NIBA – What is it? Who is it? by Melinda Schramm, Founder & Chairman

NIBA is the membership association for derivatives professionals. Founded in 1991, membership is primarily made up of Introducing Brokers and Commodity Trading Advisors. Members also include 11 Futures Commission Merchants and 23 service providers.

The mission of NIBA is education — education for registered futures, options, swaps and forex professionals which keeps them in compliance, grows their businesses, and assists them in their service to their customers. We accomplish our education mandate by issuing two newsletters each month and presenting four in-person membership meetings each year. NIBA’s newsletter is distributed to over 3,000 industry participants twice a month. NIBA’s membership meetings draw between 500 and 600 individuals per year.

NIBA has voiced the opinion of its members effectively over the past 25 years. A few of the issues we have influenced/are currently working on:

  • NIBA is responsible for lowering annual NFA dues for IBs and CTAs to the now current rate of $750 per entity per year
  • NIBA said “no” to minimum capital requirements for CTAs
  • NIBA believes that when the CFTC and other regulators are making or changing regulation, service providers must have a seat at the table
  • NIBA believes that exchanges should continue to set position limits and other similar issues – these issues should not be left to the CFTC
  • NIBA’s all-volunteer board of directors handles the day-to-day business of the association and is made up of elected representatives from the IB, CTA and AP community, appointed FCM representatives and industry service providers. We are proud to include Mike Coglianese among the industry experts currently serving at the NIBA.

Interested in joining? Please contact me, Melinda Schramm, melinda@futuresrep.com or Mike, mike@cogcpa.com.

For more information on the benefits of joining NIBA, click here.