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Author Archives: Jim Kharouf

About Author

Kharouf is a Chicago-based freelance reporter and editor who was previously CEO and editor-in-chief of John Lothian News.

AI is changing this industry. Now what? Standard

I spent last week listening to experts in artificial intelligence talk about what AI can and will bring to the markets and the broader world.   What is patently clear is that AI is here now and is only going to expand. As Jay Biondo, product manager, surveillance at Trading Technologies told me, it’s everywhere already – from Amazon’s Echo (usually called Alexa) to Netflix’s suggested picks. It’s part of Charles Schwab’s brokerage service which will allow its brokers to service thousands instead of hundreds of customers, according to Jack Boyle, vice president derivatives & trading support at Charles Schwab,…

Finding Opportunity: Peter Lenardos, CFO, Cinnober Says Growth and Profitability Are Coming Standard

Cinnober has built its reputation in the industry as a pioneer and an opportunistic company that looks for new ways to address market needs. So in many ways it was not surprising the firm hired Peter Lenardos as its new CFO two weeks ago. With his background in investment research at Royal Bank of Canada and elsewhere, he has watched the industry from a specific lens that focuses on the financial condition of a company, as well as its strategic positioning.  When he got the call from Cinnober’s CEO Veronica Augustsson, he was ready to bring a different approach to…

What The Crypto World Needs Is Trading, Data and Infrastructure… From Milwaukee Standard

Derek Urben didn’t look the least bit nervous. As head of business development at Coinigy, he was in Chicago looking to break into the lucrative space of institutions interested in crypto trading, data and infrastructure. He wants to connect every broker, hedge fund and institutional player he can find to its pipeline of crypto markets around the world. Oh, and he had final exams at the University of Wisconsin-Milwaukee the next day too. If you met the tall, polite and whip-smart 21-year-old, you’d think, “this guy’s got a great future in the crypto or traditional markets” – until he starts…

Chicago is Crypto-fuel For the Coinbase Rocket Standard

My meeting with Paul Bauerschmidt has been reset three times and he’s running a few minutes late for our coffee in Chicago. It’s understandable. Since taking the role as co-head of Coinbase’s Chicago office last October, it’s been non-stop for Bauerschmidt and his office of nine and soon to be more. He is on board with one of the fastest growing crypto exchanges in the world and thrilled with the ride after helping build Eris Exchange and CME’s swap business before that. In many ways, he’s one of the new asset class pioneers in a city largely built by financial…

FIA IDX 2018 – Stuart Williams Says ICE Interest Rates Heating Up Standard

Stuart Williams, president of ICE Futures Europe, said regulatory and macro-economic trends are putting some wind behind its interest rate complex, a welcome sign for a market that stagnated during the post-2008 crisis. Speaking with John Lothian News at the FIA IDX conference in London in June, Williams said industry adoption of MIFiD 2 rules beginning in January, rising interest rates and the uncertainty of Brexit should continue to bolster volumes in these markets in the coming months. “It’s been the combination of political uncertainty in the UK not only driving Sterling, but also Europe, which has been driving our…

Can tZERO and BOX Digital Markets change the face of capital markets? Standard

It would not be an understatement to say that Patrick Byrne thinks big – really big – like a quadrillion dollar market. The Overstock founder and CEO has been building the firm’s tZERO subsidiary, a distributed ledger platform, since 2016 in an attempt to disrupt today’s capital market structure. Last week’s announced deal with BOX Digital Markets, a sister company to BOX Options Exchange, to create a Securities and Exchange Commission regulated market that lists and trades security tokens may do just that. The partnership could dramatically change how capital is raised across multiple asset classes and kickstart the clear…

Q&A With Don Ross: Can Equity Markets Benefit From Auctions? Ross Looks To Disrupt The Markets With On-Demand Auctions For Stocks, Just Like The Good Ole Days Standard

CODA Markets has been pounding a steady beat for on-demand auctions since launching CODA Block, a 30-second block auction program in 2017. With a new study from ViableMkts of the auction system, data shows CODA Block generally did not create adverse market moves when initiating an auction. Don Ross, CEO of CODA Markets’ parent PDQ Enterprises, spoke with JLN’s Jim Kharouf about the study and his view on auctions throughout the trading day. Q: You have been a proponent of auctions in securities and feature an auction mechanism on your CODA Markets platform. Why such a big fan? The biggest…

HKEx Looks To Make A Major Clearinghouse Upgrade Standard

Today’s markets and regulations are pushing exchanges to improve their technology, risk models and capital services. As such, Hong Kong Exchanges and Clearing has embarked on a major revamp of the clearing house’s platform, looking to upgrade its risk models and technology. Ryan Ingram, senior vice president, group regulatory analytics, risk policy and FMI strategy at Hong Kong Exchanges and Clearing, spoke with John Lothian News at the WFE IOMA Clearing and Derivatives Conference in Chicago in April about how the exchange is approaching this project and rolling it out over the next several years. “What we are doing now…

Fintech Exchange: Changing The Market Landscape Standard

The fourth annual Fintech Exchange event was held in Chicago on April 25 -26, with an eye toward up-and-coming companies and exchanges, as well as what’s new in the fintech space from established players. Here is a recap of the best of the two-day conference, hosted by Barchart.