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Author Archives: Jeff Bergstrom

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

Lone Democrat on U.S. Swaps Regulator to Leave Before Term Ends; CFTC Democratic Commissioner Sharon Bowen To Step Down; Brussels in late effort to tighten rules limiting off-exchange trading Standard

First Read Bits & Pieces By John J. Lothian CFTC Commissioner Sharon Bowen has had enough. Or more accurately, she can do the math and her best move is to step aside and let the Washington political process proceed. Congress likes to send up paired nominees for confirmation to the CFTC, but we need two Republicans and one Democrat confirmed to get to the full five-member CFTC. By stepping down, Bowen sets up the ability of Congress to send up a pair of Democrats to go with the pair of Republicans. Hats off to Bowen for her work on the…

Barclays, Ex-CEO Charged Over Qatar Rescue Amid 2008 Crisis; Wall Street Now Fears the Lawyer Who Used to Defend It; Squeezed at home, Japan’s Nomura seeks to push into Wall Street’s home turf Standard

First Read Hitting the Pinnacle By JLN Staff Last night, the CME Group and BarclayHedge hosted the sixth annual Managed Futures Pinnacle Awards. The Pinnacle Achievement Award went to Toby Crabel, chairman and chief investment officer of Crabel Capital Management. Among the several people he thanked for helping him were Jack Sandner, Ray Cahnman and Victor Niederhoffer. The managed futures industry continues to grow, despite the bull market in stocks, which often run counter to non-correlated strategies. Assets under management are at an all-time high of $348 billion, up $8 billion so far this year, according to BarclayHedge. Winners last…

Market Volatility Has Vanished Around the World; How S&P 500 options may be used to manipulate VIX ‘fear gauge’; MIZUHO: ‘The market appears at risk for an unexpected event’ Standard

Observations & Insight For The Trader Among Us: Trading Chicago If you haven’t registered for the Trading Chicago event on June 29 at the Swissotel in the Windy City, now is the time to do it. We’ve got a great lineup of panels and speakers with a strong emphasis on the impact of regulation, technology and key markets on end-users such as CTAs, hedge funds, proprietary trading firms and asset managers. For full conference information, click HERE. ++++++ LME Working To Get Exchange Structure Right JohnLothianNews.com “I think we have to be honest that no market structure is going to…

FCA chair Griffith-Jones to depart March 2018; Market Volatility Has Vanished Around the World; The City should not overpay for a euro-clearing deal Standard

First Read For The Trader Among Us: Trading Chicago If you haven’t registered for the Trading Chicago event on June 29 at the Swissotel in the Windy City, now is the time to do it. We’ve got a great lineup of panels and speakers with a strong emphasis on the impact of regulation, technology and key markets on end-users such as CTAs, hedge funds, proprietary trading firms and asset managers. For full conference information, click HERE ++++ Jim Kharouf on Twitter Live Video for FOW-JLN Trading Chicago Event on June 28 Twitter /www.pscp.tv/w/1MnGnavrXjdKO ***** In case you missed the 11…

Cost of ‘Black Swan’ bet on falling markets hits pre-crisis low; The one cheap thing in financial markets today; You Don’t Know VIX: Wall Street’s Fear Gauge Is Now a Multibillion Dollar Market Standard

Observations & Insight You’re Invited to FOW-John Lothian News Trading Chicago on June 28th! Register here This one-day event at the Swissotel on June 28th is aimed largely at the end-users of the markets: commodity trading advisors, asset managers, hedge funds and proprietary traders. The conference will cover the issues that impact those firms directly – regulation, technology and market structure, with an underlying thread of trading in an age of uncertainty. All of this will be delivered in a variety of formats, from an Oxford-style debate on the Dodd-Frank Act’s repeal to TED-style talks to panel discussions. The event…

Election results 2017: UK wakes up to hung Parliament; U.S. derivatives regulator concerned about swaps clearing worldwide post-Brexit; Lawsuit in U.S. accuses 12 big banks of credit default swap collusion Standard

First Read U.S. business schools embrace ‘fintech’ as students clamor for courses Anna Irrera – Reuters Leading U.S. business schools are trying to teach students how to become masters of financial technology, a subsector of Wall Street that has grown in size and prominence, but because the area is still ill-defined and relatively new it is hard to develop courses. Stanford University and Georgetown University business schools are planning to offer “fintech” courses for MBA students for the first time this fall. New York University is planning a new course for undergraduates after launching a fintech specialization in its business…

London’s biggest clearing house open to more EU oversight; Exchanges stranglehold on data costs stifling market activity; Deutsche Boerse says open to index and data business deals Standard

First Read Have you checked out the lineup for Trading Chicago? JLN The FOW-JLN conference Trading Chicago is on June 28th — less than three weeks from now. Is it on your calendar yet? Check out the lineup. Speakers this year include the Streetwise Professor Craig Pirrong, Leslie Sutphen and Gary DeWaal debating Dodd-Frank, Fidessa’s Steve Grob, Chris Hehmeyer and Joshua Yang talking about our markets in an age of populism with Carl Gilmore. Other notables include Jay Feuerstein of Budo Group, Richard Mackey of Rosenthal Global Securities and Tim Gits of Eurex and Chris Anderson of Itiviti talking about…

Innovation Is the Only Cure for Fragmentation; Deutsche Börse Reveals Three ‘Pillars’ of Its Pervasive Blockchain Integration; Index Funds Still Beat ‘Active’ Portfolio Management Standard

First Read Cold as ICE: Sprecher asks UK, How much do you love me? In the battle for financial markets in Europe, exchanges would like some more communication about why they should stay in the UK. By Jim Kharouf To hear one exchange leader tell it, UK markets could use a little more love. At the 10th annual FIA IDX conference on Tuesday, ICE Chairman and CEO Jeff Sprecher said UK regulators have not communicated with ICE much about how they could work together and keep ICE Europe’s operations more firmly in London. In the wake of Brexit and the…

How China’s Biggest Bank Became Wall Street’s Go-To Shadow Lender; JPMorgan Has a Surprisingly Simple Theory for Low Volatility; The ECB and tapering: a challenge that will not go away Standard

First Read Ready for Trading Chicago? JLN We’re six days into June, which means there are only 22 days left until the FOW-JLN conference Trading Chicago on June 28th. It’ll be well worth it to attend. Just check out the program: speakers this year include the Streetwise Professor Craig Pirrong, Leslie Sutphen and Gary DeWaal debating Dodd-Frank, Fidessa’s Steve Grob, Chris Hehmeyer and Joshua Yang talking about our markets in an age of populism with Carl Gilmore. Other notables include Jay Feuerstein of Budo Group, Richard Mackey of Rosenthal Global Securities and Tim Gits of Eurex and Chris Anderson of…