NIBA - Celebrating 35 Years

NIBA Journal

Insights, analysis, and updates from the National Introducing Brokers Association

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Member Announcements
1 min read

CME Group/Purdue Ag Economy Barometer

We’re pleased to announce that CME Group and Purdue University have partnered to introduce a new economic indicator to measure the health of the U.S. agricultural economy – the Purdue/CME Group Ag Economy Barometer. Each month, the Ag Economy Barometer will provide a sense of the agricultural economy’s health with an index value based on a survey of 400 agricultural producers on economic sentiment. We’re working with Purdue to provide this new tool to agricultural customers, agribusiness thought leaders, academics, members of the press and other market participants as we believe it will provide an essential resource for monitoring the health of the food industry and vital insight into the global economy. The Purdue/CME Group Ag Barometer will be available on a monthly basis at www.purdue.edu/agbarometer. Some additional resources: USA Today: Conditions improve, but farmers not optimistic. Video explainer: Introducing the Ag Economy Barometer News release: http://cmegroup.mediaroom.com/2016-05-03-Purdue-CME-Group-to-take-monthly-barometer-of-confidence-in-agricultural-economy

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Member Announcements
2 min read

NIBA-DePaul Arditti Center Intern Program Announcement

NIBA Joins with DePaul’s Arditti Center on an Intern Program NIBA is excited to announce our joint effort with DePaul University’s Arditti Center to develop and implement an Intern Program for NIBA members. The purpose is to provide mutual value through appropriate matches of a student’s interest and capacity, with the specific interest and needs of a NIBA member. The Arditti Center has a strong record of attracting high quality students to their program(s), and most candidates for interning at our firms will be students at the financial/risk management Center. As such, NIBA members can expect the student to be highly competent and driven to “get things done.” DePaul is committed to the success of this program, and will assist in selecting candidates most likely to deliver value to the Member office. NIBA is committed to assuring a rewarding learning and growth experience for each student. This benefit is available...

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Member Announcements
1 min read

NYC Recap

Thank you to NYC Speakers/Sponsors Thank you to the Speakers and Sponsors of last week’s Member Event in New York City. For the third year, NIBA members met at the New York Athletic Club for an afternoon of business sessions and networking. Thank you to our Event Sponsors CME Group and Straits Financial. Thanks also to last week’s speakers. In the coming weeks, we will be featuring articles written by the speakers - each one an expert in the industry. Please feel free to contact directly anyone with whom you would like to follow-up. Product Sessions: James Steel, james. steel@us.hsbc.com (Metal update & statistics) Al Helmig, helmig.albert@gmail.com (Changing Ownership of Crude Futures) Brian Milne, brian.milne@dtn.com (Oil & Gas: All Stored Up w/Nowhere to Go) Cybersecurity: Rob DeMuria, rdemuria@compliancesupervisors.com Amy McCormick, AMcCormick@nfa.futures.org Michael Brice, michael@bwcyberservices.com Ted Theisen, ted.theisen@unitedlex.com Howard Rennell, The Windham Group and NIBA Board Member was the chairperson of...

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Member Announcements
2 min read

April Chairman’s Letter

Dear Members - On March 1, 2016, the NFA’s Cybersecurity Interpretive Notice became effective. It requires NFA Member firms to adopt and enforce written policies and procedures to secure customer data and access to their electronic systems. The notice applies to all membership categories including IBs, CTAs, CPOs, swap dealers and forex dealers. During the past month and a half I’ve had several discussions with IBs and CTAs who were not aware of their obligations under this Notice, and what actions were needed in order to remain in compliance as NFA Members. On April 20, NIBA will host a panel discussion focused on the key areas of the Interpretive Notice including a description of the safeguards against identified system threats and vulnerabilities, and a description of your firm’s ongoing education and training related to information systems security for all appropriate personnel. I strongly urge you to attend this session presented...

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Member Announcements
2 min read

Celebrate CFTC SmartCheck Week

Celebrate SmartCheck WeekSM with us, April 11?17, by following us at our new U.S. Commodity Futures Trading Commission (CFTC) SmartCheck pages on Facebook and Twitter. SmartCheck Week is an effort to encourage all consumers to check the background of their financial professional at least once a year. The CFTC?s Office of Consumer Outreach encourages you to promote this week to your audience through social media, newsletters, and email. Templates for these communication methods are below and available for your use. Through these channels, we look forward to increasing contact with you and striving to improve investors? financial health. Everyone benefits when investors are more informed and that begins when they work with a legitimate financial professional. Social Media Resources Use these sample social media posts to promote SmartCheck Week to your network: Sample tweets. (Please use related hashtags): Have you checked the background of your financial professional lately? Do it...

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Member Announcements
1 min read

Changing Ownership of Crude Futures Open Interest/Status of Barrel Ownership- NYC Session Preview

Over the last 6 years the crude oil market has had a material change in market structure.The changing landscape of regulation, capital requirements and the withdraw of participation by certain market participants has changed the open interest formation. Open interest has basically double in this period while volumes have remain relatively unchanged. With the shift of the geographic demand to Asia across all commodities , it is interesting to note some of the uniqueness of Asia demand. The other feature of the market is the dramatic change in the forward curve.$100 crude had a backwardation of $20, now we live in the steep contango market and storage availability has become a focal point. The vast majority of volatility has been in the front end of the curve. The distant dates have also had a major shift. As a former commodity merchant , the commercial trade always believes the real story...

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Member Announcements
3 min read

Oil and Gas: All Stored Up with Nowhere to Go - NYC Session Preview

At What Price will Crude Futures End 2016? Current forecasts for the end-year price level for US crude oil are in sharp disagreement, as market observers’ debate the effect of record high oil inventories, strong demand, and the impact sharp cuts to capital expenditures for drilling and expected energy company bankruptcies will have on new production. Price volatility for West Texas Intermediate futures on the New York Mercantile Exchange was high in the first quarter, with market participants whipsawed with a price plunge to a $26.05 bbl nearly 13-year low before rallying 61% to $41.90 five weeks later. Sentiment turned bullish as Saudi Arabia and Russia floated a proposal to freeze production at their January output rate even though analysts poked holes in their plan, highlighted by a production ramp up by Iran. Iran had just won relief from sanctions on its crude exports in January, and is determined to...

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Member Announcements
1 min read

NIBA at the RJO Annual IB Conference

NIBA wants to thank RJ O’Brien for inviting us to exhibit and attend its Annual IB Conference March 4 and 5. It was great to see NIBA members who clear through  RJO and to participate in the sessions and social events. RJO is a founding member of NIBA. Participating in their conference is another wonderful way to celebrate NIBA’s 25th Anniversary Year.   Pictured below from left to right of top picture: Frank and Linda Stone, KC Trading Group, Melinda Schramm, NIBA Chairman and Kevin Craney, RJO Oasis. Lower picture: Jerry Nolan, Melinda Schramm, Shane Stiles

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Member Announcements
1 min read

NIBA New York City Event- April 20th

April 20 - New York City All members are invited to the NIBA Spring Membership Meeting April 20 at the New York Athletic Club in New York City. Onsite registration opens at 1:30pm. The program closes at 5:00pm with a Networking Cocktail Reception. Registration is open now. The afternoon’s agenda includes*: *Two market updates presented by industry experts: Metals Update-- Jim Steel of HSBC Changing Ownership of Crude Futures Open Interest/Status of Barrel Ownership--Al Helmig, Grey House Energy market outlook-- “Oil & Gas: All Stored UP and No Where to Go” presented by Brian Milne of Schneider Electric *Cybersecurity Compliance Panel including: Rob DeMuria, Compliance Supervisors Ted Theisen, UnitedLex Amy McCormick, National Futures Association Michael Brice, B(W) CyberServices This program is complimentary for all NIBA members, including IBs, CTAs, FCMs and Service Providers. CTA EXPO/ New York will be held April 21 - the day following NIBA. For questions, suggestions...

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Member Announcements
1 min read

Thank You - FCMs and Service Providers

Thank You - FCMs and Service Providers On February 25, NIBA held its annual thank-you reception for member FCMs and Service Providers. Thirty-nine guests attended the event held at Pazzo’s Restaurant in Chicago. We appreciate the support our ten member FCMs show NIBA and to the entire IB and CTAs community. FCM members have sponsorship opportunities throughout the year, are featured in our newsletter and rotate as advisors to the Board of Directors. If you would like to become an NIBA FCM Member, please contact Mike Burke, mikeb@highgroundtrading.com or Mike Coglianese, mike@cogcpa.com. Service Provider members provide the unique products and services needed for us to carry on our businesses while staying in compliance and up-to-the minute. Service Providers can join NIBA in three categories and receive various benefits in each. If you would like to become an NIBA Service Provider Member, please contact Ralph Preston, rpreston@hwfi.com. As we celebrate our...

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