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Chairman's Letter - Dec 2018

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December got its name from the Latin word decem, meaning ten, because it was originally the tenth month of the year in the Roman calendar which began in March. The winter days following December were not included as part of any month, and later were added to the beginning of the calendar as January and February...but December kept its name. In addition to Hanukkah, celebrated this year from Dec. 2 through Dec. 10 and Christmas, Dec. 25, December brings both National Egg Nog and National Fruitcake Month. The CME Group has completed its acquisition of NEX Group, PLC and its sub-brands including BrokerTec, EBS, Traiana and TriOptima. CME Group announced the acquisition will enable them to provide more efficient access to futures, cash and OTC markets, as well as post-trade services and data offerings which it believes will support more cost-effective trading and risk management. For more information, contact the CME Group. The NFA has announced guidance on the annual affirmation requirement for entities currently operating under an exemption from CPO or CTA registration. The regulations require annual affirmations of the notice of exemption. Failure to affirm your active exemption could result in the exemption being withdrawn. For more information, contact the NFA, your compliance officer or your attorney. The Emerging Manager Forum is scheduled for Dec. 13 in Miami. The purposes of this annual meeting are to provide a place for money raisers and asset allocators to meet CTAs and Emerging Alternative Managers, and to promote managed futures trading. More information on the forum and registration can be found here. Markets, along with our responsibilities to our customers, do not take a break over the holidays. But on behalf of the entire board of the NIBA, I hope you have some time to kick back with your family, your egg nog and your fruitcake during December. Best wishes for a safe, happy holiday and a prosperous New Year. Melinda Schramm, Founder & Chairman NIBA melinda@futuresrep.com

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