NIBA - Celebrating 35 Years

NIBA Journal

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

Chairman Letter for March 2014
Member Announcements
2 min read

Chairman Letter for March 2014

Dear Members - Here’s a partial list of all the events NIBA will be involved in during the next thirty days: March 25: Risk Management Breakfast Meeting at Arditti Center, DePaul University in Chicago April 3: CFTC Roundtable in Washington DC for end users, including discussion of issues surrounding Recording Requirement 1.35 April 15: NIBA Opinion Letter Regarding the NFA Proposed CPO/CTA Capital Requirements May 1: NIBA Spring Member Meeting at the New York Athletic Club in New York City. Yes - this is a typical schedule! Every month the NIBA participates in or presents at least four or five activities which directly affect our members‘ business. Whether it is submitting an opinion on regulation or providing an educational program, NIBA members have a voice. Each of the four dates and events for the upcoming month are more fully discussed in this newsletter. Please contribute to the discussion by sending...

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Ten Yard Capital, LLC | NIBA Member Spotlight
13 min read

Ten Yard Capital, LLC | NIBA Member Spotlight

Firm Name: Ten Yard Capital, LLC Principal: Adrian V. Fleisher, afleisher@tenyardcapital.com  Founded: May 2010, NFA Member Approval Dec 2011, Started Managing Monies Aug 2012  Number of Brokers: 1  NIBA Member Since: 2013  Address: 21381 Hawthorne Lane, Kildeer, IL  Web: www.tenyardcapital.com About the Firm: How did you get started? Do you provide additional services besides brokerage? From 2008 to 2010, I was employed with a firm as VP of Operations. There were three of us running the business. One partner was the face of the firm, the other partner managed monies. I was brought in to run the day to day operations thereby allowing the two partners to focus on their specific disciplines. As such, I spent a lot of time working on the nitty-gritty parts of the business. Website development, interviewing candidates, basic accounting, acting as the liaison with the NFA and our clearing firm, etc. Much of my time...

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NIBA Spring Meeting, May 1 -- New York Athletic Club by Rich Strait, Conf. Committee
Member Announcements
1 min read

NIBA Spring Meeting, May 1 -- New York Athletic Club by Rich Strait, Conf. Committee

The NIBA spring meeting is scheduled for the afternoon of May 1, 2014 at the New York Athletic Club. The full agenda will be available on the NIBA’s website, and will include presentations on product as well as compliance. This meeting is free to all NIBA members - you can register online. NYAC dress requirements (jackets for men, no sneakers) observed. Questions or suggestions, please contact NYC Conference Committee, Rich Strait - rich@straitllc.com or Kristie Aupperle, kaupperle@advance-trading.com.

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Questions for the NFA? Comments for NFA? No problem just call the NIBA!
Member Announcements
1 min read

Questions for the NFA? Comments for NFA? No problem just call the NIBA!

The NIBA is now offering a premium service for its members and will be acting as a liaison between the association’s membership and the NFA. Do you have something you want to bring to the NFA but are hesitant to do so directly, let the NIBA do it for you. The NIBA is your advocate in the industry. We encourage all members to bring their issues to us. In turn, we will address each and every concern anonymously with the NFA. We have found all registrants periodically have questions on business practices, compliance, registrations, etc on which they would like NFA’s opinion. We have also found many members do not feel comfortable calling their regulator directly to ask something about which they may be unsure. We all appreciate a helping hand at times, and this is exactly what the NIBA will do for you, so please do not hesitate to...

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NIBA and DePaul University Team-Up
Member Announcements
1 min read

NIBA and DePaul University Team-Up

We are proud to announce our professional relationship with The Fred Arditti Center for Risk Management at DePaul University in Chicago. Earlier this year, NIBA met with members of the DePaul facility to learn about several initiatives recently developed in their financial services department, and DePaul hosted the January meeting of our Board of Directors. We felt several of their newly developed programs would be of interest and value to NIBA members. The Arditti Center hosts a risk management-oriented breakfast meeting once a month on the downtown-Jackson Boulevard Campus. Those meetings are announced on the NIBA website and is free for all NIBA members, but require registration through DePaul. NIBA is also working with the Center to hold an afternoon session or two this summer focusing on the particular interests of our members, and we are discussing a possible work program in which DePaul students can get practical experience in...

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Happy Anniversary, RJO!
Member Announcements
1 min read

Happy Anniversary, RJO!

NIBA adds its congratulations to those of the industry on the anniversary of RJ O’Brien’s 100 years in business. As the last surviving founding member of the CME, RJ O’Brien is responsible for a number of industry milestones including hiring the first woman to ever work on the trading floor and taking the first deliver of a Live Cattle contract, the first live animal commodity traded. Founded as John V. McCarthy & Co. in October of 1914, the firm began as butter and egg merchants. By the time Robert O’Brien, Sr. became the president of the firm in 1959, he was already on the way to helping transform the industry in general, and making RJ O’Brien into the largest independent futures brokerage firm in the US. Full disclosure, I worked at RJO from March of 1992 until December of 1994. Mr. O’Brien, Sr.’s work ethic and integrity was, and remains,...

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Announcing the Arditti Risk Management Leadership Program
Member Announcements
5 min read

Announcing the Arditti Risk Management Leadership Program

The Arditti Center is pleased to announce the launch of the Risk Management Leadership Program—a two-day executive course in the heart of downtown Chicago that provides advanced risk management leadership skills to high-level executives and board members. Developing and maintaining superior performance in corporate risk management, which is both effective in taking high-stakes decisions and fail-safe in times of stress, requires executive leadership. This interactive program focuses on the critical areas of risk management infrastructure, strategy, and decision-making. Designed and taught by industry and academic experts Steve Lindo and Dr. Mark Frigo, the program provides senior leaders with greater understanding of, and essential skills in, risk management leadership practices that have been field-tested across multiple industry sectors. Hosted at the DePaul Center in the heart of downtown Chicago (1 E Jackson Blvd), the Arditti Risk Management Leadership program spans a weekend (June 13th and 14th) of interactive case studies, including...

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CTA Insights: Tyche Capital Advisors on Institutional and High Net Worth Asset raising from a CTA’s standpoint.
Managed Futures
5 min read

CTA Insights: Tyche Capital Advisors on Institutional and High Net Worth Asset raising from a CTA’s standpoint.

The last few years have been a very challenging playing field to navigate.  As a CTA one has to wear multiple hats while trying to grow a business. While our specialty is trading and risk management one has to realize this is a business that has to be run like one and while a CTA may be a great trader they also have to run a good business.  The last few years have brought more challenges in raising assets for a CTA than trying to navigate a political solution with Vladimir Putin. MF Global was a serious setback for the industry and if not for the tremendous work by James Koutoulas and John Roe the industry would have taken much worse of a hit. PFG was the next shoe to drop that provided a one two punch to the industry, which everyone is still recovering from.  As a CTA trying...

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CTA/CPO Capital Requirements; More Harm than Good?
Managed Futures
14 min read

CTA/CPO Capital Requirements; More Harm than Good?

In late January 2014 the National Futures Association (“NFA”) announced to its membership they were: “…reviewing the current regulatory structure applicable to Commodity Pool Operator (“CPO”) and Commodity Trading Advisor (“CTA”) operations. In particular, NFA is looking at ways to strengthen the regulatory structure governing CPO operations to provide greater protection for customer funds… [and] exploring ways to ensure that CPOs and CTAs have sufficient assets to operate as a going concern.”   NFA then solicited input from its membership (now the general public) regarding the concept of imposing a capital requirement on its CPO and CTA members for the first time.  They also requested comments on a variety of other proposed customer protection measures.  To direct the comments NFA provided a list of questions covering a wide range of topics.  Over the past month Turnkey Trading Partners (“Turnkey”) has spent many hours talking to our clients and contemplating this proposal....

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AG & Investment Services, Inc. | NIBA Member Spotlight
6 min read

AG & Investment Services, Inc. | NIBA Member Spotlight

Firm Name: AG & Investment Services, Inc. Founded: 1986 Number of Brokers: 3 IB Status: Guaranteed NIBA Member Since: Since first year of organization, 1991 Address: 644 First Street, Suite 2, Webster City, Iowa 50595 Web: AGandInvestments.com This month’s featured member is Ag. & Investment Services, Inc. The firm has been an NFA member continuously registered since 1987.  The firm's President, Sue Martin was kind enough to provide NIBA with the information you will read below on the firm, its principal, history and operations.  Sue has over 25 years of experience in the finance industry.  Sue can be heard on a variety of radio and television programs including “Market to Market” on PBS.  For more information on Sue or the firm, visit www.AGandInvestments.com About the Firm:                                            How did you get started? Do you provide additional services besides brokerage? In February 1972, I started working in a brokerage office, Professional...

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