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Chairman's Letter - October 2017

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Podcast: an episodic series of digial audio or video files which a user can download and listen to - Wikipedia, 2017 NIBA’s mission is to educate derivatives professionals so they can better serve their customers, stay in compliance and grow their businesses. One of the ways the mission is accomplished is through posting the video files of our member conferences on the NIBA website. You can sit back and relax at home to watch the sessions for the first time, or review them any time. Currently, you can access all the individual presentations through the member’s portal on the site from our September annual meeting and from last April’s meeting in New York City. CFTC Talks is a new podcast which will cover all topics impacting the markets regulated by the agency. The stated purpose of the podcasts is to help the CFTC “better understand the market narrative, what’s driving the market and what to expect in the future.”  This new series, begun during August, can be found here and includes talks with CFTC Chairman Giancarlo; Senator Pat Roberts, Chairman of the Senate Ag Committee; Risk Pulse Chief Meteorologist Jon Davis, and Citi Global Head of Commodity Research Ed Morse. The NFA also has a series of podcasts available through their website. Subjects include Preparing for a NFA Audit, Use of On-Line Social Networking and Identity Theft. I was able to access about 24 videos by typing “podcast” into the search box on the NFA website. That will bring up a list of the videos with links to the various areas where they are located on the site, such as “registration” or “members.” CME Group has several really good podcast/video areas posted on their website. Info accessed at https://institute.cmegroup.com is primarily education valuable for both the market novice and the experienced trader. I found the podcasts located at www.cmegroup.com/podcasts to be particularly useful for industry professionals. Among the choices are “Off The Charts” which includes CME Chief Economist Blu Putnam’s series, “This Week in Options” and “Tech Talk.”                   AN UPDATE: Last week the U.S. Dept of the Treasury released its report on streamlining and reforming the capital markets regulatory systems. One of the report’s key recommendations is that rather than merging the SEC and CFTC, the two regulators are better off “harmonizing” their rules where there is overlap. The report found that there are fundamentally different purposes of the underlying markets regulated, but felt the agencies could avoid redundancies, undue complexity and conflicts of law through harmonization. NIBA has never supported a SEC-CFTC merger, and looks forward to a thorough re-evaluation and joint review process. Melinda Schramm, Founder & Chairman melinda@futuresrep.com

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