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Author Archives: Jeff Bergstrom

About Author

Bergstrom is chief information officer of John J. Lothian & Co. He edits MarketsWiki and JLN Options.

CME spooks investors with warning on market data; How Trump and Brexit Could Change Global Bank Rules; Calypso and R3 partner for blockchain trade matching Standard

First Read D is Data: And That Might Be The Future Jim Kharouf, John Lothian and Spencer Doar – JLN The sold-out FinTech Exchange conference, hosted by Barchart, was largely about data – what to do with data, how exchanges are capturing new data and how to trade it. That, on its surface, isn’t particularly new. But the infrastructure to capture all kinds of data is now developed. The CME Group’s Julie Armstrong Menacho colorfully outlined how the exchange has migrated all of its historical data onto the cloud, giving customers greater access to it, along with a growing list…

Corporate bond trading at MarketAxess reaches record high; ICE says being asked to shift operations from London to continent; SEC working ‘diligently’ on plan to test lower exchange fees Standard

First Read Did you know? Jim Kharouf & Spencer Doar – JLN Moscow, OneChicago, MexDer, Fear Gauge and Trump Street with an Irish twist. No, they are not connected. One of the interesting things about updating annual volume figures on our MarketsWiki site is the snapshot of how a particular exchange has been doing over a number of years. The FIA Annual Volume Survey shows a couple of unusual suspects in the top 5 in 2016 with the National Stock Exchange of India coming in second and the Moscow Exchange at number four in terms of derivatives volumes. At the…

LSE brushes off Deutsche Boerse blues with ‘strong start’; Acquisitions help Nasdaq beat profit estimates; Brokers “must specialise in research or execution” post-MiFID II Standard

First Read America’s Rich Get Richer and the Poor Get Replaced by Robots Vincent Del Giudice and Wei Lu – Bloomberg Gap widens as automation takes over more low-skill jobs; San Francisco, San Jose lead metro areas with greatest change America’s working class is falling further behind. The rich-poor gap — the difference in annual income between households in the top 20 percent and those in the bottom 20 percent — ballooned by $29,200 to $189,600 between 2010 and 2015, based on Bloomberg calculations using U.S. Census Bureau data. /goo.gl/Naujj4 ***** Robin Hood would definitely have a problem with robots….

Wikipedia founder Jimmy Wales launches Wikitribune; European Banks Seen Losing More Share Amid Bond Trading Upturn; LME launches discussion paper on market structure Standard

First Read Lack of Understanding around Disruptive Technologies Presents Opportunity for Risk Professionals Business Wire Risk professionals have an opportunity to close the gap when it comes to understanding and managing rapidly advancing disruptive technology risks, according to a new report published jointly today by Marsh, a leading insurance broker and risk advisor, and RIMS, the risk management society. Doing so, will increasingly require risk managers to play a leading role as their organizations address complex challenges and opportunities in this environment. /goo.gl/z0UAn5 ****** Managing this risk means more than just saying “no”. ++++ Want high-quality journalism? Try paying for…

The fearless market ignores perils ahead; In rare fumble, Goldman stuns Wall Street with weak trading; Fischer Expects Muted Market Response When Fed Trims Balance Sheet Standard

Lead Stories The fearless market ignores perils ahead Robin Wigglesworth – Financial Times In 1992, a Bob Dylan-loving finance professor called Robert Whaley uprooted his family from the US and moved to a tiny hamlet in bucolic Burgundy. There he spent six months laying the groundwork for the finance industry’s most popular representation of terror. jlne.ws/2pPdWyi In rare fumble, Goldman stuns Wall Street with weak trading Reuters Goldman Sachs Group Inc (GS.N) fell short of earnings expectations on Tuesday due to a drop in quarterly trading revenue, prompting analysts to demand explanations for underperformance in an area where the bank…

SEC Targets Illicit Options Trades Made Ahead of Telecom Deal; Markets Aren’t Normal and Neither Are You; VIX Index Soars in Warning to Trump’s Bull Market Standard

SEC

Lead Stories SEC Targets Illicit Options Trades Made Ahead of Telecom Deal; Regulator freezes assets in accounts linked to suspicious activity Chris Dieterich – WSJ If you’re trading on inside information, maybe be a bit more discreet? The Securities and Exchange Commission on Friday announced a court order to freeze assets in brokerage accounts that made suspicious, windfall-reaping options trades ahead of an acquisition announced last week. At issue are short-dated, out-out-of-the-money calls bought days before Liberty Interactive announced its acquisition of General Communication, a telecom provider. /goo.gl/Pc57qx Markets Aren’t Normal and Neither Are You Thomas Preston – The Ticker…

White House Weighs Renominating Ex-House Aide to CFTC; Russell 2000 Index Futures and Options to Return to CME Group July 10; Big US banks defy calls they should be broken up Standard

First Read Good Friday By John J. Lothian Many markets are closed today for the Good Friday holiday. This was not always the case. I spent many a Good Friday in my day working my trading desk for markets that were open. Yesterday I learned something about the word “Eucharist” when a customer of the Jewish faith wished me “Happy Thanksgiving.” Eucharist in Greek means Thanksgiving. My minister shared this definition during our church’s Maundy Thursday service. Many years ago, when I was on the board of deacons of the church I grew up in, we used to recreate the…

Indexes Beat Stock Pickers Even Over 15 Years; Deutsche Boerse reluctant to extend CEO contract after failed merger; Chi-X Australia boss John Fildes steps down Standard

First Read Head of marketing Mead leaves CME Julie Aelbrecht – Futures & Options World Mead’s departure marks the latest management change under new CEO Terry Duffy The Chicago Mercantile Exchange’s head of marketing Christopher Mead has resigned from his role at the firm, marking the latest management change under new chief executive Terry Duffy. Mead will leave the Merc after over 11 years in its US marketing department. A spokesperson from the Chicago Mercantile Exchange (CME) has confirmed Mead will be leaving the firm at the end of the month. jlne.ws/2nImzOE ***** I can’t say enough good things about…

CME Group to shutter London exchange, clearing house; CME Group Intends to Close CME Europe and CME Clearing Europe by Year-End; Chi-X Australia boss John Fildes steps down Standard

First Read How Blockchain Is Changing Gold Markets Peter Shadbolt – CME Group The Royal Mint and CME Group team up to create a new digital gold product; The RMG blockchain and trading platform are in live testing with major financial institutions; An open source blockchain aims to give more transparency to gold settlement One of the great promises of blockchain technology is that it could transform the way we conduct transactions. From banking to smart contracts to recording land titles, the promise of blockchain technology to make a whole range of functions more efficient is being tested in proofs…