of Schneider Electric *Cybersecurity Compliance Panel including: Rob DeMuria, Compliance Supervisors Ted Theisen, UnitedLex Amy McCormick, National Futures Association Michael Brice, B(W) CyberServices This program is complimentary for all NIBA members, including IBs, CTAs, FCMs and Service Providers. CTA EXPO/ New York will be held April 21 - the day following NIBA. For questions, suggestions...

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