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Chairman's Letter - May 2017

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The U.S. House Committee on Agriculture has general jurisdiction over federal agriculture policy and oversight of the CFTC. Recommendations for funding for the Commission, as well as for its various programs and activities, originate in this committee. The committee was formed in 1820 in order to give ag-issues equal weight with manufacturing and commercial issues in member deliberations. Chairmen have included Federalists and Whigs, as well as representatives from the Union during the Civil War years. Mike Conaway (R-TX) has been the committee chair since 2015. The Committee supports several subcommittees such as the Subcommittee on Commodity Exchanges, Energy and Credit. This group oversees all policies, statutes and markets relating to commodity exchanges, among other responsibilities. Austin Scott (R-GA) is the current chairperson of the subcommittee. On March 18, I will represent the NIBA at a reception hosted by the NFA at the U.S. House Committee Room in Washington, DC. My specific purpose for attending is to introduce the current committee members to our Association’s goals so that we will have a voice when rule-making occurs. IB and CTA representatives, along with other NFA board members will be in Washington, too. Please email me any issues you would like addressed. I’ll post a summary of the event on our website. Our Annual Joint Symposium with DePaul University, Chicago is scheduled for July 20 at the downtown campus of the university. This is the 4th year of partnering with DePaul for an afternoon of business sessions and a reception. Jerry Nolan, jnolan@countycorkllc.com is the NIBA chairperson for this event. Contact him with any suggestions for topics/speakers. Over 250 industry professionals attended our April 26 event at the New York Athletic Club -- the largest participation we’ve ever had for a New York meeting. Congratulations to Howard Rennell, hrennell@e-windham.com and his committee, Ryan Griffeth, Mike Burke, Mike Coglianese, Paul Fry, Ralph Preston and Holli Kranz. Special thanks also to the event sponsors -- CME Group, Int’l FC Stone, OptionsCity, Phillip Capital and Straits Financial and our event partner, Traders Fulcrum. Best, Melinda Melinda Schramm, Founder & Chairman melinda@futuresrep.com

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