This is the first time in our history that the NIBA has recommended nominees for NFA Board positions. To ensure the recommendations accurately reflect members’ opinions, BoD members (excluding non-registrants and FCM members) voted.
What was clear is that more than three years after the Dodd-Frank Act was passed and with many deadlines missed and more deadlines on the horizon there is a massive amount of confusion regarding how these products are to be regulated.
When NIBA saw the potential impact of CME Group data fee increases, it sought a meeting with the CME to discuss their concerns. NIBA met with the CME Group market data team on Dec. 2. Here is their report to members on that meeting.
I ran into an old friend at the Chicago Board of Trade yesterday and he told me the following joke: “What does Obamacare and CME Group’s new data fees have in common? One is 28,000 pages the other is 18 pages and both were voted on without anyone reading them.”
Farmers, ranchers and agricultural cooperatives planning to file claims with the CME Group’s Family Farmer and Rancher Protection Fund in the wake of the PFG bankruptcy must do so by 5:00 PM CST on Oct. 5