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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.

The Next Big Thing; Seismic Foundry Aims To Find The Next Disruptors And Leaders In Fintech Standard

Who will be the next big thing in our industry? A new London-based firm is aiming to find it. Seismic Foundry, co-founded by Bill Templer, Brendan Bradley, Cathryn Lyall, Dave Feltes and Jeff Gale, is looking for the next fintech start-up that could become the next superstar in the financial industry. Of course, they are not alone and there are many firms from Chicago to New York to London and beyond that are looking to invest in those firms aiming to solve industry problems and disrupt inefficient sectors. But they are aiming at a slightly different market sector in the…

Round One: How Overstock.com and tzero aim to knock out Wall Street Standard

Tzero using blockchain to trade and settle securities, cutting out the need for stock exchanges and clearinghouses There are fintech disruptors and pioneers and then there are those who want to knock Wall Street off its feet. T0.com,or tzero, is looking to change the way stocks are bought and sold with a vision that changes how markets operate. Joe Cammarata, president of tzero, is no stranger to disruptive technologies on Wall Street. He’s made a living off it. From his involvement in building the first off-exchange equity network, Island ECN for Datek Securities, to the first smart order routing systems…

The Solutions To All Your Post-Trade Problems Standard

The post-trade clearing space is full of new entrants and innovation from incumbents. Firms are looking at everything from collateral management to new back office systems to finding new efficiencies to real-time reporting with current back office systems. John Lothian News spoke with six professionals at the FIA IDX 2017 conference in London earlier this month about solutions to key challenges in the post-trade space today. We first spoke with them about their key problem. JLN spoke with Clive Furness, managing director, Contango Markets, Collin Platt, co-founder, Dpactum, Jaki Walsh, chief product officer, Sernova, John Avery, director, client & industry…

The Problem With Post-Trade Is… Standard

The post-trade clearing space is full of new entrants and innovation from incumbents. Firms are looking at everything from collateral management to new back office systems to finding new efficiencies to real-time reporting with current back office systems. John Lothian News spoke with six professionals at the FIA IDX 2017 conference in London earlier this month about the key problem they see in the post-trade space today. We followed it up with their solutions to that problem. JLN spoke with Clive Furness, managing director, Contango Markets, Collin Platt, co-founder, Dpactum, Jaki Walsh, chief product officer, Sernova, John Avery, director, client…

Cold as ICE: Sprecher asks UK, How much do you love me? Standard

In the battle for financial markets in Europe, exchanges would like some more communication about why they should stay in the UK. 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 upcoming MiFID II rules in January, not to mention the ongoing questions about equivalent financial regulations after…

Meet My Connection: BSO Finding Ways To Connect Traders To Emerging Markets Standard

Archimedes is credited with saying “The shortest distance between two points is a straight line,” but that’s not always the fastest. Michael Ourabah says the fastest route to and from emerging markets is through his network BSO. The firm, effectively started by Ourabah out of his college dorm room in France in 2004, has found its niche in helping connect trading firms, banks, brokers, and technology firms from major financial hubs to developing markets. And with that, revenues have grown from $1 million in year one to more than $25 million. Ourabah looked at the speed race between telecom providers…

How Do You Save the Capital Markets? Standard

Kennedy Looks to Lead Market Revamp Kevin Kennedy is my new hero. The senior vice president and head of equity options, on stage at the Options Industry Conference last week, spoke about taking the lead on a new initiative to change the existing financial and regulatory structure for financial markets. And he urged the other exchange executives from the other four major options markets to join him. In today’s political environment, it takes courage for someone to stand up and say they want to fix the financial markets so they stay the envy of world capital markets.  And there is…

All Together Now: Exchange Leaders Call For Cooperative Approach To Changing Market Structure Standard

U.S. equity options leaders said today’s market structure needs fixing and vowed to work together to address it at the Options Industry Conference in Scottsdale, Arizona. Among some of the structural problems are a perceived lack of liquidity, a rigid regulatory structure that has supported the fragmentation of markets, and a concentration of volume on a relatively small number of listings. Kevin Kennedy, who serves as senior vice president, head of U.S. options at Nasdaq, called for the exchanges and participants to work together to upgrade the market structure so it works better and more efficiently in the coming years….

Options Industry Conference Update: Congress Continues To Push For Avoiding Unintended Consequences in Tax and Dodd-Frank reforms Standard

The 35th Annual Options Industry Conference kicked off on Wednesday with a major focus on Washington, especially on a host of new proposals on tax and Dodd-Frank reforms. The conference, hosted by Intercontinental Exchange’s NYSE in Scottsdale, Arizona, led with an interview with Congressman Tom Reed (R-NY 23rd District) who outlined initiatives to address tax reform in 2017. Reed told OCC’s Executive Chairman and CEO Craig Donohue that the tax reform may have enough support in Congress to get it passed this year. As it pertains to the financial industry, Reed said one of the goals of a new tax…