How did you get started? How did the firm get started?
Mike Burke started in the business as the Controller of an FCM and worked his way up to Senior Management positions at various FCMs including Iowa Grain, RJ O’Brien and MF Global. Rick Gallwas started on the brokerage side of the business and worked into Senior Management at various brokerage operations including ZAP Futures and RJO Futures. Burke and Gallwas partnered in 2009 to form HighGround an IIB providing value added services to direct retail and commercial ag clients as well as IBs and branch offices.
Does the firm provide additional services besides brokerage?
The firm provides hedge consulting, managed money products and research.
What are the biggest challenges your clients face today? What does the firm do to help meet those challenges?
The biggest challenge facing clients today is the recent failure of two FCMs. In an attempt to assist our clients HighGround provides as much due diligence as possible on our FCM relationships to ensure customer funds are secure in addition to providing our customers several choices of FCMs.
How has the futures and options industry evolved since you first started in business?
The business has moved to the screen from open outcry and allowed more market access to retail clients. Also the number of FCM participants willing to do business with the IB community has contracted.
What do you believe to be the keys to the firm’s success?
The value added services we provide.
What trends are you most excited about?
We feel there are great opportunities to partner with other IBs and assist IBs in converting to branch offices.
What trends are you most worried about?
The recent failure of two FCMs who provided services to many IBs and retail clients.
Why did you become a member of the NIBA?
The IB community needs to have their wants and needs communicated to the politicians in Washington DC, the regulators, and the exchanges. The NIBA is the voice of the IB community and ensures that the wants and needs of all IBs are considered in the decision making process with the politicians, the regulators and the exchanges.
CONTACT:
Mike Burke | mikeb@highgroundtrading.com
tel: 312 604-3043 | www.highgroundtrading.com