While on the Board, we have prioritized acting in our fiduciary capacity as Directors above maintaining consensus and the status quo. While we have acted professionally, we have not hesitated to raise difficult issues to NFA staff and have advocated for changes to executive compensation, audit practices, due diligence and nomination procedures for public Directors.
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.
It’s ironic that I’m writing this on the day the insurance study commissioned by the industry after the MF Global and PFG blow ups was released. Ironic because if implemented in some form, it would mean more costs and more rules for futures commission merchants (FCMs) and probably their customers.