Insights, analysis, and updates from the National Introducing Brokers Association
Congratulations to ADMIS on a terrific IB Conference. It was well-planned, well-executed and well-attended! Thank you to all at ADMIS for including us at the event and for the continued support of the NIBA
“Cheers to a new year and another chance for us to get it right.” Oprah Winfrey, 1954- Oprah Winfrey is an American media proprietor, actress, producer & philanthropist. Looking back on 2016, I thought her words were particularly appropriate to our industry going forward into the new year. CFTC Chairman Massad has indicated he will leave the Commission on January 20, before his term is officially over. He has been outspoken in his support of AT regulation, particularly in favor of allowing certain proprietary information, sometimes referred to as “the secret sauce” of a trader’s program, to be accessed by the Commission without the use of a subpoena. As Chairman, he has also overseen the heavily criticized position limit proposals. It is rumored the new administration favors current Commissioner Giancarlo to take over the chairmanship at the CFTC. During our meeting with Mr. Giancarlo in October, we reiterated NIBA’s...
The 2017 NIBA conference schedule kicks off the year in toasty Southern California on February 23, in beautiful Newport Beach. This will be followed by our spring meeting in New York City in late April and then our fall event in Chicago. The SoCal conference brings a little bit of Chicago and New York - the centers of futures trading to distant Southern California. Attendees are afforded the rare opportunity to hear a panel of experts on important topics critical to the growth and success of their businesses. The afternoon conference will consist of three business sessions followed by a hosted networking reception: Macro-economic Outlook 2017 - Erik Norland - Executive Director and Senior Economist of CME Group. Erik Norland, Executive Director and Senior Economist of CME Group will present his overview of the entire economic spectrum in his presentation on the 2017 macro-economic outlook. Topics will include: The impact...
Pending CFTC regulatory approvals and review periods, below provides a summary of the January 1, 2016 pricing changes for each of the product exchanges: CME, CBOT, NYMEX and COMEX. Please see link below for a detailed breakdown of the CME Group's fee increase CME Group Exchange & Clearing Fees
The NIBA is excited to announce the date has been set for this year's NYC program. Please mark your calendars for April 26, 2017. We have established new partnerships and are finalizing an exciting line up for this year's program. Look for additional details to be announced in upcoming newsletter publications. Please contact the NYC Program committee chairman with any questions or comments: Howard Rennell, hrennell@e-windham.com
At the December 1 meeting of the Board of Directors, the NIBA elected the following officers for 2017: President - Mike Burke, Highground Trading Vice-President - Shane Stiles, Gate 39 Media Vice-President/Secretary - Ryan Griffeth, Postrock Brokerage Treasurer - Mike Coglianese - Michael Coglianese, CPA Past President - John Jensen, Heritage West Financial Immediate Past President - Steve Petillo, Nevermore Alternatives NIBA officers also serve as the Executive Board of the Association. Melinda Schramm, MHS Capital Resource serves as the Chairman of the Board. John Jensen was elected by the membership to serve a one year term on the board. All other members remain for the year 2017. Committees for 2017 are being formed during December and will be announced in the January newsletter.
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....
On November 30, the NIBA Advisory Group (AG) met in Chicago. The AG is a group of industry participants, each of whom has expertise in a specific area of the business. Expertises range from marketing to education, from legal to cybersecurity. This group met for the first time in 2015; members committed to a 2-year term. The mission of the AG is to share ideas for the growth and continued relevance of the NIBA. As a result of the first AG meeting held in December, 2015, the following three suggested topics were selected by the NIBA Board of Directors to implement because of their value to association members, and reasonable cost/speed of implementation. Intern Program: We are currently working with De Paul University, Chicago to place students with NIBA members and service providers. Jerry Nolan (jnolan@countycorkllc.com) and Tom Sandy (ts@ricedairy.com), Co-chairs. Resource Program: In the past year, we opened a...
February 23, 2017 - Newport Beach, CA -- Sunny southern California in late February -- what could be better? Mark your calendar now for the NIBA 2017 Winter Membership Meeting, February 23 at the Newport Beach Marriott, Newport Beach, CA. A networking cocktail reception immediately follows the business meetings. This afternoon of education includes a presentation by Erik Norland, CME Group discussing the affect of various 2016 events, including Brexit, US trade policy and immigration reform on the markets and on our businesses. Additional sessions to be announced. This event is sponsored by the CME Group; sessions also sponsored by Phillip Capital USA. Registration will open on the NIBA website in early January, 2017. Questions/suggestions: please contact John or Ralph, NIBA Co-chairs. John Jensen, jjensen@hwfi.com Ralph Preston, rpreston@hwfi.com
The NIBA Internship Program is underway! The idea for this internship program was proposed and found strong support among NIBAs Advisory Group. Qualified students will be matched with members looking for candidates trained in a broad array of critical sectors, including Finance, Statistics, Media, Marketing, and Law. The goal of our program is to foster meaningful development - for both the interns and the member. NIBA and DePaul are currently working together to ensure a successful match of prospective interns with NIBA members. Please visit the NIBA Journal to view the current list of prospective interns. The prospective intern list will also be available on the new Member Portal very soon. The board asks all members- yes you- for constructive ideas toward strengthening the value of this program. NIBA members interested in learning more about the program or specific information on a prospective intern are encouraged to contact NIBA. Jerry...
