NIBA’s 3rd Annual Event in southern California was held in Newport Beach, CA February 19, 2015 at the Newport Beach Marriott Hotel. Over 50 industry professionals attended — about 45% registered as CTAs, 45% as IBs and the remainder as FCMs or service providers. Twenty individuals were attending their first-ever NIBA event! Blu Putnam, Chief Economist for the CME Group presented one of two business sessions. He spoke about the economic outlook for the remainder of 2015, covering the topics of International GDP growth in China, Japan and the Euro-zone; The likelihood the Fed will raise rates in 2015; Emerging…...
Chairman’s Letter
Members of the NIBA – Just prior to entering the trading pit in the 1983 film “Trading Places,” Louis Winthorpe, III (as played by actor Dan Aykroyd) declares, “Well, this is it, the last bastion of pure capitalism left on earth.” While there may have been some exaggeration in that comment, it was certainly true that just by talking to a floor clerk or being on the morning call, a broker could form an opinion about market participants and direction for any particular day, and pass that information on to customers located far from the trading floor. On February 4,…...
Chairman’s Letter
Members of the NIBA — By the time this NIBA Journal is posted, the election for the IIB and CTA/CPO positions on the NFA Board of Directors will be completed. As a registrant myself, I am expecting our elected representatives to work closely with NFA staff to form an effective Board. Each of us is entitled to have an NFA Board on which the individuals work as a team in order to develop and implement regulation which makes sense, is cost effective, allows us to run a successful business and offers sufficient protection to our customers and their funds. The…...
NIBA Membership Chairman’s Letter
Dear NIBA Members and Supporters, 2015 NIBA Membership: Thank you for your continued support of the only independent organization supporting IBs, CTAs, and APs. Your support, participation, and your investment in your business is what makes the NIBA possible. If you are not a member yet we invite you to join now. With each new member our influence and voice becomes stronger and everyone in the community benefits. Please take a few minutes to join or renew your membership online. I believe membership in the NIBA is the most efficient and effective way for you to expand your business opportunities…...
NIBA 2015 SoCal Conference Preview
The NIBA is pleased to announce it’s Winter Conference is scheduled for February 19, 2015 in Newport Beach, CA. Below you will find a preview from the conference speakers as well as a link to the agenda and registration page: Blu Putnam, CME Group Chief Economist Join Blu Putnam as he presents his 2015 Economic Outlook, covering topics from international GDP growth in China, Japan & the Euro-zone, to emerging markets, oil-challanged countries & US growth and the likelihood of the Fed raising rates in 2015. Click here for a preview of Blu Putnam’s session Patricia W. McDonald, Partner, Baker…...
NIBA Comment Letters to CFTC Regulation 1.22 and 1.35 Proposed Amendments
On behalf of the NIBA members, the board of directors have submitted the following comment letters to proposed amendments to CFTC Regulation 1.22 and 1.35. NIBA Comments on CFTC Reg. 1.22 (Residual Interest): We agreed with the proposal to eliminate the automatic margin deadline change in 2018. We also agreed that a comprehensive study of whether this rule is enhancing any customer protection and is practical and affordable for the brokerage community as a whole. We once again urged that the NIBA be in on the discussions at the Commission re: the study and any further changes to this…...
Mr. Koutoulas Needs to Prove His Allegations
On December 31, 2014, the John Lothian Newsletter published Mr. Lothian’s own opinion regarding the allegations James Koutoulas has made and publicized about the nominations of public directors by the NFA Board’s Executive Committee. Mr. Lothian was right on point. In a complaint filed with the CFTC, Mr. Koutoulas claims the NFA violated its own rules when it improperly nominated public directors to its Board of Directors in January, 2014. The NFA has denied the allegations, and went to the extent of hiring outside counsel to investigate the charges. That report, issued in February 2014, “concluded that all of the…...
NIBA Endorsements for NFA Board of Directors Election
Members of the NIBA: IB and CTAs join the NIBA for many reasons. One of the most important is to remain current on issues that impact the day-to-day operation of our businesses. The NFA impacts every aspect of our business. That is the main reason it is important to have representatives that stand up for us, and contribute valuable insight, recommendations and methods to the regulatory process. This NFA election is only the second time Board positions have been contested. The NIBA Board of Directors (BoD) believes the trend will continue, and contested elections will become the norm. As a…...
NIBA Announcement–NFA Board of Directors Election Position
The NIBA is pleased to announce that it will be endorsing candidates in both the IIB and CTA/CPO categories in the NFA Board of Directors elections. NIBA has reviewed all position papers submitted to the association by the candidates and will publish its opinion and formal endorsement of the candidate(s) this Thursday December 18th....
Chairman’s Letter
Dear Members: NIBA held its annual elections in November. Ralph Preston (Heritage West Financial, Inc.), was elected to a second three-year term on the Board of Directors (BoD). The BoD appointed Jerry Nolan (County Cork, LLC) to a one-year term, and the following Association officers were elected for the coming year: Steve Petillo (Coquest, Inc.) – President Mike Burke (HighGround Trading, LLC) – Vice-President Shane Stiles (Gate 39 Media) – Vice-President, Media and Communications Buck Haworth (Born Capital Financial Services, LLC) – Treasurer Ryan Griffeth (PostRock Brokerage, LLC) – Secretary John Jensen (Heritage West Financial, Inc.) – Past President All…...