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NIBA Journal

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

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Member Announcements
1 min read

Baker & McKenzie to serve as counsel to the NIBA

0 0 1 134 764 Gate 39 Media 6 1 897 14.0 Normal 0 false false false EN-US JA X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:8.0pt; mso-para-margin-left:0in; line-height:107%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:Calibri; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} NIBA is pleased to announce that the law firm of Baker & McKenzie has agreed to serve as councel to the Association. The lead attorney for Baker & McKenzie will be Matthew Kluchenek, who serves as the North American head of Baker & McKenzie’s derivatives practice, and who has more than 18 years of regulatory, transactional and enforcement experience working with IBs, CTAs, CPOs and others on futures and swaps matters. Baker & McKenzie has more than 4,500 lawyers in 77 offices around the world, and the global derivatives team includes more than 20 lawyers. We are excited to have Baker &...

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Member Announcements
2 min read

Spotlight on the Demo Hall by The 2015 September Conference Committee

0 0 1 22 131 Gate 39 Media 1 1 152 14.0 Normal 0 false false false EN-US JA X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:8.0pt; mso-para-margin-left:0in; line-height:107%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:Calibri; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} It has become a tradition to have a great Demo Hall each year at the NIBA Annual Member Meeting in Chicago. And this year, the Demo Hall is exceptional! 0 0 1 2 12 Gate 39 Media 1 1 13 14.0 Normal 0 false false false EN-US JA X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:8.0pt; mso-para-margin-left:0in; line-height:107%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:Calibri; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} Included are: 0 0 1 61 354 Gate 39 Media 2 1 414 14.0 Normal 0 false false false EN-US JA X-NONE /* Style Definitions...

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Member Announcements
4 min read

Chairman's Letter

0 0 1 2 12 Gate 39 Media 1 1 13 14.0 Normal 0 false false false EN-US JA X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:8.0pt; mso-para-margin-left:0in; line-height:107%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:Calibri; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} Dear Members: 0 0 1 53 307 Gate 39 Media 2 1 359 14.0 Normal 0 false false false EN-US JA X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:8.0pt; mso-para-margin-left:0in; line-height:107%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:Calibri; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} As we approach our 25th Anniversary Year, I want to emphasize that the mission of the NIBA is to provide education for IBs, CTAs and their APs which enables those registrants to grow their business. Education includes knowledge of regulation and how to comply, product/market updates, and marketing and other business practices...

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Member Announcements
2 min read

Annual Member Meeting- September 24, 2015

Annual Membership Meeting - September 24 - Chicago The NIBA Annual Membership Meeting is scheduled for September 24 at the CME Group Building in Chicago. This is a full-day event and includes a box lunch, cocktail reception and demonstration hall. In 2014, over 250 IBs, CTAs, FCMs and other industry professionals attended. This year’s event includes five business sessions: “The El Nino Effect” - how El Nino will affect the livestock, grain and financial markets “What I Really Want to Know” - the six compliance questions most often asked by IBs/CTAs to their compliance firms and accountants “NFA Representatives Update” - IB/CTA representatives answer to you “Cybersecurity - Before & After the Breach” - a general session on the year’s most talked about regulatory issue “Cybersecurity - What IBs and CTAs need to Know” - an industry specific session which includes the NFA This year’s luncheon speaker is Blu Putnam,...

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Member Announcements
2 min read

Chairman's Letter

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...

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Member Announcements
1 min read

Thank you DePaul University!

Thank you to DePaul University and to the speakers at last week's NIBA/DePaul co-sponsored event in Chicago. Thank you especially to Dr. Carl Luft, Alex Perry, Mark Shore and Dr. Jacob Furst, all of DePaul, who along with Jerry Nolan, Steve Petillo, John Nelson and Holli Kranz of the NIBA, planned and presented the program. Nearly one hundred NIBA members heard sessions on meeting the challenges of marketing managed futures and updates on cybersecurity compliance before joining colleagues at a cocktail reception on the University Terrace. NIBA is in the second year of our academic partnership with DePaul University. A video of last week's business sessions will be posted on our website within a few days. Melinda Schramm, Chairman, celebrates the Blackhawks win during the NIBA/DePaul Chicago Event

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Member Announcements
2 min read

NFA Reminder to Update ORS

Regulatory reminder: Accurate and current business contact information and email address When a firm first applies for registration, the applicant must provide the address of its main office location, its telephone number, and may provide a general email address. The applicant must also list the names, addresses and telephone numbers of the individuals whom the applicant designates as the firm's contacts for a variety of functions such as compliance, membership and enforcement. Email addresses are required for enforcement contacts and may be added for other contacts as well. On an annual basis, all registered firms must review the information in their registration records contained in NFA's Online Registration System (ORS), update any outdated or incorrect information and certify that all of the information is complete and accurate. Beyond the formal annual registration review process, registered firms have an obligation to continually update the information in their registration records to keep...

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Member Announcements
1 min read

FIA Webinar: Cybersecurity Threats: Preparation & Response

Cybersecurity has been the subject of sessions at both the NIBA New York City event, April 1 and last week's joint program with DePaul University in Chicago. We will present another full session at our Annual Membership Meeting, September 24 in Chicago, directed at practices to protect your customers' data, including compliance developments and guidance. Next Monday, June 29, 2:30pm EDT, the Futures Industry Association (FIA) will host a webinar entitled "Cybersecurity Threats: Preparation & Response." We encourage you to learn more about the Financial Services Information Sharing and Analysis Center and the FIA.  Register here.

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Member Announcements
2 min read

Calling All IBs!

I have been writing The Complete IB Handbook since 1998 - this year marks the 6th edition. The Handbook is a look at the state of Introducing Broker business today and a how-to guide for starting an IB. CME Group sponsors The Complete IB Handbook and makes it available on its website. In order to update the contents for each year's edition, CME Group and I created a survey containing questions on subject areas from monthly expenses of running the company to markets most heavily traded by customers of an IB. I compile that data and write eight chapters of information which reflect how an IB business is handled. Surveys were emailed by the CME Group about mid-May. Here is the link to the survey in case you did not receive yours -- CME Group Survey You can help me write this guide by making sure it accurately reflects what...

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Member Announcements
1 min read

Help Wanted!

Planning for the NIBA Annual Meeting, September 24 in Chicago is underway. If you would like to serve on the planning committee, please contact Mike Burke, mikeb@highgroundtrading.com or Melinda Schramm, melinda@futuresrep.com. This September's meeting will include five business sessions, a demo hall and a networking cocktail reception. Topics for two of the business sessions are already being developed and a committee is being formed. To serve on the committee, you must be able to attend planning sessions and help out onsite during the event. If you cannot serve on the committee, your suggestions for topics and speakers are still welcome - just send them to Mike. Thanks to the following members who have already volunteered: Tom Sandy, Rice Dairy John Nelson, Applied Research Mike Coglianese, NIBA Board of Directors Steve Petillo, NIBA Board of Directors Mike Burke, NIBA Board of Directors

By NIBARead article
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