Housekeeping, Reminders and Updates – July 2017

Written by:      Mark E. Ruddy, Esq. Jessica I. Brown, CAMS Commodity Trading Advisors (“CTAs”) Third-Party Record Keeping Relief CTAs now have the ability to request relief from certain Commodity Futures Trading Commission (“CFTC”) Regulation 4.33 and 4.7(c)(2) record-keeping requirements. CFTC Exemptive Letter No 17-24 provided CTAs relief from the requirement that books and records must be kept at the registrant’s....

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Dodd-Frank Wants Other Markets to Be More Like Futures Markets – And That’s A Good Thing!

Written By: Leslie Sutphen, President, Financial Markets Consulting, LLC There has been much talk about repealing most of the Dodd-Frank act now that we have a change of party in the Presidency. To many in the futures industry, this seems like a good thing; however, in determining whether the Volcker Rule and Title VII of Dodd Frank should be repealed,....

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Vela Trading Techologies to Purchase OptionsCity

Combined company will deliver an expanded set of front office products and services, including market access, risk management & analytics New York, London, Chicago, June 20, 2017 – Vela Trading Technologies LLC (Vela), a global leader in high performance trading and market data technology, has entered into a definitive agreement to acquire OptionsCity Software, a global provider of futures and....

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John Lothian Keynote Speaker Preview

John Lothian’s keynote speech at the NIBA-DePaul Symposium is titled “Brexit and other Extraordinary Popular Delusions.”  The former Introducing Broker and longtime newsletter publisher will reflect on the potential impact of Brexit and other macro influences on the industry and markets.   If you have not already registered please do so at the following link and keep in mind there is....

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Marketing Managed Accounts & Funds Panel Preview

We are pleased to have a panel this year that will focus on the regulatory considerations—the “traps”—that await CTAs who market funds or managed account programs.  We will center on the key CFTC and NFA rules, and the issues spawned by those rules, and take a peek into the future with respect to potential developments.  Topics will include the treatment....

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Chairman’s Letter – July 2017

“Taking it to a Whole ‘Nother Level” –  Eugene Struthers (2004-2009) Keegan-Michael Key, American writer and actor uttered this famous phrase in character as “Eugene Struthers” on the late night comedy show MadTV each time he expressed his very passionate desire to know more about a person or subject. At the 4th Annual NIBA/DePaul University Joint Symposium, we’ll be taking....

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Illinois Financial Services “Privilege” tax?

By: Scott Kruse – Turnkey Trading Partners The State of Illinois is bankrupt. Whether anyone will acknowledge that or not is up for debate. Readers who are not familiar with the perilous state of financial affairs in Illinois need look no further than any major news publication over the last two weeks. The situation has gotten so dire that even....

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Senate Agricultural Committee Confirms Giancarlo as Chairman for the CFTC

The U.S. Senate Committee on Agriculture, Nutrition, and Forestry this morning voted overwhelmingly to confirm the nomination of J. Christopher Giancarlo as Chairman for the U.S. Commodity Futures Trading Commission. He has served as Acting Chairman since January. This paves the way for his nomination to move forward to consideration on the Senate floor. Read full CFTC Press Release Here...

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NIBA/DePaul University July Symposium

This year’s NIBA/DePaul University Symposium is rapidly approaching and is shaping up to be another excellent event.  Last year DePaul’s rooftop deck was under construction and this year we have the opportunity to enjoy the new and improved facilities for our cocktail reception immediately following the event.  In our last newsletter we proudly announced Mr. John Lothian will be the....

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DOL Fiduciary Rules

Recently, a new rule went into effect at the Department of Labor that may have some implications on your business.   To the extent that you recommend trading systems, CTAs or make investment recommendations to clients with retirement accounts, you should carefully review this information and possibly consult with an attorney on the implications to your business. On a high level,....

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