NIBA Journal

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

September 22, 2016

NIBA Hosts 25th Anniversary Chicago Conference and Launches New Member-Focused Website

The National Introducing Broker Association (NIBA) held its 25th Anniversary Conference on Wednesday, September 14th, 2016 at the iconic Chicago Mercantile Exchange. Featuring panel and debate-style sessions, this conference addressed topics covering key compliance issues, financial technology disruption, best practices in financial marketing, and economic effects resulting from the recent Brexit. In addition to exclusive financial compliance training opportunities for attendees, the conference included a special tour of the Chicago Mercantile Exchange’s Global Command Center which is the Market Operations and Customer Service desk for electronic trading on the world’s largest futures exchange. Dovetailing the event is the announcement of the newly redesigned NIBA website developed by Gate 39 Media, which not only has a new look and layout, but features a Resource Portal, which offers valuable industry content for NIBA Members. Established in 1991, the NIBA is a nationally recognized organization representing professionals in the futures and options industry....

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Focus on the Membership

September 8, 2016

1 min read

NIBA Website Launch

The NIBA is celebrating its 25th anniversary this year. The last 25 years have seen a number of changes within the industry and the association has been around for it all. Looking forward we are excited to be a part of the next chapters as well. Part of staying in front of relevant issues and topics is by keeping our commitment to being and educational resource to the industry. Our store front has been in the form of the NIBA website and this year it’s getting a full remodel. Gate 39 Media has done a wonderful job with the new website and we are excited to officially launch the site next week following our 25th anniversary conference. The site will feature an interactive timeline of the NIBA’s history, a members only portal containing a number of educational resources for our membership, a new and improved presentation of the NIBA Journal...

Business Development and Marketing

Business Development Panel (3:50-4:40PM) - Do you feel overwhelmed because you're offering every trading platform in existence? Do you scramble to keep up with every new service or product you read about? You need to attend this panel! Moderated by Financial Marketing and Technology Specialist Shane Stiles of Gate 39 Media, during this 50 minute session three firms will share their secrets for longevity accomplished by developing and sticking to a clear marketing focus. A marketing focus which targets and specializes in a specific segment of the market, products or clients. That specialization makes these three successful firms very unique. Panelists include: JonPaul Jonkheer, IASG (registered since 1992) Jeremy Shelton, Allendale, Inc. (registered since 1984) Ken Packard, Daniels Trading (registrations since 2003)

To Trend or Not to Trend

"To Trend or Not to Trend" - 10:00AM Need we say more? Andrew Strasman, Totem Asset Group (CTA) leads a panel discussion which opens with a review of the "40in20out.com" academic project. Traders and others from the investment community will share their thoughts on the pros and cons of this approach to trading. If you are already involved in, or just thinking about getting into the managed futures world, you will benefit from including this panel in your day with the NIBA. To get the most out of the discussion, do your homework before the session -- take a quick review of this recent article in Modern Trader magazine:http://www.futuresmag.com/2016/06/19/buy-high-sell-low. Panelists include: Brett Barker, B-Con, Family Office Peter Keegan, Kottke & Associates (IB/CTA/CPO) Stephen Klein, Abingdon Global (CTA) Emil Van Essen, Emil Van Essen, Inc. (CTA)

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Focus on the Membership

September 8, 2016

2 min read

September Chairman's Letter

From NIBA Chairman, Melinda Schramm September 08, 2016 Anniversary: the celebration or commemoration of an event recurring each year -Websters College Dictionaries, 2015 By now you know that NIBA is celebrating its 25th Anniversary Year during 2016. In February, FCM and Service Provider Members joined the NIBA Board of Directors to review the accomplishments of the Association and toast the coming year. In April, New York-based members of the NIBA were able to celebrate our 25th year with a half-day forum concentrating on the metals and energies markets and the very new NFA guidance for your firm's cybersecurity compliance. And, at the DePaul University co-sponsored forum in July, NIBA's 25th Anniversary commemoration continued with a educational event attended by over 100 members. I'm honored and very proud to invite you to the NIBA 25th Anniversary Conference, September 14 at the CME Group Building in Chicago. Event Chairman, Ryan Griffeth and...

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August 25, 2016

1 min read

NFA Notice to Members

On August 24, 2016, NFA notified members that effective 2017, they will institute electronic voting. An essential component of the new process is the designation of your Executive Representative - the only person from your firm who will be allowed to cast votes in the contested NFA director elections, and to submit nomination petitions. NIBA supports this initiative. Mike Burke, IIB representative to the NFA Board presented both the idea of electronic voting and a designated firm rep to NIBA Board Members when he was first elected -- it received an unanimously positive response. NIBA believes NFA's new process for handling the nomination and voting process for NFA directors and amendments assures that members positions and opinions are accurately reflected and counted. Please click here for link to full NFA Notice

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NIBA’s First-Ever Compliance Debate - September 14th

August 25, 2016

1 min read

NIBA’s First-Ever Compliance Debate - September 14th

Do you occasionally feel like there is a huge “gray area” surrounding a regulation? Did you ever think there must be a second or even a third way to approach compliance with a particular rule? Inspired by this year’s Presidential Debates, the NIBA is hosting our first-ever compliance debate! On September 14, during this year’s 25th Anniversary Conference, regulators, attorneys, compliance consultants and industry representatives will take the stage to debate the Pros and Cons of issues where multiple rules could apply, or there just might be more than one way to comply with regulation. We have an all-star line up to represent all aspects of the industry. NFA, CFTC and CME are all participating from the regulatory side of the business. Expert consultants and top industry attorneys will be among the "debaters" along with industry participant representation. This final presentation of the morning’s program promises to be informative, lively,...

Housekeeping, Reminders, and Updates

Mark E. Ruddy, Esq. and Elizabeth A. Cannon August 24, 2016 NATIONAL FUTURES ASSOCIATION   NFA Updates Self-Examination Questionnaire for FCMs, FDMs, IBs, CPOs and CTAs   On August 15, 2016, the National Futures Association (“NFA”) announced updates to its Self-Examination Questionnaire. On an annual basis, NFA member futures commission merchants (“FCMs”), forex dealer members (“FDMs”), introducing brokers (“IBs”), commodity pool operators (“CPOs”), and commodity trading advisors (“CTAs”) have an obligation to review their operations using this questionnaire. The NFA’s Self-Examination Questionnaire is a helpful tool for members to use in order to satisfy the NFA’s obligations and continuing supervisory responsibilities under NFA Compliance Rules 2-9, 2-36, and 2-39.   Additionally, the NFA has included a Forex Electronic Trading Systems section in its Supplemental Questionnaire for IBs, and has included technical clarifications within the financial section of the Supplemental Questionnaire for CPOs. For a description of all recent updates, see...

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CFTC & SEC Registration Considerations for Private Fund Managers

August 23, 2016

29 min read

CFTC & SEC Registration Considerations for Private Fund Managers

Nicole M. Kuchera and Joseph M. Mannon, Vedder Price August 23, 2016 This article provides a simple three step guide to registration considerations for managers of various types of private fund vehicles, such as for hedge funds, fund of funds, private equity funds, venture capital funds, real estate funds and commodity pools. Registration considerations under both the Commodity Exchange Act of 1936, as amended (the “CEA”), and the Investment Advisers Act of 1940, as amended (the “Advisers Act”), are outlined below. Registration considerations for non-U.S. jurisdictions are not addressed in this summary. The following discussion is provided as a source of information only and is not intended to be comprehensive or constitute legal advice. STEP 1: WHAT WILL YOU INVEST IN? Private funds can invest in a wide variety of investment products. It is therefore important to understand the scope of your firm’s investments before analyzing the potential registration considerations.[1]...

DePaul NIBA Conference Review

CTAs- do your Due Diligence priorities line up with those of your next prospective allocator? The NFA? What keeps CMEGroup’s Chief Security Officer up at night? Why does DePaul University include Cybersecurity in their Master of Science in Enterprise Risk Management program? These issues and more were addressed by at last month’s NIBA/ DePaul University conference. Valuable perspectives and harrowing experiences were shared by highly qualified panelists from legal, compliance, cap source as well as directors at the NFA. The NIBA will be launching its new members only portal mid September and will be featuring the video of this conference within the portal. If you missed the event or would like to review an topic that was discussed we invite you to sign up for the members portal and gain full access. Efficiently leverage your discovery through the NIBA.

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