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Member Announcements

June 13, 2017

2 min read

NFA/NIBA - Washington, D.C.

On May 18, the NFA held a reception for the House Agricultural Committee and staff at the Longworth Building, Washington, DC. I was asked by the NFA to represent the NIBA. During the event, I met with several members of the committee and their congressional staff. This house committee is responsible for funding the CFTC. The sub-committee oversees our exchanges. My goal was to ensure these very important players in the regulation of our industry understood what the NIBA does, who our members are and what we stand for. I want them to know they can, and often, should reach out to us directly when they are debating issues that will affect our daily business lives. This was the first large scale informal setting meeting between the NFA and house members in a long time -- about 10 years, I think. Our IB and CTA representatives to the NFA Board...

Opportunities in Copper Futures

Opportunities in Copper Futures Designed to meet the needs of a range of market participants as an important risk management tool and investment vehicle, COMEX Copper futures open interest has reached an all-time high on February 13 at 300,966 contracts and YTD ADV up nearly 22% YoY as of the end of May. We encourage you to learn more about Copper Futures opportunities today by accessing CME Group video modules. Get Started

When Black Swans Aren't

When Black Swans Aren’t: Geopolitical Risk Management in the Age of “Extreme” Events Thursday, June 22nd, 2017 (11:30 am to 4:30 pm; boxed lunch and reception included) The past year has seen many seemingly unexpected events come to pass, from Brexit to the United States Presidential Election. The upheaval has continued into 2017: the rise of the National Front and Marine Le Pen in the French Election; the growing fractures in long-standing international alliances like NATO, NAFTA, and the European Union; and the wave of autocracy, nationalism, and populist retrenchment in the face of globalization. However, are we witnessing a series of "black swan" events? Could we see any of this coming? What types of models and practices can be used to identify and absorb the myriad financial, strategic, political, and operational risks associated with the current global upheaval and the realities of the twin, competing forces of populism and...

Chairman's Letter - June 2017

In the Good Old Summertime - Published 1902; Music by George Evans/Lyrics by Ren Shields “In the Good Old Summertime” is an American Tin Pan Alley song first published in 1902. It was one of the biggest hits of that era, going on to appear in many films including the 1949 film of the same name starring Judy Garland and a Mickey Mouse cartoon, circa 1930. The song was featured in the opening paragraphs of the book Elmer Gantry. “In the Good Old Summertime” has been recorded by The Andrew Sisters (1949); Les Paul & Mary Ford (1952); Bing Crosby (1954) and Connie Francis (1961), as well as the John Phillip Sousa Band (1903) and Nate King Cole (1963). Here in Chicago, the good old summertime has finally arrived. This summer there is much for the NIBA to do. On July 20, we hold our 4th joint symposium with DePaul...

John Lothian to Keynote Joint NIBA/DePaul University Symposium

NIBA and DePaul University will hold the 4th Annual Joint Symposium on July 20, 2017 at the downtown campus of the university. This afternoon event includes three business sessions and a reception. Attendance is complimentary for registered derivatives professionals -- registration is required. NIBA is happy to announce John Lothian of John Lothian News as the Keynote Speaker. John’s session will be followed by a Managed Futures session led by Mark Shore, Adjunct Professor, DePaul University and a Marketing session, led by Matt Kluchenek, Baker & McKenzie. Mark’s session is entitled “Allocator Triage/Operational Integrity.” His panel includes Tony Lombardo, AON. Matt’s session is entitled “Marketing Managed Accounts & Funds: Regulatory Traps and Considerations” and will focus on the numerous enforcement actions regarding performance figures, and the JOBS Act in the context of marketing a fund, among other issues. His panel members include: Turnkey Trading Partners, Shane O’Mara, NFA and Chris...

CME Group Planned Changes to Live Cattle Futures Contract Specifications

The Chicago Mercantile Exchange Inc. ("CME or Exchange"), based on discussions with market participants and with the USDA, intends to implement amendments to its Live Cattle futures contract to alleviate delivery capacity constraints impacting the contract after last trade date. The Exchange intends to implement the amendments, summarized below, as quickly as possible, and potentially beginning with the October 2017 expiration, and seeks industry feedback on the roll-out of the following amendments: Click Here to Read Planned Change to Live Cattle Futures Contract Specifications

Agricultural Options Update

Get the latest on volatility, volume, spreads and more...... This month's update includes: Low implied volatility for Grains & Oilseeds Call skew higher for Grains & Oilseeds Hog & Feeder volatility elevated VIEW FULL REPORT  

E-mini Russell 2000 Futures and Options Return to CME Group on July 10

The launch of E-mini Russell 2000® Index futures and options will extend an already broad selection of benchmark U.S. index contracts and offer you even more ways to manage risk and tap into liquidity. With more products, more ways to trade, and more capital efficiencies, get ready for a great return. Sign Up to Stay Up to Date  

Joint NIBA/DePaul Symposium (July 20th)

Mark your calendars now for the 4th Annual Joint NIBA/DePaul University Symposium at the DePaul downtown campus, Jackson and State Street from 1:30 - 6:30pm. Sessions are currently being confirmed. Tentative: When was the last time you reviewed your marketing approach? Are you getting the results you want? How confident are you, your approach is meeting current compliance standards, including those for social media? Hey, CTAs/FCMs -- are your operations watertight? Will the allocator you want to do business with, see it that way? All sessions are open to all industry professionals - FCMs, CTAs/CPOs, IBs and APs, as well as Service Providers. There is no charge for the event. Registration to open shortly. Jerry Nolan, jnolan@countycorkllc.com is the NIBA board member chairing this event. His committee includes Steve Petillo, Mike Burke, Katy Tervin, Charles Starnes, Andrew Straussman, Mark Shore and Mark Washack. Contact Jerry to volunteer or with questions...

Chairman's Letter - May 2017

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....

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