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Tag Archives: ADM Investor Services

Profiles: Tom Kadlec video

From regulation to technology to the revenue structure, futures commission merchants have experienced drastic changes over the last 30 years, as Tom Kadlec, CEO of ADM Investor Services, knows full well. In this John Lothian Profiles piece, Kadlec talks about his career in the futures markets, the importance of mentoring, current challenges and opportunities, and “The ADM Way.” In the winter of 1980, in the final stages of earning his accounting degree, Kadlec had a career chat with one of his finance professors at the University of Iowa, who suggested he try his hand at this “new business” – the…

Five Minutes with Tom Kadlec Interview,Managed Futures,Metals,Regulation,Tech / HFT

Thomas Kadlec

Tom Kadlec is president of ADM Investor Services (ADMIS), the futures commission merchant (FCM) subsidiary of Decatur, IL-based Archer Daniels Midland Co (ADM). He spoke with JLN Editor-at-Large Doug Ashburn at ADMIS’ recent National Broker Meeting, an annual convention of networking, information sharing, and cutting-edge economic research presentations. Kadlec’s message to brokers is that of financial stability and growth in the wake of diminished customer confidence and regulatory uncertainty. Transparency and communication, he says, are the keys. Q: How has ADMIS communicated its message of stability amid uncertainty? Is this particularly important because of the firm’s large presence in the…

Who Wants In? Commentary,Regulation,Tech / HFT

Ticket Seller

On October 30th, the day before MF Global declared bankruptcy, I (John Lothian) wrote an email to some industry leaders expressing my strongly-held belief that there would be no deal to buy MF Global. The biggest reason was that there “has not been any player in recent years that has come into the futures brokerage business and acquired companies with MFG’s model and proven successful,” I wrote. The futures commission merchant (FCM) business model is broken, with no better example than by the struggles of MF Global.  It is hard to earn profits when a major revenue input to your business model includes interest…

Extraordinary Times Call for Extraordinary Measures Commentary,Regulation

John Lothian

Today the CME Group is expected to file with the SIPC appointed bankruptcy officials and federal authorities a plan for how to proceed with their part of the orderly liquidation of MF Global, specifically the movement of open futures and futures options positions to other clearing firms. Should the proposal be approved by the bankruptcy trustee appointed by SIPC, the bankruptcy court and the CFTC, or some combination therein, then positions and underlying margins will start to move. This would be different from the current situation where only positions can be moved at the previous day’s settlement price. Positions are…

Emanuel Balarie – ADM Investor Services Diversified Strategies Funds Interview,Managed Futures,Video

Emanuel Balarie is portfolio manager for the ADM Investor Services Diversified Strategies Funds. He also serves as managing director for Balarie Capital Management, the managed futures division of Archer Financial Services, Inc. He spoke with JLN Managed Futures Editor Jim Kharouf about the current market for managed futures, what his firm looks for in CTAs and what the future looks like for the managed futures space.