Dear NIBA Members and Supporters:
Welcome to the premier of Focus on the Membership. This new column will focus on a NIBA member with a recipe for success in the retail futures and options business, and will run regularly as part of our newsletter.
Selected members are:
- Registered in good standing with the CFTC and NFA.
- Representative of the diversity of the NIBA.
- Willing to share opinions, experiences and ideas.
We are proud that Advance Trading, Bloomington, IL is our first featured member. Founded in 1980 and employee-owned, Advance is an IIB with a unique model for success.
We hope you like this new feature. If you would like to be considered for 'Focus on the Membership,' contact Larry Geraghty for the Qualifying Document -- larry@geraghtygroup.net.
Warm Regards,
Melinda
About the Firm: How did you get started? Do you provide additional services besides brokerage?
Advance Trading incorporated in 1980 the inspiration of six individuals with experience in the grain industry as elevator managers and merchandising consultants. Advance was formed to fulfill a need as an independent source of information for North American grain elevators, providing worldwide perspectives in the market.
We offer commercial appraisals, farm appraisals and feasibility studies through our Bloomington office, in addition to traditional brokerage services.
What are the biggest challenges your clients face today, and how do you help them?
Managing risk in a global economy. Our primary purpose is to help develop the disciplined risk management approaches our clients need to succeed in their businesses.
How has hedging evolved since you first started the business?
The marketplace is more dynamic and global in scope. The risks and rewards, size of hedge positions and speculative positions and the capital required to maintain those positions have increased dramatically. The grain industry has seen a great deal of consolidation and is less transparent.
What do you believe to be the keys to your success?
Our people – we have some of the best risk management people in the industry. They are experienced and work together to develop strategies that are timely and relevant to our customer’s needs.
Our structure – we are an employee owned company whose success is the collective efforts of our employees.
Our philosophy – we maintain a disciplined and unique risk management approach that maximizes margins while managing risk.
What trends are you most excited about/worried about?
Regulation seems to be changing in response to Dodd-Frank as well as other influences. We know we need to keep up with the changes and be ready to put them into practice. We don’t want to have to increase our recordkeeping or the filing of additional reports with the CFTC, our FCMs or the exchanges.
Why did you become a member of the NIBA?
We became a member because NIBA actively represents the opinions of its members with regard to regulation and because it provides legal representation to the IB community. The NIBA journal and other communications help us keep up with what is changing, what is developing and what we can do about it.
We attend NIBA’s member meetings for the regulatory update sessions.
Learn more about Advance Trading at www.advance-trading.com
Contact Krsiti Aupperle at kaupperle@advance-trading.com
www.srcattorneys.com
SRC, PC is a law firm in Chicago experienced with the needs of the financial community. Contact Steve Pherson, Partner & NIBA legal advisor at spherson@srcattorneys.com.