NIBA - Celebrating 35 Years
Back to Journal
Member Announcements

December Chairman's Letter

N
Written by
NIBA
Published
Reading time
2 min
The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.                                                                            William Arthur Ward, 1921-1994 William Arthur Ward was an American writer, author and editor of the Pertinent Proverbs column which appeared weekly in the Ft. Worth Texas Star-Telegram for over 40 years. Credited and quoted frequently by public speakers, I thought the above sentence was particularly applicable to the events of 2016, and to how industry participants will be adjusting to the possible changes 2017 will bring. With a change of administrations, the agenda at the CFTC is likely to change too. Commissioner Massad, a Democrat and current chairman, is overseeing an agenda which includes AT registration and position limit proposals -- both of which have been heavily scrutinized, and often criticized by the industry. Additionally, The White House will have the opportunity to nominate candidates to fill the two currently vacant positions. Changes of agenda, personnel and policy could happen quickly in the new year. NFA is poised for its first change of leadership in 13 years. Dan Roth, only NFA’s second CEO since its establishment in 1982, steered the agency through swaps and forex regulation, and the MF Global and PFG failures. Tom Sexton is set to take over as President/CEO in March, 2017, after spending nearly 25 years at the NFA. A focus on upgrading systems to keep up with changes in the marketplace is expected to be a priority. Phupinder Gill, announced on November 11th that he will retire from the CME Group Board at the end of 2016. Mr. Gill was with the exchange in 2007 when the CME and the CBOT completed their merger. Terry Duffy, current President and Executive Chair of the CME, will take on the additional role of CEO in 2017. John Lothian becomes the executive chairman of John J. Lothian, Inc. in the coming year. John has contributed greatly to the industry with such publications as the widely-read John Lothian News and MarketsWiki. Jim Kharouf will take the position of CEO of the company. The take-away -- don’t give up either complaining or expecting change. But do get ready to adjust the sail. Best wishes for your holiday season, Melinda Melinda Schramm, Founder & Chairman melinda@futuresrep.com

Stay Informed

Subscribe to the NIBA Journal for the latest insights and industry updates

Related Articles

View All
Member Announcements

Special Alert: Introducing Brokers will be featured at FIA EXPO 2025

FIA Futures and Options Expo returns to the Sheraton Grand Chicago Riverwalk November 17 & 18th. SPECIAL ALERT: For the first time in several years, Introducing Brokers will be featured at EXPO. On Tuesday, November 18, 3:15pm IBs will present a panel you don't want to miss! Introduced by Melinda Schramm, President of MHS Capital Resource and Founder & Chairman of the NIBA, the panel includes: Morad Askar, EdgeClear Elaine Levin, Powerhouse TL Steve Petillo, Pinion Global Abbey Wilkins, Sweet Futures Matt Kluchenek, Katten Muchin This panel will discuss how Introducing Brokers are viewing and meeting industry and technology changes that are impacting our relationships with our customers, our FCMs and our trading platforms. Click here to view the full...

Member Announcements

From the Classroom to the Trading Floor

There is no single, clearly defined education path for entering the derivatives industry as professionals come from a range of academic backgrounds. Still, higher education plays a crucial role in preparing students for success in this complex and fast-evolving field. A strong foundation in finance, economics, and mathematics is essential. At the undergraduate level, students should prioritize courses in financial markets and institutions, investment analysis, corporate finance, and introductory derivatives. Just as important are courses in statistics and calculus, which help build the analytical and quantitative skills required for understanding pricing models, volatility, and risk management strategies. With the increasing reliance on algorithmic trading and quantitative research, a concentration or minor in applied mathematics, data science, or computer programming can...

Member Announcements

From Insight to Impact: Building a Risk-Smart Community

With a more complex global environment and continuous financial innovation, new and more sophisticated areas of risk have emerged. At the same time, rapid advances in artificial intelligence (AI) and machine learning offer powerful opportunities for private sector firms and financial institutions to enhance their risk management capabilities. Honoring a Legacy: The Founding and Mission of the Arditti Center Founded in 2006, the Arditti Center for Risk Management honors the life and legacy of the late Fred Arditti - a distinguished economist, pioneer in the futures industry, and former executive at the Chicago Mercantile Exchange - who also served as a member of DePaul University's finance faculty. The Center promotes the development of the risk management field by bridging the...