The following association events are currently scheduled for 2016. Please mark your calendar now to save-the-dates. If you are interested in being on the planning committee for any meeting, please contact the meeting chairperson. April 20: New York City – Annual east coast meeting held at the New York Athletic Club. Two or three business sessions beginning at about 1:30pm followed by a networking cocktail hour. (CTA Expo NYC is scheduled for April 21, the following day) Chairman: Howard Rennell, [email protected] July 14: Chicago – Co-sponsored event held at DePaul University, downtown Chicago campus. Two business sessions beginning at about…...
NIBA in DC
On November 9, 2015, Steve Petillo, Mike Burke and I travelled to Washington, DC to meet with members of the Commodity Futures Trading Commission at their offices. Here’s a summary of that meeting as well as the other meetings we had while there. We brought three issues which were suggested by NIBA members to the attention of Chairman Massad and Commission Bowen. Both Commissioners, along with their staff, told us that monitoring the effectiveness of Regulation 1.35 (Recording Communication that may lead to a Transaction) and Regulation 1.22 (“Residual Interest”) is ongoing. We reiterated that we believe Reg. 1.35 in…...
Breaking News!
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…...
November Chairman Letter
Dear Members, As you receive this newsletter, the NIBA will be in Washington DC at the office of the CFTC. The talking points/agenda for the Commission, was developed from suggestions made by the membership, and includes: HFTs: What is the Commission’s definition, and what effect that could have on NIBA members. Follow-up on the economic impact of Regulations 1.35 (Recording of Communications which lead to a Transaction). Follow-up on the effect of Reg. 1.22 (“Residual Interest”) on Association members. NIBA is also meeting with the Commodity Markets Council and other industry participants based in DC. A summary of those November…...
NIBA Advisory Group
The NIBA is committed to serving the derivatives industry and as such has created an advisory group to our board. This group of highly qualified industry professionals will help to make our association even better going into our 25th year and add additional value to our members. On December 2, 2015 the NIBA we will hold its inaugural Advisory Group (AG) meeting. The focus of the AG meeting will be to review the mission and actions of the NIBA from the member’s individual expert viewpoint, and advise as to effectiveness and methodology. The individuals that have been invited to participate…...
CFTC Requires NFA Membership for Registered Intermediaries
The CFTC has adopted a final rule, CFTC Rule 170.17, which will require almost all IBs, CTAs and CPOs to become NFA Members. CFTC Rule 170.17 requires each person or entity registered as an IB, CTA or CPO to also be a member of a “registered futures association,” subject to a narrow exception for registered CTAs that meet the requirements of the exemption from registration set forth in CFTC Rule 4.14(a)(9). The NFA is the only registered futures association; thus, most CFTC registrants who are not NFA members will be required to become members of NFA or withdraw their registrations. …...
NIBA in Washington, DC
On November 9, the NIBA will travel to Washington, DC to meet with various members of the CFTC as well as other industry participants, such as the CMC. Melinda Schramm — [email protected], Steve Petillo — [email protected] and Mike Burke — [email protected] will represent the NIBA in meetings with the Commissioners, staff and other personnel. Please contact Melinda, Steve or Mike if you have questions or issues you would like to have discussed. Your questions can be presented anonymously....
NIBA Announces the Formation of its first-ever Advisory Group
NIBA is excited to announce the formation of the NIBA Advisory Group (AG). NIBA, now in its 25th year, is proud to have a distinguished group of individuals working together on initiatives which will grow the association, and help members service their customers more effectively. Individuals serving on the AG each have a unique knowledge of the futures industry, and each has agreed to share their expertise for the benefit of NIBA members. The Advisory Group (AG) will meet in Chicago early December; the term of membership is 2 years. AG Members for 2015 to 2017 include: * Dan Basse,…...
October Chairman’s Letter
Dear Members – On November 9, the NIBA will be in Washington, DC to meet with members of the CFTC, as well as other industry participants. Steve Petillo, Mike Burke and I want to bring those issues which are most important to YOU to the attention of the Commissioners. Please forward your suggestions and questions for the CFTC to anyone of us prior to October 30. On October 12, the University of Illinois sponsored a symposium entitled “How Should We Measure Futures Investment Performance?” Organized by Dr. Paul Peterson, U of I Urbana-Champaign featured four presentations — two presented by…...