Breaking News

Author Archives: Jim Kharouf

About Author

Kharouf is CEO of John J. Lothian & Co. and editor-in-chief of John Lothian News (JLN). He edits the John Lothian Newsletter, MarketsWiki and MarketsReformWiki.

JLN Exchange Leader Series 2017: Durkin Says CME Growth Is All About Customers Standard

CME Group is proud of the diversity in its product lines – from a broad range of commodities to a full suite of interest rate, index and FX contracts. That range of contracts has allowed the exchange to “hit” consistent winners somewhere on the board, as markets move from one sector to another. Bryan Durkin, president of CME, told JLN at the FIA Boca 2017 conference, that energies, metals, interest rates and FX posted solid, if not record volumes last year. This year, they hope that diversity continues to pay off. “We really focused on our international footprint,” Durkin said….

JLN Exchange Leader Series 2017: Jeff Sprecher Says ICE Ready To Roll Out Data and Analytics To Meet The Demand For More Info Standard

The Intercontinental Exchange underwent some dramatic changes in 2016. With the purchase of Interactive Data at the end of 2015, ICE spent last year integrating that company along with several others, giving the exchange a major footprint in the data, analytics and research space. ICE Chairman and CEO Jeff Sprecher sat down with JLN at the FIA Boca 2017 Conference to speak about that push as well as what’s next for the exchange. “We spent a lot of our time integrating our data acquisitions, which were new to us, and finalizing the infrastructure that we have been building out for…

Time To Revive Financial Innovation Standard

So the pendulum swings. In recent days and weeks, financial industry participants have welcomed a softer tone on regulation from the Trump Administration. For some in the industry, the heavy lead regulatory blanket that has weighed down the industry appears to be lifting. Could we be opening the doors to a new era of financial innovation? In the midst of the Dodd-Frank Act rules rollout, mandated by Congress and ushered in by the CFTC and SEC among others, we’ve seen little progress in terms of innovation within the financial services sector with the exception of reporting, compliance and audit solutions….

Walt Lukken: Three Ideas for Trump and a New Optimism for FIA Boca Standard

After almost seven years of Dodd-Frank reforms, the industry has adjusted, reacted and adapted to the new regulatory structure. Now with the new Trump administration in Washington, the FIA sees an opportunity to take stock of what’s been done and what might be the best plan going forward. There’s no doubt the industry has struggled to comply with the spate of new rules from the CFTC, not to mention from other federal agencies. Walt Lukken, president and CEO of the FIA, has advocated for looking at three main areas of regulation that maintain regulatory reforms but allow for more sensible…

20/20 Vision: Richard Sandor, Inventor Of Market Solutions, Releases New Book On Environmental Markets Standard

There are few who change the world in a profound way. Richard Sandor, who brought us the first interest rate futures contract, also created the Chicago Climate Exchange in 2003. CCX launched a new set of greenhouse gas contracts as an innovative step to solving the issue of global warming. In his latest book, “How I Saw It,” Sandor republishes many of the columns he wrote from 1999 to 2005 during that pivotal time in the development of environmental markets. Despite what some may think about carbon markets today – as a politically unpopular solution in Washington – it’s a…

Brand New: Hehmeyer Moves Into Managed Futures & More Standard

Sometimes it’s time to diversify. Chris Hehmeyer formed a new firm called Hehmeyer Trading & Investments LLC that will expand into the managed futures and introducing broker space. The renamed company comes from his prior firm, HTG Capital Partners, which acquired Kottke & Associates in late 2016. The new name helps simplify things for Hehmeyer, who has integrated HTG’s proprietary trading operation along with Kottke’s commodity trading advisor and introducing broker business. Hehmeyer, who serves as CEO of the the new entity, sees plenty of opportunity in the CTA business. He said there is an appetite for non-correlated investments and…

The Case That Changed the Industry Standard

Back in 2005, I began covering a major development in the financial industry – patents. More specifically, I began covering the patent infringement cases by Trading Technologies against a number of firms including CQG.  That case, which lasted almost 12 years with appeals, is now essentially settled by the US Court of Appeals for the Federal Circuit, which affirmed the validity of TT’s patents, and essentially backed a lower court’s finding that CQG infringed on TT’s patents. The settlement awarded in the lower court was for $16 million.  TT’s patent litigation is well-known in the industry by now. But in…

Hungry for more: Dash Financial Sees Opportunity In A New Broker Landscape Standard

For some firms today, being young has its advantages. Dash Financial might just be one of those young and agile companies that can take advantage of the currents that are pushing and pulling the industry. Later this quarter Dash is expected to complete its acquisition of LiquidPoint, Convergex’s options brokerage and technology business, thus giving the combined firm 13 percent of the equity options and index options market volume. That’s more than double the current marketshare Dash Financial has quickly built since it launched in 2011. Peter Maragos, CEO of Dash (soon to be renamed Dash Financial Technologies), said the…

The End Of The Line Standard

So it appears this is the end of the line for Jon Corzine, the disgraced former head of MF Global, the man who essentially brought down the firm with lousy trades on European debt markets, helped cripple the futures industry and tarnished its once iron clad guarantee on customer funds. The firm dipped into customer segregated funds, something Corzine has long denied knowing, and left the collapsed firms’ customers wondering what happened to more than $1 billion of their money. The CFTC settled its case with Corzine yesterday, as the man, the myth, agreed to a lifetime trading ban from…