Market Technicians Association Board Meeting

May 9, 2017, 8:102AM ET, ending at9:26AM ET, conducted by teleconference

Board Attendees:

President Craig Johnson, CFA, CMT

Vice President Scott Richter, CFA, CMT

Treasurer Sid Mokhtari, CMT

Secretary Brett Villaume, CMT, CAIA

Director Salma Abdulla, CFA, CMT

Director James Brodie, CMT

Director Jamie Coutts, CMT, CFTe

Director Sheba Jafari, MSTA, CMT

Director Carson Dahlberg, CMT

Director William Kelleher, CFA, CMT

Executive Director Alvin Kressler

Past President/Director Phil Roth, CMT

Absent:

Director Carson Dahlberg, CMT

Director David Lundgren, CFA, CMT

Director Sheba Jafari, MSTA, CMT

Guests:

Gordon Scott, CMT, Managing Director of the CMT Program

Tyler Wood, Managing Director of Global Business Development

Meeting Minutes:

  • Johnson presented theMay 2017 board meeting agenda for approval.

Roth motioned to approve the May 2017 board meeting agenda, Brodieseconded, and the motion passed unanimously without objection.

  • Johnson presented the March 2017 board meeting minutes for approval.

Rothmotioned to approve the March 2017 board meeting minutes, Coutts seconded, and the motion passed unanimously without objection.

  • Johnson presented the April 2017 board meeting minutes for approval.

Roth motioned to approve the April 2017 board meeting minuteswith thesubject toa correction to add Clint Sorenseon as guest correction, Kelleherseconded, and the motion passed unanimously without objection.

  • Johnson presented the March 241, 2017 LRPC Long Range Planning Committee (LRPC) Vvideoconferenceminutes for approval.

Rothmotioned to approve the March 214, 2017LRPCVideovideoconferenceminutes, Mokhtariseconded, and the motion passed unanimously without objection.

  • Johnson presented the April 8, 2017 LRPC meeting minutes for approval.

Roth motioned to approve the April 8, 2017LRPC meeting minutes subject to a correction to add Clint Sorenson as guests,Coutts seconded, and the motion passed unanimously without objection.

  • The following proposed 6 new Members were approved by the Admissions Committee and are now presented to the Board to be granted membership:

Hett, Stephen Douglas / Kinzer, Matt
Maldonado, Juan / Rahim, Kaihan
Samsonov, Yuri / Zhao, Yi

Rothmotioned to approve the new members, Mokhtariseconded, and the motion passed unanimously without objection.

The above named are now Members of the Market Technicians Association.

  • The Admissions Committee presented 5 Members to be granted the CMT designation:

Hett, Stephen Douglas / Kinzer, Matt
Rahim, Kaihan / Samsonov, Yuri
Zhao, Yi

Roth motioned to approve the Members be granted the CMT designation,Coutts seconded, and the motion passed unanimously without objection.

The above named individuals are now Chartered Market Technician charterholders.

  • Abdullaand Wood presented a case for advocated rebranding the name of the Association in order to avoid confusion, due to confusion between the MTA and the CMT acronyms. Consolidating the brand acronyms would provide consistent recognition to members, prospective members, and the financial industry, andcreate consistency across the MTA value proposition and the CMT Program. Theynew proposed renaming the Association ase would be tthe CMT A (CMT Association), or “CMTA”, and the developing a new logos would be combined, keeping the graphic M. The Board discussed the merits of the proposed rebranding, the costs involved, timing, marketing, communications with the membership, legal concerns, and other considerations. Wood was asked to provide the Board with a comprehensive rebranding plan Wood said that implementation of the new logo can be completed in June with the new name and logo ready for July 1st which coincides with the beginning of the MTA’s fiscal year. It is more efficient to go public now with the new logo due to the marketing campaign that will be begin in June for the October test administration. A formal issuance to the membership will be done at the June annual members meeting. Two “Go To Meetings” conference calls to present the rational and answer questions to MTA chapter chairs and committees members before the public announcement. Will contact the spheres of influence such as self-side research analysts who are on TV, publishing and the media, and make them aware of the change to assist the MTA in communicating a consistent brand identity at the roll-out. The legal name Market Technicians Association can be kept for doing business as which might be the most efficient or do a full legal name change. The cost to implement the new logo would be 5K-10K. The CMTA (CMT Association) was chosen as the CMT Institute domain was already taken. A proof of the design, strategic plans, a timetable and a budget to implement the new logo will be presented at the next board meeting. at the next Board meeting.

BrettVillaumemotioned that the boardto approves the name change of the Market Technicians Association to the CMTAssociation and authorize the staff to proceed with making that nameimplementingthe change, Roth seconded, and the motion passed unanimously without objection.

  • Kelleher informed the board that this year’s annual symposium was one of the most challenging to achieve the objectives and its success is measured in several different ways, financial being one of themprovided a review of the MTA’s 44th Annual Symposium that took place on April 5th through 7th. Several records were set this year and the event becomes more expensive each year as the MTA tries to make it more robust. It was a financial success with a record breaking 147K in sponsorship with Fidelity donating 47K, and 146K in registration revenue. Major expenses have been paid but some minor and travelling expenses are still open but expect a 50K profit. The event was considered a success by all Board members and Johnson congratulated both Kelleher and Wood on a successful conferencejob well done. This symposium had one of the highest board representations as the LRPC was held immediately after it.
  • Villaume reported that the aAudit committee met on April 25ththwhere to review the results of the audit firm’s annual audit. Representatives from Condon, O’Meara, McGinty & Donnelly LLPe presented in detail the results of theirir audit of the MTA, which included an opinion that the financial statements for the fiscal years ending June 30, 2015 and June 30, 2016 present fairly, in all material respects, the financial position of the Market Technicians Association. IA; the review included the draft of financial statement and management letter. Condon O’Meare is prepared to issue an unmodified opinion on the financial statements; several internal control notes were made and Kressler addressed them during the Audit committee call. A discussion was held regarding the MTA’s use of a modified cash basis of accounting that the MTA uses; Condon O’Mearae recommended that the MTA adapt the accrual accounting method versus a modified cash basis to give the Bboard and management a better more accurate view evaluation of the financial impact of month to month activities of the organization. Term limits had been reached for some members of the Audit committee and the new members were introduced,includingecurrent MTA Board members Salma Abdulla, James Brodie, and David Lundgren; Villaume’s term limit expires next year and he will serve as Chair of the Audit committee until the end of his term..

Kressler reported that the database migration is progressing with a slight delay by the provider, but expect it to be operable by mid-August. Site visit will happen early to mid-June to review the MTA’s business processes and flows that will go into the design rule in terms as to how the database will operate. Script for the migration is being written and other necessary operations that don’t depend on the database such as email templates are being worked on. In the new database will most likely create a member and affiliate member category so as to get a true member number; a third category would be the candidate member as the membership churn is mostly due to them.

New Business:

  • Kressler informed the Bboard that the aMTA Annual Mmeeting will take place on Tuesday, June 13, 2017, time and location to TBD; the meeting will be webcast.

Future Business:

  • Technology update from Kressler
  • Proposed rebranding plan provided by Wood

Rothmotioned to adjourn, Mokhtariseconded, and the meeting was adjourned at9:26AM ET.

The next MTA Board meeting is scheduled for Tuesday, June 13, 2017 at 8:10 AM ET

Respectfully Submitted,

Brett Villaume, CMT, CAIA

Secretary of the Board

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