NIBA Members & Colleagues –
In 1999, the first year I partnered with the CME Group to write The Complete IB Handbook, there were 1,564 firms registered with the NFA as Introducing Brokers (IBs) — 404 as Independent (IIBs) and 1,160 as Guaranteed (GIBs).
By 2012, while the industry was still reeling from the failures of MF Global and Peregrine Financial Group, and the IB community suffered terribly as a result, the NFA reported a total of 1,348 registered IBs — 497 IIBs and 851 GIBs.
Throughout industry ups and downs, IBs have continued to play an essential role, bringing both hedgers and speculators into the market. IBs have grown and evolved along with the needs of their customers and the globalization of the industry. Your IB provides unique, customized services to your clients alongside all the “basics” necessary to participate in the fast-moving, highly competitive marketplace.
During November of 2017, NFA records indicated there were 1,201 entities registered as IBs — 586 as IIBs and 615 as GIBs. The Complete IB Handbook discusses some of the reasons for the shift in registration status in addition to providing a business blueprint for both the start-up and experienced IB.
I wrote the survey the CME Group recently sent you. I use the information you provide to update the Handbook, keeping it current and relevant. The CME Group uses your feedback in significant part, to determine how effective its education and marketing reach-out is, and how to change or update the reach-out to better provide you with all the tools you need to service your clients.
Please review and return the IB Survey today. If you have any questions or suggestions, please don’t hesitate to contact me, [email protected] or Barbara Schmidt-Bailey at the CME Group, [email protected], No individual is ever identified; the survey results are reported in the aggregate.The completed handbook will be available on the CME website and on the NIBA website early second quarter 2018.
Thank you, Melinda