On May 18, the NFA held a reception for the House Agricultural Committee and staff at the Longworth Building, Washington, DC. I was asked by the NFA to represent the NIBA. During the event, I met with several members of the committee and their congressional staff. This house committee is responsible for funding the CFTC. The sub-committee oversees our exchanges. My goal was to ensure these very important players in the regulation of our industry understood what the NIBA does, who our members are and what we stand for. I want them to know they can, and often, should reach....
Opportunities in Copper Futures
Opportunities in Copper Futures Designed to meet the needs of a range of market participants as an important risk management tool and investment vehicle, COMEX Copper futures open interest has reached an all-time high on February 13 at 300,966 contracts and YTD ADV up nearly 22% YoY as of the end of May. We encourage you to learn more about Copper Futures opportunities today by accessing CME Group video modules. Get Started...
When Black Swans Aren’t
When Black Swans Aren’t: Geopolitical Risk Management in the Age of “Extreme” Events Thursday, June 22nd, 2017 (11:30 am to 4:30 pm; boxed lunch and reception included) The past year has seen many seemingly unexpected events come to pass, from Brexit to the United States Presidential Election. The upheaval has continued into 2017: the rise of the National Front and Marine Le Pen in the French Election; the growing fractures in long-standing international alliances like NATO, NAFTA, and the European Union; and the wave of autocracy, nationalism, and populist retrenchment in the face of globalization. However, are we witnessing a....
Chairman’s Letter – June 2017
In the Good Old Summertime – Published 1902; Music by George Evans/Lyrics by Ren Shields “In the Good Old Summertime” is an American Tin Pan Alley song first published in 1902. It was one of the biggest hits of that era, going on to appear in many films including the 1949 film of the same name starring Judy Garland and a Mickey Mouse cartoon, circa 1930. The song was featured in the opening paragraphs of the book Elmer Gantry. “In the Good Old Summertime” has been recorded by The Andrew Sisters (1949); Les Paul & Mary Ford (1952); Bing Crosby....
John Lothian to Keynote Joint NIBA/DePaul University Symposium
NIBA and DePaul University will hold the 4th Annual Joint Symposium on July 20, 2017 at the downtown campus of the university. This afternoon event includes three business sessions and a reception. Attendance is complimentary for registered derivatives professionals — registration is required. NIBA is happy to announce John Lothian of John Lothian News as the Keynote Speaker. John’s session will be followed by a Managed Futures session led by Mark Shore, Adjunct Professor, DePaul University and a Marketing session, led by Matt Kluchenek, Baker & McKenzie. Mark’s session is entitled “Allocator Triage/Operational Integrity.” His panel includes Tony Lombardo, AON.....
CME Group Planned Changes to Live Cattle Futures Contract Specifications
The Chicago Mercantile Exchange Inc. (“CME or Exchange”), based on discussions with market participants and with the USDA, intends to implement amendments to its Live Cattle futures contract to alleviate delivery capacity constraints impacting the contract after last trade date. The Exchange intends to implement the amendments, summarized below, as quickly as possible, and potentially beginning with the October 2017 expiration, and seeks industry feedback on the roll-out of the following amendments: Click Here to Read Planned Change to Live Cattle Futures Contract Specifications...
CFTC/NFA Cyber Security: One Year In
By: Greg Baracy, Turnkey Trading Partners As everyone in the Commodity Futures Industry surely knows during March of 2016 the CFTC and NFA implemented cyber security obligations which were applied to all member firms. At that time Futures Commission Merchants (“FCMs”), Commodity Pool Operators (“CPOs”), Introducing Brokers (“IBs”), and Commodity Trading Advisors (“CTAs”) were all obligated to put in place and maintain a written Information Systems Security Program (“ISSP”) specifically tailored to their unique operations. This article intends to identify areas that NFA has focused on during regulatory examinations Turnkey Trading Partners has assisted with during 2017. Ongoing Risks and....
Housekeeping, Reminders and Updates – May 2017
Written by: Mark E. Ruddy, Esq. Jessica I. Brown, CAMS COMMODITY FUTURES TRADING COMMISSION Revisions to Form 8-R The Commodity Futures Trading Commission (“CFTC”) has revised Form 8-R, at the request of the National Futures Association (“NFA”). Form 8-R is the application form for individuals registering as an associated person (“AP”), floor broker, floor trader or to be listed as a principal of an NFA Member firm. The following is a summary of changes to Form 8-R: “Floor Trader Order Enterer” has been added to the list of registration categories. “Floor trader order enterer” is defined as an individual responsible....
Ask NFA – May 2017
As your industry advocate, the NIBA provides many services which help your business stay in compliance with NFA regulations. “Ask the NFA,” is the way you can ask questions about those regulations and compliance requirements without having to call NFA directly. Just email us at [email protected] and we will get the answers for you. Please keep in mind the purpose of this contact is to keep the lines of communication between the NFA and NIBA members. This month’s questions were selected from those submitted by NIBA members. The answers were supplied by NFA staff. Have there been any enforcement related....
