Scott Stewart, NFA Board of Directors (GIB)

Scott Stewart, CEO, Stewart-Peterson Group, was recently elected to the NFA Board of Directors representing the Guaranteed Introducing Brokers category. Stewart-Peterson Group, is an GIB located in West Bend, WI and registered with the NFA since 1985. Scott is a long-time friend of the NIBA, having served as President of the Association for several years. We asked him to “introduce” himself to the NIBA Newsletter readership, and talk about some of the issues at NFA which he feels are important to the IB community….. “I am honored to be on the NFA board of directors. For those of you who…...

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Broker Rebate Program for FANG+ Index Futures on ICE

ICE Futures U.S. introduced NYSE FANG+ Index futures in Q4 2017. The underlying NYSE FANG+ Index was developed by the NYSE and includes 10 actively traded stocks that represent some of the top innovators across today’s tech-oriented companies. The current index composition includes the five core FANG stocks – Facebook, Apple, Amazon, Netflix and Google (Alphabet) – plus another five actively-traded technology growth stocks – Alibaba, Baidu, NVIDIA, Tesla and Twitter.  The index is equally weighted and reconstituted on a quarterly basis, providing a performance benchmark that allows participants to take direct advantage of the capital efficiency of futures. The…...

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Chairman’s Letter – Feb 2018

February: second and shortest month of the year in the Julian and Gregorian calendars In Old English, February was referred to both as “Solmounath” – a month of mud and Kale-mounath – a month of cabbage! Mud and cabbage or not, February is a good month to set your reminders for several upcoming notable events Remember — attendance at NIBA in-person symposiums and webinars is free for members. So, mark the following dates now:             April 19 – NIBA Forum, New York Athletic Club, NYC. Sessions include (i) marketing, (ii) short, critical answers to three…...

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NIBA NYC Conference

This year’s agenda has been posted and Registration is now OPEN for NIBAs annual Spring Conference in New York City.  We will be holding a half day session on April 19th at the New York Athletic Club.  Please see below to register for this year’s event: NIBA NYC Conference

How can an IB Benefit from the Tax Changes?

The tax changes will benefit IBs, CPOs and CTAs since most are organized as corporations or pass thru entities (LLCs , LPs and S-Corps) .  The following will give you a summary of some of the main tax changes that will be effective in 2018.  If you can defer income to 2018 from 2017 it could be tax beneficial to you. The new tax law under the Tax Cuts and Jobs Act includes many changes to the current law and will impact virtually every individual and business on a level not seen in many years. At the business level, the…...

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Chairman’s Letter – Jan 2018

January – the first month of the year in the Julian and Gregorian calendars. January (in Latin Ianuarius) is named after the Latin word for door – ianua, because January is the door to the year and an opening to new beginnings. According to ancient Roman farmer’s almanacs, the month is most often thought of as being named for Janus, the god of beginnings and transitions in Roman mythology. This year NIBA will present three in-person membership events. 2017‘s New York program was standing room only. Registration is already open on the website for this year — April 19th, at…...

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Chairman’s Letter – December 2018

Not Completely Out-with-the-Old: Definitely In-with-the-New The NIBA has had a good year. New members, four great in-person events, over 20 newsletters, and a terrific year-end Advisory Group Meeting. Our partnership with member FCMs, member Service Providers, DePaul University and the CME Group has grown and flourished. NIBA’s voice and input on all types of industry issues including significant regulation, has been strengthened as we were included by the NFA and CFTC in roundtables and on advisory committees. In 2017, Association membership has been free for all registered IBs and CTAs. A firm only has to claim its listing on the…...

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Introducing Broker Survey 2018 – Response Deadline Jan 31st

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…

NFA Additional Reporting Requirements – Virtual Currency Products

Additional reporting requirements for IBs that solicit or accept orders in virtual currency products A number of CFTC-regulated trading venues have launched or announced plans to offer derivatives on virtual currency products, including bitcoin. Given the volatility in the underlying virtual currency products, NFA is requiring each IB to immediately notify NFA if it solicits or accepts any orders in virtual currency derivatives. Until further notice, this obligation will apply on a continuous basis—any IB that does not currently offer virtual currency derivatives must notify NFA if it begins soliciting or accepting orders in these products. Effective immediately, an IB…...

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Chairman’s Letter – Dec 2017

“Elections belong to the people…” Abraham Lincoln, 1809-1865 Abraham Lincoln was the 16th President of the United States from 1861 until he was assassinated in 1865, and stated the above during the Lincoln-Douglas debates of 1858 when he was a candidate for U.S. Senate. The NFA has announced candidates for various positions on its board of directors. The nomination for the Guaranteed Introducing Broker (GIB) position is Scott Stewart, CEO  of Stewart-Peterson Group in West Bend, WI.  Scott served as the Chairman of the NFA IB Advisory Committee for several years, and is a past president of the NIBA. Scott…...

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