CBOE Holdings Announces Plans to Launch Options on S&P Select Sector Indices
CBOE Holdings, Inc. (BATS: CBOE | NASDAQ: CBOE) announces plans to expand its suite of product offerings tied to S&P Dow Jones Indices with the planned launch of options on the 10 S&P Select Sector Indices that comprise the S&P 500, a key benchmark of the U.S. equities market. The new index options will offer investors across the globe new ways to efficiently incorporate U.S. sector investing strategies into their portfolios.
Investors Say Being Long Bitcoin Is Now the Most Crowded Trade
Dave Liedtka – Bloomberg
Chinese regulators aren’t the only ones getting nervous about the astronomical rally in bitcoin.
Bullish bets on the cryptocurrency are now considered the most crowded trade in financial markets, according to fund managers surveyed by Bank of America Merrill Lynch. Twenty-six percent cited bitcoin, surpassing the 22 percent who considered the most overheated wager to be the long trade on the Nasdaq Composite Index. Shorting the dollar was third, at 21 percent.
Brexit Bulletin: There May Be Trouble Ahead
Simon Kennedy – Bloomberg
Theresa May’s Brexit strategy remains on track—for now.
In a vote after midnight, lawmakers voted 326 to 290 to let the prime minister’s Brexit law advance. The government won after promising to discuss critics’ concerns before they have to vote again, and to consider allowing more time for the next stage of debates.
Irma losses up to 30 percent on some major crops grown in Florida
Jeff Daniels – CNBC
Florida’s agriculture industry took a big hit from Hurricane Irma, with early estimates showing up to 30 percent of some major crops had losses.
There are no official reports of damage totals but the value of Florida’s citrus last year exceeded $1 billion and sugar cane topped $561 million, according to the U.S. Department of Agriculture.
Exchanges and Clearing
Eurex supports electronification with Market-on-Close Futures
As of Monday, 30 October 2017, Eurex Market-on-Close (MOC) Futures will be providing a concept to trade index futures at a price level directly linked to the underlying cash market index close, prior to its actual publication. MOC Futures represent the basis, e.g. the difference between the current futures price and the current index cash price.
MCX to launch gold options; NCDEX could start with guarseed or soyabean
Banikinkar Pattanayak – Financial Express
The country’s top two commodity exchanges are set to launch options for the first time in October, heralding a new era in commodity trading after the regulator this year allowed the introduction of the new derivative products, along with the existing futures contracts, to deepen the market. Securities and Exchange Board of India (Sebi) has allowed Multi-Commodity Exchange (MCX) to introduce options in gold and the exchange is planning to launch it before Diwali—most likely between October 5 and 13.
Brexit ‘driving UK firms to Nasdaq Nordic’, Business News & Top Stories
The Straits Times
The head of Nasdaq’s European listings says the United Kingdom’s decision to leave the European Union is driving more UK companies to its Nordic market.
Nasdaq Nordic now expects that up to 15 per cent of its initial public offerings (IPOs) and listings next year could be made by firms outside the region. Most of the approaches it is getting are from British companies, but there is also interest from firms in Ireland, Israel, Malta and Germany, said Mr Adam Kostyal, who is in charge of Nasdaq’s European listings.
Regulation & Enforcement
Lawsuits against Equifax pile up after massive data breach
More than 30 lawsuits have been filed in the United States against Equifax Inc (EFX.N) after the credit reporting company said thieves may have stolen personal information for 143 million Americans in one of the largest hackings ever.
At least 25 lawsuits had been filed in federal courts by Sunday, including at least one accusing the company of securities fraud, court records show.
Barchart Launches High-Performance Cryptocurrency Data Feed
Today, Barchart, a leading provider of financial market data and technology, announces the launch of a comprehensive real-time and historical cryptocurrency market data feed. Delivered through either Barchart’s high-performance Data Services, or as a responsive Digital Solution – Barchart’s new service makes getting high-quality crypto data into your application, website, or workflow easy and affordable.
Hedging Your Bets Before China’s Party Congress
Steven M. Sears – Barron’s
During the U.S.’s Cold War with the Soviet Union, policymakers practiced Kremlinology: They tried to predict how Communist Party leadership changes might alter policies. Now, a similar, albeit lesser-charged, game is taking place with China. One might call it “Beijingology.”
Equifax is getting crushed — and traders are betting it’s going to get so much worse
Joe Ciolli – Business Insider
Equifax has already plunged 18% since it announced last week that hackers may have the personal details of nearly half the US population.
Options traders are betting that this is only the start.
As of Monday, the options contracts with the largest outstanding bets on the stock profit from a decline of 15% to 19% over the next five weeks, according to data compiled by Bloomberg.
How Warren Buffett broke American capitalism
Robin Harding – Financial Times
Growing up, I admired nobody more than Warren Buffett, the greatest investor ever. His achievement is towering. The market is an implacable opponent but here was a man who beat it year after year, making $75bn out of nothing but wisdom and charm. There was moral purity in his modesty, his ethics and his quiet attachment to home in Omaha, Nebraska. What footballer, politician or thinker could compare?