Housekeeping, Reminders & Updates – March 2018

Written by: Mark E. Ruddy, Esq., Maria Fielding National Futures Association (“NFA”) Stays Virtual Currency Reporting Requirements NFA announced on December 14, 2017 that it would require additional reporting requirements from commodity pool operators (“CPOs”) and commodity trading advisors (“CTAs”) who are involved in virtual currency transactions and introducing brokers (“IBs”) who accept orders in virtual currency derivatives. On March 27, 2018, NFA released Notice to Members I-18-07 to inform CPOs, CTAs, and IBs that they are currently not required to file the additional reporting requirements previously announced in December 2017. NFA cautioned, however, that it may contact individual firms....

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FinTech Exchange 2018

NIBA Members Receive an Additional $100 Off (Discount already applied) Alternative Data.  Trading Innovation.  Blockchain in Capital Markets.  And, of course Cryptocurrencies are headline topics for 2018!  And, don’t miss our new Startup Exchange Competition the day prior to the main FinTech Exchange Event.  Back for its 4th year in Chicago on April 25 & 26, FinTech Exchange is the leading event for financial markets and trading technology. Hear from top industry experts and firms such as Cboe Global Markets, Kraken, Tibco, Alibaba Cloud, CME Group, DataRobot, Sterling Trading Tech, Gate 39 Media and Vela. Plus we’re offering you an EXCLUSIVE offer which gives....

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Update NFA Annual Questionnaire regarding Virtual Currencies

On December 14, 2017, NFA issued Notices I-17-28 and I-17-29 requiring commodity pool operators (CPO) and commodity trading advisors (CTA) that execute transactions involving virtual currencies or virtual currency derivatives and introducing brokers (IB) that solicit or accept orders in virtual currency derivatives to immediately notify NFA by amending the firm-level section of the annual questionnaire. NFA reminds CPOs, CTAs and IBs that this is an ongoing obligation. Notices I-17-28 and I-17-29 also described additional reporting requirements for these CPOs, CTAs and IBs. The purpose of this notice is to inform CPOs, CTAs and IBs that NFA is not requiring the filing of this additional information....

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CME Market Data Fee Increase

 Effective April 1, 2018, CME Group will increase the monthly Real Time: Professional Market Data Fee to $105 per month per exchange, from $85 per month per exchange. Please click here for details related to these fees.  Additionally, CME Group will begin to charge market data fees for CME Direct users in Q2 2018. Clients who trade on CME Direct may be eligible for fee waivers based on trading activity. Final details will be available by end of Q1 2018. Please click here for details related to this new policy....

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NFA Annual Member Meeting Report

In early February, NFA held its Annual Member Meeting. NIBA attended and asked NFA staff several questions suggested by NIBA association members. The answers to two of the questions asked was printed in our February newsletter. This is a third question, and NFA’s response. Q: What does the NFA do to monitor FCM Segregated Accounts? A: Investor protection is a key element of NFA’s mission, and the segregation of customer funds by an FCM is an important aspect of investor protection.  Each FCM has a designated self-regulatory organization (DSRO) that is primarily responsible for monitoring that FCM for compliance with....

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The Impact of US LNG Exports On The Global Gas Market

New Whitepaper: The Impact of US LNG Exports On The Global Gas Market The LNG market is undergoing a seismic shift driven primarily by the transformation in demand/supply dynamics and market structure. This has facilitated the greater integration of traditionally fragmented regional markets and accelerated the emergence of new market entrants. The combination of these factors has led to the growing commodization of LNG, which is evolving into a global commodity comparable to oil. The new landscape requires new portfolio optimization approaches and commercial considerations. Access Report to Learn More...

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Chairman’s Letter – March 2018

March was named after Mars, the Roman god of war and an ancestor of the Roman people through his sons Romulus and Remus. March is the first month of spring in the Northern Hemisphere. March is widely thought of as the month when the earth becomes dry enough so that it is possible to cultivate in many cultures. In American culture, March Madness – my personal favorite time of the sports year – is a prominent theme! March is another busy month for the NIBA. Traditionally it is the time we reach out to all our sponsors and supporters with....

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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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Ask NFA – Feb 2018

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. Q: What is the time frame....

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Housekeeping, Reminders & Updates – Feb 2018

Written by: Mark E. Ruddy, Esq. Maria Fielding The National Futures Association (“NFA”) Adds Additional Questions on the Annual Financial Statement The NFA announced that as of October 31, 2017, there will be two additional yes/no questions added to the Annual Financial Statement. Both questions are related to virtual currency activities. The NFA announced the additional questions in Notice to Members I-18-03. Financial Crimes Enforcement Network (“FinCEN”) Updates Jurisdictions with Deficiencies On February 9, 2018, FinCEN released an advisory updating their list of strategic anti-money laundering (“AML”) and combatting the financing of terrorism (“CFT”) deficiencies. Notably, Sri Lanka, Trinidad and....

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