Is there one question about running your business that continues to bug you? Join us 1t 1:30PM September 24 at the NIBA Annual Members Meeting in Chicago for the “Top 5 Client Questions – Answered,” a panel discussion. Sponsored by MidlandIRA, this panel is made up of five experts, each with unique knowledge of the futures industry. They will answer the #1 most asked question by their clients. Mike Coglianese, Michael Coglianese CPA, PC moderates this session. Panelists include Angelo Gibaldi, DTG Consulting, Jeff Henderson, Greenberg Traurig; Tom McCarthy, Liccar; and Brad Janitz, MidlandIRA. Register now for September 24, and…...

Dear Members: As we approach our 25th Anniversary Year, I want to emphasize that the mission of the NIBA is to provide education for IBs, CTAs and their APs which enables those registrants to grow their business. Education includes knowledge of regulation and how to comply, product/market updates, and marketing and other business practices unique to the futures industry. We meet the goals of the NIBA mission through the publication of a twice-monthly newsletter, regularly scheduled meetings with the regulators and at in-person conferences. Our annual September meeting is the largest gathering of NIBA members each year. On September 24…...

It has become a tradition to have a great Demo Hall each year at the NIBA Annual Member Meeting in Chicago. And this year, the Demo Hall is exceptional! Included are: Ascent Technology: Cloud-based Regulatory Compliance BarChart: Quote boards, Charts and Custom Workspaces CME Group: Today’s Leading and Most Diverse Derivatives Marketplace Michael Coglianese CPA, PC: Alternative Investment Accounting Delkos Research: Customized Research including Newsletters Great Lakes Credit Union: Personal and Business Accounts Options City: Trading Software Specifically for Options Traders Each of these firms can provide IBs, CTAs and FCMs with products and services unique to the needs of…...

NIBA is pleased to announce that the law firm of Baker & McKenzie has agreed to serve as councel to the Association. The lead attorney for Baker & McKenzie will be Matthew Kluchenek, who serves as the North American head of Baker & McKenzie’s derivatives practice, and who has more than 18 years of regulatory, transactional and enforcement experience working with IBs, CTAs, CPOs and others on futures and swaps matters.   Baker & McKenzie has more than 4,500 lawyers in 77 offices around the world, and the global derivatives team includes more than 20 lawyers. We are excited to have Baker &…...

There was a time, not too long ago, when broker-dealers were perceived as providing value to their customers. They would get on the phone, chat to customers, talk about the markets, and ultimately provide the order placement mechanisms we all relied on to execute our trades. Those days are long gone. With the rise of technology and direct market execution, many broker-dealers and especially introducing brokers have been disintermediated in the trading process. Many introducing brokers specifically have been demoted to being the sales arms of larger broker-dealers, earning pennies in commissions. In his book “Zero to One”, Pieter Thiel…...

Dear Members – I recently completed a survey of registered Introducing Brokers for the guide I am writing for the industry. I have been writing The Complete IB Handbook, now in its 5th edition, since 1999, and I learn a great number of things about our community each time your survey responses are returned.  Of the IBs who responded, about 60% were Guaranteed IBs. Most of those indicated that the capital requirements and the current regulatory environment were the reasons they chose to be registered as GIBs. Over 25% of the respondent firms had been registered for 25 years or…...

Annual Membership Meeting – September 24 – Chicago The NIBA Annual Membership Meeting is scheduled for September 24 at the CME Group Building in Chicago. This is a full-day event and includes a box lunch, cocktail reception and demonstration hall. In 2014, over 250 IBs, CTAs, FCMs and other industry professionals attended. This year’s event includes five business sessions: “The El Nino Effect” – how El Nino will affect the livestock, grain and financial markets “What I Really Want to Know” – the six compliance questions most often asked by IBs/CTAs to their compliance firms and accountants “NFA Representatives Update”…...

Regulatory reminder: Accurate and current business contact information and email address When a firm first applies for registration, the applicant must provide the address of its main office location, its telephone number, and may provide a general email address. The applicant must also list the names, addresses and telephone numbers of the individuals whom the applicant designates as the firm’s contacts for a variety of functions such as compliance, membership and enforcement. Email addresses are required for enforcement contacts and may be added for other contacts as well. On an annual basis, all registered firms must review the information in…...

Thank you to DePaul University and to the speakers at last week’s NIBA/DePaul co-sponsored event in Chicago. Thank you especially to Dr. Carl Luft, Alex Perry, Mark Shore and Dr. Jacob Furst, all of DePaul, who along with Jerry Nolan, Steve Petillo, John Nelson and Holli Kranz of the NIBA, planned and presented the program. Nearly one hundred NIBA members heard sessions on meeting the challenges of marketing managed futures and updates on cybersecurity compliance before joining colleagues at a cocktail reception on the University Terrace. NIBA is in the second year of our academic partnership with DePaul University. A…...

Cybersecurity has been the subject of sessions at both the NIBA New York City event, April 1 and last week’s joint program with DePaul University in Chicago. We will present another full session at our Annual Membership Meeting, September 24 in Chicago, directed at practices to protect your customers’ data, including compliance developments and guidance. Next Monday, June 29, 2:30pm EDT, the Futures Industry Association (FIA) will host a webinar entitled “Cybersecurity Threats: Preparation & Response.” We encourage you to learn more about the Financial Services Information Sharing and Analysis Center and the FIA.  Register here....