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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.

The Risk of Derivatives Isn’t Gone. It’s Merely Morphed Standard

First Read Look Who’s Talking By Thom Thompson, John Lothian News Last week many of us were surprised to hear EF Hutton talk again – Wow! They exist? – when Hutton issued three press releases over eight days. Hutton has emerged as potentially much cooler, socially conscious version of a money machine and not just because the money takes the form of cryptocurrency. It seems that Hutton’s brand had been hanging out somewhere deep in Citigroup until half a dozen years ago when it was resurrected and sent out to fare on its own. EF Hutton today is a broker…

New York sues U.S. to stop fintech bank charters Standard

First Read How blockchain may be used to create “smart cities” – an interview with Paul Doherty, founder and chairman of The Digit Group By Matt Raebel, John Lothian News Paul Doherty, founder and chairman of The Digit Group (TDG), a company that designs, builds, and maintains what he calls “smart cities” around the world, was one of the speakers at Chicago’s 2018 “Voice of Blockchain” event at Navy Pier last month. In 2017, Doherty accompanied Donald Trump on his trip to China as part of a delegation of 30 CEOs from major U.S. companies. The trip proved fruitful for…

Robinhood Is Making Millions Selling Out Their Millennial Customers To High-Frequency Traders Standard

Observations & Insight Monster’ Hurricane Florence to pummel U.S. Southeast for days Ernest Scheyder – Reuters Hurricane Florence, on track to become the first Category 4 storm to make a direct hit on North Carolina in six decades, howled closer to shore on Tuesday, threatening to unleash deadly pounding surf, days of torrential rain and severe flooding. /goo.gl/J6r6DL Lead Stories Robinhood Is Making Millions Selling Out Their Millennial Customers To High-Frequency Traders Logan Kane – Seeking Alpha Robinhood is marketed as a commission-free stock trading product but makes a surprising percentage of their revenue directly from high-frequency trading firms. It…

Bad bets offer a cautionary tale to investors; Second-guessing the volatility of markets can be costly Standard

Observations & Insight The Spread – The Colo Down-low – 9/7 JohnLothianNews.com “The Spread” hasn’t covered Aurora, Ill. during its time on the web. We tick that box in this week’s recap. Watch the video and see the stories referenced here » Lead Stories Bad bets offer a cautionary tale to investors; Second-guessing the volatility of markets can be costly Brendan Geeley – FT (SUBSCRIPTION) Over several days in early February of this year, two retail exchange traded products lost more than 80 per cent of their value. Close to $3bn was wiped out. One product, which traded as XIV,…

Crypto Exchange Kraken Is Laying Off 57 Employees Standard

First Read Hits & Takes JLN Staff AFM Chairman Pat Kenny asked me to plug the AFM Autumn Workshop, Current Technologies and Market Trends, in London on September 12, 2018. The workshop will look at the impact that blockchain and cryptocurrencies are making in established markets and processes. Registration is HERE.~JJL I really liked Tim McCourt’s message from his MarketsWiki Education World of Opportunity presentation: always keep learning. Nice job, Tim. Thank you for participating.~JJL Cumberland, part of DRW, has done a rebranding.~JJL FINRA has published an article, “Here’s How to Avoid Crypto Stock Scams.~JJL Yesterday’s top story about TT…

JPMorgan, BlackRock Warn Contagion Hitting Emerging Markets Standard

First Read X_TRADER Transformed The Industry: Now It’s Time To Do It Again Jim Kharouf – JLN The announcement that Trading Technologies will be shutting down its X_TRADER platform is not a big surprise. But what that platform has done over its 25-year lifespan certainly is. And what the new TT platform may do in the coming months and years may be equally astounding. Taking a look back, there’s not a single ISV trading platform that has had a greater impact on the industry than X_TRADER. Launched in 1994, the technology that included patented breakthroughs like the ubiquitous price ladder…

London’s Tribes of Finance Face Off Standard

First Read Hits & Takes JLN Staff If you are a broker or CTA, or are interested in learning more about those aspects of the markets, come to the NIBA’s September 13 Chicago Conference at the CME Group. Learn more and sign up HERE.~JJL Yesterday, FIA President and CEO Walt Lukken reacted to Chairman Giancarlo’s speech on cross border regulation post Dodd-Frank: “We welcome Chairman Giancarlo’s leadership to reconsider the CFTC cross-border approach, particularly as it relates to access to clearing. We look forward to providing the agency input at the appropriate time.”~JJL Women in Listed Derivatives (WILD) is continuing…

The Trader Who Shattered UBS Now Faces His Own Reckoning Standard

First Read Hits & Takes JLN Staff FinTank now has its own YouTube channel and has posted video from their numerous events.~JJL American Financial Exchange (AFX), an electronic exchange for direct lending and borrowing for American financial institutions, is looking for interns for the fall, spring and summer. They are looking for motivated undergraduate and graduate students in economics, business, finance and other related fields who wish to spend a semester working in the marketing or research departments of the exchange. The internships are based in Chicago. For further information, please contact Rafael Marques at AFX Internship Program: rmarques@theafex.com.~JJL Good…

The Big Hedge-Fund Strategy That Isn’t Working Standard

Observations & Insight The Spread – Thin Crust Pizza – 8/24 JohnLothianNews.com Most of the time, we go for a smattering of everything on “The Spread.” But this week there was a story that got a lot of clicks and stirred up the pot, so we thought we’d just address the issues that arose from that. Watch the video and see the stories referenced here » ++++ Monday Mutterings Spencer Doar – JLN There was a breakthrough in trade negotiations with Mexico today (link to Fox Business). The two sides agreed to a new pact called the United States Mexico…