NIBA - Celebrating 35 Years

NIBA Journal

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

Member Announcements
2 min read

Chairman's Letter - December 2019

Candy Canes and Cocoa Tariffs, Brexit, weather, trade wars -- 2019 has been quite a year. Even as markets and market participants have worked their way through disruption, NIBA has helped our members and their customers understand and use new rules, new products - indeed, new trading platforms! December marks the 28th and one/half anniversary of the NIBA. From a group primarily made-up of ag-related IBs who held their first planning meeting in a small room at the Italian Village Restaurant in Chicago, NIBA has grown to represent all IBs and CTAs who place trade globally for their customers. We have the support of all domestic FCMs that handle substantial retail business and service providers with unique products for the industry. NIBA is recognized and respected by our regulators, serving on advisory and committees, and called upon when comment and opinion is needed. To paraphrase a 1980’s perfume commercial, “We’ve...

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Member Announcements
1 min read

NIBA Advisory Group

Thanks NIBA Advisory Group! Huge thanks to the NIBA Advisory Group (AG) for a great meeting! Group Chairman/NIBA board member Rodney Dow, R.W. Dow Corp., led the meeting on December 4 in Chicago. Each member came prepared to discuss the appropriateness/effectiveness of NIBA’s in-person events, its newsletter and the overall focus of its representation of its members. At the end of the afternoon, the AG concluded by identifying several areas in which NIBA could do better! NIBA’s Board of Directors will be working on the AG’s suggestions throughout 2020 - contact Rodney, rodney@dowcorp.com or Melinda, melinda@futuresrep.com if you want to add any suggestions or help implement NIBA’s move into and through 2020! Thank you to all who attended the reception following the meeting and to all who serve - Rodney Dow (Chairman), R.W. Dow Corp Makenzie Billings, CME Group Mike Dancey, MARI Rob DeMuria, Compliance Supervisors, Inc. Paul Georgy, Allendale,...

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Member Announcements
1 min read

NIBA NYC - April 22, 2020

Have you registered for the 8th Annual NIBA Spring Members Event -- it is scheduled for April 22 at the New York Athletic Club. The afternoon event includes: What’s Going on with Interest Rates? Answers to Your Biggest Compliance Questions -- AML & Cybersecurity Tariffs, Weather and More - What every Broker Needs to Know “Armchair Icon” Cocktail Reception Registration is open now. This is NIBA’s 8th meeting at the New York Athletic Club -- it’s a beautiful place to connect with old friends and make new ones. Questions or suggestions - contact Howard Rennell, hrennell@e-windham.com or Steve Petillo, spetillo@straitsfinancial.com.

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3 min read

NFA Dues surcharge for certain Member firms engaged in Swaps Activities

Effective date of dues surcharge for certain Member firms engaged in swaps activities In May 2019, NFA issued Notice to Members I-19-13 announcing that NFA's Board of Directors approved an annual dues surcharge of $1,750 on certain NFA Members including FCMs for which NFA is the DSRO, IBs, CPOs and CTAs that are approved as swap firms pursuant to NFA Bylaw 301(l)1. The Board determined to impose this surcharge on these firms since NFA does not currently assess any fees related to NFA's oversight of their swaps activities. The CFTC recently approved the amendments to NFA Bylaw 1301 imposing this dues surcharge. Effective date The dues surcharge will become effective on January 1, 2020 and will be included in all invoices of swap-approved or swap-pending Member firms for membership dues payable after that date. NFA will invoice the new membership dues for the following membership year approximately 45 days before...

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Member Announcements
1 min read

NIBA Annual NYC Meeting - April 22

Registration is now open for the NIBA annual event in New York City. We will meet on the afternoon of April 22 for the seventh year in a row at the New York Athletic Club. We already have sessions in planning on compliance (with the NFA) and product/markets updates (with industry experts). The afternoon includes three-four business sessions and a networking cocktail reception. You will leave with actionable, affordable ideas to: - Grow your business - Better service your customers - Stay in compliance - And, make and renew professional and personal friendships. This year’s committee is chaired by Steve Petillo, spetillo@straitsfinancial.com and Melinda Schramm, melinda@futuresrep.com, and includes Andrew Aronson, andrew@ascentcm.com, Howard Rennell, hrennell@e-windham.com and Ryan Griffeth, ryan.griffeth@postrockbrokerage.com. If you’d like to volunteer for this committee or for any NIBA conference committee, please contact any of the above.

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Member Announcements
2 min read

Chairman's Letter - November 2019

Turkey, Pumpkin Pie & Vodka Martinis It’s election time again. NFA has announced candidates for terms expiring -- you should have received their notice. This year, all candidates are running unopposed. Official results of that election will be announced in January. NFA is also launch several updates to the ORS system. The changes will include updates to applications and processes for both firm and individual registrations. NFA is holding a webinar on November 25 to explain updates - you must register to attend. NIBA also sent notice of two nominee candidates for our Board of Directors. Katie Tervin (Zaner Group) and John Roe (BTR Trading) are longtime members of NIBA - each has volunteered to plan and implement conferences and various other projects for years. The results of that election - along with various board-appointed positions, will be announced in December’s association newsletter. NIBA welcomes Phillip Capital as an Annual...

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3 min read

GCSI 2019 Cyber Security Conference

GCSI is returning this year after bringing together executives, thought leaders, and experts from Chicago's F500 companies and government entities at our first conference in 2018. This year, we're are bringing together more than 200 high-level cybersecurity leaders, senior executives, C-level executives, CISOs, compliance specialists, and security officers for sessions focused on Cyber Security, Strategy, and Risk & Budgeting. The GCSI conference is a partnership between the Illinois Institute of Technology (IIT) and Pan Asian American Business council (PAABC). We will host our second GCSI conference from 9am to 6pm, Friday, November 13 at Chicago - Kent College of Law, 565 W. Adams St., Chicago. GCSI was organized in October 2016 to address the SEC and FINRA’s annual areas of concern for their member firms. Since then we've brought together hundreds of CXO leaders from companies like Wealthfront, VSEC, CNA Insurance, University of Chicago Medicine, Northern Trust, Paylocity, CISO Spotlight,...

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Member Announcements
2 min read

NFA webinars for Swaps Proficiency Requirements Administrators

NFA's Swaps Proficiency Requirements will launch and become accessible online on January 31, 2020. For details regarding who must fulfill these requirements, see Notice to Members I-19-09. Each NFA Member with associated persons (AP) required to take these requirements must designate at least one Swaps Proficiency Requirements Administrator (SPR Admin) who will coordinate enrollment and track progress. An SPR Admin must also be an ORS Security Manager. An NFA Member may designate an SPR Admin(s) on or after November 1, 2019. NFA will email specific instructions and the relevant link to Members on November 1st. NFA will hold the first of three webinars for SPR Admins next Wednesday, October 23, 2019 at 9:30 a.m. CT/10:30 a.m. ET. If you've already registered, thank you. We look forward to your participation. If you are interested in attending and haven't yet signed up, register now. NFA will hold two additional, identical webinars on...

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