Increased Financial Disclosures by FCMs for the Trading Community

As of September 1st, the NFA increased the financial reporting requirements for FCMs who hold customer funds pursuant to Section 16. In an effort to increase disclosure for the brokerage and investing community, the NFA’s Board of Directors decided in August to make those disclosures available on each FCM’s BASIC page. These reports should be available by November 1st. They…...

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CME has deal to acquire Kansas City Board of Trade

CME Group said it is buying the Kansas City Board of Trade for $126 million in cash. The derivatives exchange said buying the bourse, its first exchange purchase in five years, is a way to expand its agricultural products. The KCBT’s board selected CME over other exchanges, including BATS Global Markets and IntercontinentalExchange, sources said. The proposed deal makes the…...

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District Court Overturns CFTC Position Limit Rule

FIA Special Alert Sept. 28, 2012 District Court Overturns CFTC Position Limit Rule Today the US District Court for the District of Columbia struck down the CFTC’s position limit rule, which was scheduled to go into effect on October 12, 2012. The court ruled in favor of the plaintiffs?the International Swaps and Derivatives Association and the Securities Industry and Financial…...

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NFA announces second New York regulatory workshop for entities that currently operate commodity pools whose exemptions expire on December 31, 2012

September 25, 2012 NFA announces second New York regulatory workshop for entities that currently operate commodity pools whose exemptions expire on December 31, 2012 NFA will present an encore workshop in New York for entities that, due to the recent CFTC rule amendments, are operating or advising commodity pools that had previously been exempt from registration as CPOs or CTAs.…...

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CFTC Regulation 1.71 – Conflicts of Interest

The Commodity Futures Trading Commission (CFTC) recently adopted CFTC Regulation 1.71 to implement new section 4d(c) of the Commodity Exchange Act, which requires FCMs and IBs to implement a conflict of interest system and procedures with respect to its research function and its trading and clearing activities. Except as for the requirements under Regulation 1.71(d) related to clearing activities, FCMs…...

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Your FCM; Hero or Villain? Part II

Although it seems like only yesterday the National Introducing Brokers Association (“NIBA”) panel on “Assessing FCM Risk” took place over two weeks ago. If you were part of the standing room only audience thank you for attending! Your support meant a great deal to NIBA, Turnkey Trading Partners, and the other panelists. If you weren’t able to attend this year’s…...

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Family Farmer & Rancher Fund Applications Due

Following the insolvency of PFGBest, CME Group has been accepting applications from farmers, ranchers and agricultural co-operatives to register for benefits under the CME Group Family Farmer & Rancher Protection Fund. In order for CME to begin paying benefits to qualifying customers under this Fund, Applications must be received by the close of business at 5:00pm Central Time, Friday, October…...

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This Year is all About the Weather | Chicago Conference Follow Up

U.S. corn and soybean yields were dramatically reduced by the drought and heat wave of 2012. Hints of the drought began in mid-May as the coverage of subsoil dryness rapidly increased. Drought conditions reached a breaking point in mid-June when it became apparent that unusual warmth dating to November 2011 would continue. Close monitoring of weather and soil conditions helped…...

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Industry Snapshot: Introducing Broker Business Today

“The information detailed below is taken from an online survey of current NFA registered Introducing Brokers (IBs) conducted in July 2012. The survey contained a series of questions ranging from operational preferences to the effects of recent devastations as a result of the MF Global, Inc., (MFG) and the Peregrine Financial, Inc., (PFG) failures on the IB community.” » View…...

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Chief Compliance Officer Requirements Become Effective for Certain FCMs on October 1, 2012

Notice to Members I-12-21 September 14, 2012 Chief Compliance Officer Requirements Become Effective for Certain FCMs on October 1, 2012 Effective October 1, 2012, FCMs that are currently regulated by a U.S. prudential regulator or that are also in some capacity registrants of the Securities and Exchange Commission must have a designated Chief Compliance Officer (CCO) under CFTC Regulation 3.3,…...

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