nyuuzyou/wikis huggingface dataset:
Independent Introducing Broker (Futures)

An Independent Introducing Broker (IB) in the context of futures trading is an individual or entity that facilitates the trading of futures contracts, commodity options, retail off-exchange forex contracts, or swaps. Unlike guaranteed introducing brokers (GIBs), independent IBs do not enter into guarantee agreements with futures commission merchants (FCMs) and instead operate independently, utilizing the services of one or more FCMs for clearing trades.
== Role and Responsibilities ==
Independent IBs serve as intermediaries between clients and FCMs. They maintain direct relationships with customers, offering advice and soliciting orders for futures contracts. However, they delegate the execution of trades and back-office operations to affiliated FCMs. This arrangement allows IBs to focus on client service, while FCMs handle the complexities of trade execution and account management.
=== Regulatory Framework ===
Independent IBs are regulated by the Commodity Futures Trading Commission (CFTC) and must comply with specific rules set by the National Futures Association (NFA). These include maintaining a minimum adjusted net capital of $45,000 and filing semiannual financial reports with the NFA. Unlike guaranteed IBs, independent IBs are not backed by an FCM for their actions, making them subject to additional regulatory requirements.
== Advantages and Structure ==
Operating independently allows IBs to provide localized customer service without the financial burden of maintaining large-scale trading infrastructure. Many independent IBs are small operations, often run by a single individual, although some may have multiple locations. This structure enables FCMs to extend their reach through local IBs, creating economies of scale and allowing for specialized client services.
== Comparison with Guaranteed IBs ==
While both independent and guaranteed IBs serve similar functions in connecting clients with FCMs, the key difference lies in their financial and operational arrangements. Guaranteed IBs have a formal agreement with an FCM that assumes liability for their actions, whereas independent IBs operate without such guarantees, necessitating greater financial independence and regulatory compliance.
Overall, independent introducing brokers play a crucial role in the futures trading ecosystem, providing valuable services to clients while leveraging the infrastructure and expertise of FCMs for trade execution.
== References ==
Category:Financial Markets
Category:Brokerage Firms
Category:Securities Trading
Category:Investment
Category:Financial Services
Category:U.S. Commodity Futures Trading Commission
Category:U.S. Securities and Exchange Commission
Category:Introducing Brokers
Category:FINRA
Index Industry Association

The Index Industry Association (IIA) is a trade body set up by index providers to promote best practice standards. The association was started in 2012. 
The IIA was formed in 2012 during the rapid growth of indexed-based investing, when ETFs came of age. Its mission was to educate investors on the attributes and role of indexes within the investment process, advance the interests of global index users and providers, and to push for industry standards of best practice, independence and transparency. It was originally founded by three independent index providers, FTSE Russell, MSCI and S&P Dow Jones Indices. It grew to represent the industry globally and now has 17 member firms headquartered across three continents.
Over the course of its history, the IIA has worked for investor education and industry transparency, advocated for independent index providers globally, and served as the voice for the index industry.
 
== History ==
Rick Redding led the association as CEO starting with its founding in 2012. He retired in December of 2024 and was succeeded in January of 2025 by Kirsten Wegner.
== Products and Services ==
== Membership ==
== Key People ==
* Kirsten Wegner, CEO
== References ==
Category:Industry Associations
India International Exchange

__NOTOC__
 
The India International Exchange (INX) officially opened for trading on January 17, 2017. A wholly owned subsidiary of BSE (Bombay Stock Exchange), the exchange offers a wide range of global benchmark products across all major asset classes, including equity derivatives, commodity derivatives, and currency and interest rate derivatives. 
 
The exchange is located at the International Financial Service Centre (IFSC), Gujarat International Finance Tech (GIFT) City, Gujarat, a so-called special economic zone which provides various tax benefits to participants. It aims to compete with other offshore banking hubs such as Singapore, Hong Kong, London and Dubai. 
== Key products ==
The INX provides an electronic platform for trading, clearing and settlement of a variety of contracts in non-rupee denominations. Among the contract offerings are: currency and interest rate derivatives, single stock, index and commodity futures, equity shares of companies incorporated outside India, depository receipts and debt securities. The exchange opened with derivatives contracts and plans to introduce other asset classes. 
To start, the exchange opened with trading on Sensex-50 Index futures with plans to add gold, silver, copper, oil and rupee.
The trading system was touted as the world's fastest stock exchange, with turnaround times of four microseconds. It is open 22 hours per day.
In October 2019, it was reported that India would allow foreign exchange trading on rupee derivatives. The move came as trading in rupees had grown in offshore markets such as London, which surpassed Mumbai in trading of the currency. India International Exchange said it would launch dollar-rupee futures and options contracts. 
== Key people ==
V. Balasubramaniam, managing director and CEO 
== References ==
Category:Stock Exchanges
Category:India
Indian Commodity Exchange

The Indian Commodity Exchange is the third largest commodities exchange in India. It merged with the National Multi-Commodity Exchange (NMCE)in 2017.ICEX gets final nod from Sebi to restart trading operation
The exchange offers diamond contracts and plans to offer crude oil and brent crude oil contracts. 
== History ==
ICEX was the fourth exchange commodities exchange to open in India, launching in 2009 but it closed in 2014.
NMCE and ICEX agreed to merge in July 2017 and were to close the deal by December 2017. The merger was forged in part by an Indian regulatory requirement that the exchange meet a Rs 100-core ($15.2 million) minimum net worth for commodity exchanges. At the time of the merger, the NMCE's net worth was Rs 76 core, while ICEX's net worth was Rs 100 core. ICEX was given regulatory approval in July 2017 to restart its operations.
== Products and Services ==
== Key People ==
== References ==
Indian Energy Exchange

__NOTOC__
Indian Energy Exchange (IEX) is a power and energy-related market which offers physical delivery of electricity. Launched on June 27, 2008, the exchange provides several electricity trading offerings including a day-ahead market, term-ahead market for up to 11 days, Renewable Energy Certificates or RECs and energy saving certificates on the Indian market.
The company, the largest energy market in India, plans to go public on October 9, 2017, selling 6.06 million shares. The exchange has several large companies invested in it, including Tata Power Co., which was set to sell all of its 1.25 million shares in the IPO. The IPO was expected to raise 10 billion rupees, ($152.9 million).
It has more than 5,800 participants on its market from 29 Indian states and 5 union territories. 
== Background ==
The IEX was granted approval to operate as an automated electronic trading exchange by the Central Electricity Regulatory Committee (CERC), on June 9 2008. It was initially founded by Financial Technologies but it was forced to divest its 26 percent stake in the company after regulators ruled it the firm was not fit to run any exchanges in 2013. The exchange still runs on FT's exchange trading platform technology, however. 
IEX is the third Indian exchange to go public after the Multi Commodity Exchange of India in 2012 and Bombay Stock Exchange, or BSE in February 2017.
== Key people ==
Satyanarayan N. Goel managing director and chief executive officer 
Dinesh Kumar Mehrotra chairman
Rajesh Kumar Mediratta director, business development
Akhilesh Awasthy director, market operations
== References ==
Category: exchanges
Indiana Grain Company

__NOTOC__
Indiana Grain Company is a small private trading firm started by independent trader Thomas Grisafi. The firm focuses largely on commodities. The firm's website, IndianaGrain.com, provides daily news, market commentary, and analysis of how the day's headlines impact traders.
Founder and CEO Grisafi has been registered as a floor broker since 1993. He has attracted some attention because of the state-of-the-art trading facility he has built in the basement of his home. The trading facility has giant price boards, similar to those that you'd find on an exchange trading floor.
== Key People ==
*Thomas Grisafi, Founder and CEO
*Michael Essany, Vice President
== References ==
Category:Bios - Executives
Indonesia Stock Exchange

The Indonesia Stock Exchange was created in December 2007 by the merger of Surabaya Stock Exchange into Jakarta Stock Exchange. 
== History ==
== Products and Services ==
The exchange offers stocks, stock options, bonds and derivatives as well as Syariah (Shariah)-based investment products. It lists futures (and a mini-size version) on the LQ45 Index, and futures on the Dow Jones Japan Titan 100 Index.
== Key People ==
== References ==
Category:Exchanges
Category:Stock Exchanges
Category:Indonesia
Industry Clearing Committee

The Industry Clearing Committee is a committee started by the International Swaps and Derivatives Association, Inc. (ISDA). The ICC consists of a broad cross-section of over-the-counter (OTC) derivatives industry market participants. 
The ICC was formed in June 2011 with the stated goal of meeting current and emerging industry needs in respect of clearing. More specifically, the ICC would assist in coordinating industry efforts to reach optimal levels of central counterparty clearing and to address obstacles in achieving those levels.
 
As of January of 2011, the ICC comprised 16 dealer banks, 13 buy-side firms, plus the three current CCPs that would eventually number four, as well as other trade associations.
== History ==
== Products and Services ==
== Membership ==
The structure of the ICC is divided into three primary elements:
* The Plenary Group: This group consists of all current members of, IIGC plus non-IIGC signatories to the March 31, 2011 strategic roadmap, plus others. The Plenary Group is the decision-making group within the ICC structure that is responsible for making all industry recommendations relating to the ICC’s work.
* The Organizational Group: this is the administrative and coordinating group of the ICC, and is a sub-set of the Plenary Group. It is comprised of four sell-side, four buy-side and four CCP participants.
* The Working Groups: These are practical/technical groups formed to deal with specific issues and tasks. 
== Key People ==
== References ==
Category:Industry Associations
Category:SIFMA
Category:ICC
Inflation

Inflation has been described as a both a general condition of rising prices, measured by increases in the Consumer Price Index (CPI), and an expansion of the money supply that causes a currency's value to fall. U.S. CPI-based annual inflation has risen steadily through 2008 and by September was above 5.3%.
Inflation defined by rises in CPI measurements focuses more on inflation's results rather than the causes of inflation, some argue. Earlier definitions, by contrast, stressed its origination through a sudden increase ('inflation') in the supply of currency and/or goods to an economy. 
== History ==
According to InflationData.com, a tracking website, the CPI-based annualized monthly U.S. inflation rate has varied from 3.94% in April to 5.60% in July 2008. The site claims it measures the inflation rate accurately to two decimal places whereas the U.S. Bureau of Labor Statistics, which compiles the raw data, calculates the rate to only one decimal place. 
According to the Bureau of Labor Statistics, the Consumer Price Index only increased .1 percent in November 2010 on a 
seasonally adjusted basis. In all of 2010, the index increased 1.1 percent before seasonal adjustment. 
In the beginning of 2011, the Financial Times reported that inflation would be a common theme in the new year. Inflationary pressures have been building from the developed countries such as the United States and Europe as well as emerging markets like China and Brazil to the smaller markets like Thailand, Malaysia and Vietnam. Investors are left in demand for index-linked bonds that offer protection against rising prices. Inflation will also change the way investors look at emerging markets as they decide if the overheating risks outweigh the respected countries' positive growth. 
== References ==
Category: Definitions
Category: MarketsWiki Page of the Day
Ingrid Bonde

Ingrid Bonde is the chief financial officer and deputy chief executive officer of Vattenfall. 
 
== Background ==
Bonde has been the CFO and deputy CEO of Vattenfall since 2012. In 2008 she served as president and CEO of AMF. Bonde was named director general of the Swedish Financial Supervisory Authority in 2003 following her previous role as deputy director general at The Swedish National Debt Office, where she was responsible for yen funding and portfolio management. Before that, she worked with the Scandinavian Airlines System as head of the Domestic Retail department, as vice president of finance and head of the SAS Group Finance department. Bonde started her career in 1982 with The First National Bank of Chicago doing credit analysis and credit administration. 
Bonde is a board member of St. Erik´s Eye Hospital and has held many assignments in the past, including: Swedish Civil Aviation Administration, Swedcarrier, chairman of the board, the Premium Pension Authority, Swedish Space Corporation, Swedish Rail, VPC AB (CSD in Sweden), Handelsbanken´s Mutual Fund, Scandinavian Airlines System´s Pension Fund and Scandinavian Airlines System Oil AB.
== Education ==
Ingrid holds an MBA from the Stockholm School of Economics, where she spent a year in the New York University MBA program, New York Exchange Student Program. She has also attended the London School of Economics on a leadership programme.
== References ==
Category:Regulators
Ingrid Werner

__NOTOC__ 
Werner is the Martin and Andrew Murrer Professor of Finance at the Fisher School of Business at the Ohio State University.
== Background ==
She joined the Finance group at Fisher College of Business, The Ohio State University, in 1998, and holds the Martin and Andrew Murrer Endowed Professorship in Finance. She held a National Fellowship at the Hoover Institution (Stanford University) during 1995-1996, she was the 1996-1997 Visiting Research Economist at the New York Stock Exchange, and the 2001-2002 Visiting Academic Fellow at Nasdaq.
Werner served on the Economic Advisory Board of the NASD 1998-2000 and is currently on the Economic Advisory Board of the Swedish Finance Research Institute (SIFR) in Stockholm and on an Academic Advisory Board at Morgan Stanley & Co. She is also currently serves on the Editorial Board of the Journal of Empirical Finance, the Journal of International Financial Markets, Institutions & Money, and the Emerging Markets Finance Journal, and she was an associate editor for the Journal of Finance 2001-2003, and the Review of Financial Studies from 1998-2001. Moreover, she has served as an ad hoq referee for more than twenty other journals in Economics and Finance.
Professor Werner's research interests range from international finance to market microstructure. She has published more than a dozen papers in academic journals and books. In the international finance area, her work on home bias and cross-border securities trading is very well known. In the market microstructure area, she has studied: trading of British cross-listed securities both in London and in the U.S.; interdealer trading on the London Stock Exchange; the trades of NYSE floor brokers; Nasdaq institutional trading; the effect of Nasdaq delistings on firm value and liquidity; and the effect of suspending short-sale price tests on market quality. Current research projects range from disclosure and market efficiency to bankruptcy. Professor Werner is the Director of PhD Programs at the Fisher College of Business. She also teaches International Financial Management and Trading and Markets to MBA students and undergraduates.
== Education ==
Professor Werner has an MBA and an Ekon. Lic. from Stockholm School of Economics, and a PhD from the University of Rochester (1990).
== References ==	
Category:University Professors
Initial Public Offering Index

‘Going public’ has effects on corporations globally which are truly unique and long-run in nature. It is also difficult to value newly listed companies because of the high level of information asymmetry at the IPO date. This is due to institutional constrains in the IPO marketplace, such as short selling restrictions, no historical beta, the ‘quiet’ period or limited analyst coverage. As companies progress once being listed, this information asymmetry works itself out in share price movements over the long term. These dynamics result in a large dispersion in long-run IPO returns, i.e. over time many IPO companies will eventually have underperformed and relatively few companies will have oveperformed. Exposure into the overperforming companies, however, can produce asset allocation benefits. An underlying force affecting the IPO markets has also been accounting reforms under Sarbanes-Oxley (“SOX”). This has resulted in higher quality of disclosure, which also means greater company transparency, an important factor especially for IPO companies.
The global IPO and spin-off market is economically significant and represents the lifeblood of global Equity Capital Markets (ECM) activity. Since the early 1990’s, an average of USD 750 bn p.a. in market cap has been created through IPO and spin-off activity globally. IPOs and spin-offs represent one of the most dynamically performing equity classes and offer a unique way for portfolio enhancement if tracked separately. 
The IPOX Global Indexes encompass a scalable and dynamic index technology which seeks to unlock the potential asset allocation benefits associated with IPOs. With backtested history going back to 1989, the IPOX Global Indexes have been real-time and available on Bloomberg and Reuters since 2004 with Standard & Poor’s acting as the calculation agent. Please follow www.ipoxschuster.com for inquiries related to licensing and services offered by IPOX Schuster LLC.
Category:Stocks
Initial exchange offering (IEO)

An initial exchange offering (IEO) is the execution of an initial coin offering (ICO) on a cryptocurrency exchange. 
Major non-U.S. domiciled exchanges like OKCoin, KuCoin and Binance offer to host IEOs. U.S. exchange Bittrex hosted two IEOs in April and May 2019 for Ocean Protocol and VeriBlock respectively, both of which had lost more than 75% of their offering price within months of issuance.
While still operating under a cloud of suspicion due to the ongoing investigation by the New York Attorney General, Bitfinex announced the launch of its own IEO platform, Tokinex.
On May 13, 2019, Valerie Szczepanik, the SEC’s senior advisor for digital assets and innovation, told a panel audience at CoinDesk's Consensus conference that issuers and exchanges which conduct IEO's may be subject to U.S. regulation if any of the buyers are U.S. residents.
In October 2019, an article in CoinTelegraph said that 65 IEOs had been launched in the previous six months, including 13 in the United States.
== References ==	
Category:Trading
Category:Cryptocurrency
Category:exchanges
Category:decentralized applications
Category:fintech
Category:definitions
Category:regulation
Category:CryptoMarketsWiki
Initial public offering

An initial public offering (IPO) is the first sale of stock by a private company to the public. IPOs are often launched by companies seeking capital to expand their business. Once an IPO occurs, a company will be listed on a stock exchange, and shares will begin to trade.
IPO costs are typically 7.5% to 8.5% of the value of the company, including underwriter's commission, legal and accounting fees, investor relations, printing, road show and an initial listing fee. For a $25 million offering, that's between $1.875 million and $2.125 million. 
The number of IPOs in the U.S. has been decreasing steadily since the technology bubble in 1999-2000. They've been replaced in large part by PIPEs due to the rising costs of an IPO.
== References ==
Category:Public Companies
Innovate Finance

Innovate Finance is a London-based independent membership association that represents the UK's global fintech community with a goal to support new financial technology professionals and firms. 
In September 2019, the organization had 250 members across 18 industry verticals/sectors ranging from seed stage startups to global financial and services firms. It is partnered with Broadgate and the City of London and strives to promote policy and regulation, talent development, business opportunities and investment capital in the space.
== History ==
Innovate Finance was launched in August 2014 at Level39, London's startup hub for technology firms. The organization, which began with 50 startups and banks, to help London remain the financial capital of the world. Led by the first CEO, Claire Cockerton, the organization was created to promote and foster growth in the financial technology space and work in concert with the financial services industry and beyond. 
== Key People ==
* Charlotte Crosswell, CEO
== References ==