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On November 9, NIBA traveled to DC to meet with CFTC Commissioner Bowen and CFTC Chairman Massad. Issues suggested by the NIBA membership were discussed — HFT definitions and CFTC Regulations 1.35 and 1.22. Steve Petillo, Mike Burke and I prepared a list of talking points and delivered them in advance of our meeting. In addition to putting issues that are important to our membership in front of the Commission, these sessions with the CFTC serve the purpose of reminding the regulators that the NIBA is a very special trade association. Unlike most industry organizations, we don’t have an office…

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