NIBA - Celebrating 35 Years

NIBA Journal

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

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Member Announcements
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Chairman's Letter - March 2018

March 2019 - National Celery Month Paczki Day NIBA is excited to welcome new members: Nanhua USA (FCM); Sudrania Fund Services (Service Provider); and Zilliak Law (Service Provider). March brings changes to policies, rules and regulations that every registered derivatives professional needs to be aware of. First, updates to NFA’s Interpretive Notice regarding ISSPs, including instructions for notifying NFA of a cybersecurity incident go into effect April 1, 2019. Each registrant should review its current policy carefully and make the appropriate updates. During February, the NFA held member workshops to discuss these requirements -- the Notice can be viewed at the NFA’s website. An Interpretive Notice entitled Compliance Rule 2-9: CPO Internal Controls System will also go into effect on April 1. Although the exact system a CPO should adopt will vary according the size and complexity of its operations, this Interpretive Notice lays out certain key components it must...

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Member Announcements
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FANG Market Data Announcement

Trade the top of tech NYSE FANG+™ Index futures Introducing a new market data program NYSE FANG+ Index futures were launched on ICE Futures U.S. in 2017. Comprised of 15 high growth technology stocks, the contract averaged 1,500 contracts/day in 2018 and its momentum continues to grow. Participating market makers maintain a well quoted, liquid market and the product’s commercial success has continued to develop.The unique structure of the index, which consists of some of the largest in tech, has captured the interest of a variety of participants including retail, asset managers, CTAs, institutions, and trading desks. The index composition includes the five staple FANG stocks - Facebook, Apple, Amazon, Netflix and Google (Alphabet) - plus another five actively-traded technology growth stocks - Alibaba, Baidu, NVIDIA, Tesla and Twitter. Equally weighted and reconstituted on a quarterly basis, the contract provides a performance benchmark that allows participants to take advantage of...

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Member Announcements
1 min read

New York, New York

NIBA’s annual conference, scheduled for April 10, will be held at the New York Athletic Club. The Association has held NY meetings for over 15 years -- this is our 5th year in a row at the historic NYAC. The purpose of all NIBA events is education -- education on changing regulation, on compliance and on business growth for all categories of registered derivatives professionals. A standing room only crowd is expected again this year. Business sessions this year could not be more topical! -Mike Coglianese (Michael Coglianese, CPA) will review changes in federal tax laws effecting all of us; -Mike Phillips (VSEC, LLC) will explain amendments to NFA ISSP requirement and how your firm can comply; - Alison Loughlin (CME Group) discusses how this administration’s tariffs and taxes are affecting the markets and your business; - Dr. Richard Sandor will wrap-up the conference with his views from the past...

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Member Announcements
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NFA Members Meeting - Follow Up

On Feb. 5, 2019, I attended the Annual NFA Members Meeting at NFA offices in Chicago. Maureen Downs, Vice-Chairman of the NFA Board of Directors and Tom Sexton, President and Chief Executive Officer of the NFA along with several executive level members of the NFA staff attended the meeting. I was the only attendee from the industry. The following issues were discussed: ISSP Up-dates (Effective April 1): NIBA members had concerns about the cost of implementing new requirements, third-party vendor liability and whether NFA exams in this area would take the form of education versus enforcement for a period of time after the changes become effective. NFA addressed cost concerns by pointing out that although the requirements are specific, implementation is quite flexible -- it should be tailored to the size, type, etc. of the IB itself. This is not a one-size-fits-all issue. All registrants should conduct due diligence on...

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Member Announcements
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Chairman's Letter - February 2019

February in Chicago has begun in the deep freeze. Dangerous, record-setting temperatures meant kids missed school, and meetings were cancelled. The NIBA Board of Directors used the time to put the finishing touches on the NIBA Annual New York City Event. Our Annual NYC event is scheduled for April 10th. Four business sessions and a networking reception begin at 2pm (onsite registration open at 1:30pm) at the New York Athletic Club, the site of our meetings for the past five years. Registration is open. The NFA held its annual members meeting at its Chicago office on Feb. 5. I attended and took several questions from members to discuss with NFA staff. Read a summary of that meeting here. NFA will conduct two workshops later this month -- Feb. 25 in Chicago and Feb. 27 in New York. Cybersecurity, including the recent amendments, NFA updates and recent examination themes will be...

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Member Announcements
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Taxes & Tariffs NYC

Alison Coughlin will discuss current macroeconomic conditions and explore their potential impact on domestic and global agriculture. This presentation will include a dialogue about the trade war with China, an examination of other free trade agreements, and what these shifts may mean for the future of the agricultural sector. Register here to reserve your spot now Alison Coughlin Manager Research and Product Development CME Group Inc.

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