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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.

Carbon fists Standard

Today’s lead story US Congress inquiry reveals fake letters from ‘voters’ opposed to climate bill from the Guardian is not exactly a new story. (It’s a week or so old now.) But it does highlight one important trend and fact that needs to be dealt with by Democrats, Obama Administration and Cap-and-traders if they are serious about climate bill passage by the Senate. There was an interesting battle fought some years ago as the German exchange, Eurex, tried to enter the US with a separate exchange called Eurex US. Eurex US was eventually launched in 2004, with an eye toward…

How Congress has lost its mind Standard

A friend of mine in this space likes to say that “Congress understands cap, but they don’t understand trade.” And after reading today’s top story Goldman Faces Carbon Market Curbs in Senate Proposals from Bloomberg, it’s quite obvious some definitely don’t understand trade – as in trading the markets. The headline is misleading because its not just Goldman (Congress’ favorite profitable punching bag) that would be barred or limited from trading carbon if Maria Cantwell has her way, it would be all financial firms. What Obama and the Treasury Department has proposed in its latest regulatory overhaul is the regulators…

China’s climate dilemma Standard

So the US and China made nice on climate change right? On Tuesday they signed a memorandum of understanding (MOU) that Secretary of State Hillary Clinton says “provides our countries with direction as we work together to support international climate negotiations and accelerate the transition to a low carbon economy.” Great. But then you read further down the Reuters story “U.S. and China sign memorandum on climate change” in today’s Lead Stories and State Department spokesman Ian Kelly says “It is not an agreement per se for each side to commit themselves to some particular target. It sets a structure…

Five Minutes With Edemir Pinto Standard

Edemir Pinto is CEO of BM&FBOVESPA, a position he has held since BM&F and Bovespa merged in May 2008. Prior to that, he served as CEO of BM&F and he has held key positions at the exchange since he joined in 1986. JLN’s Jim Kharouf spoke with him about the merger, the economic downturn, its partnership with CME Group and the potential for BM&FBOVESPA. Q: BM&F and Bovespa merged in May 2008. What has that merger done for the exchange over the past year and what has been your biggest challenge as CEO? A: The merger has strengthened the Brazilian…

Five Minutes with Mike Manning Standard

Mike Manning

Mike Manning recently announced he is retiring after 37 years in the futures industry. During his career, he has worked and served on almost every level in the business, from runner to trader, back office at Goldberg Brothers Trading and LIT Amercia to president and CEO of Rand Financial, a perennial top 50 broker. Manning also served on the board of governors and numerous committees at the Chicago Board of Trade. He spoke with JLN’s Jim Kharouf about his career, market events and his Chicago firefighter roots. Q: How did you get started? A: I was attending the Chicago Teachers…

Five Minutes with Mike Bickford Standard

Mike Bickford

Mike Bickford retired as senior vice president, options at the American Stock Exchange (Amex) last October. He is currently pursuing new challenges in the securities industry. Bickford has been in the financial services industry for 30 years and spoke with JLN’s Jim Kharouf about his career, the options markets, ETFs and one of his outside interests, baseball. Q: How did you get your start in the financial markets? A: I started out as retail broker for Dean Witter in 1978. I had an undistinguished and short career in October of 1978 as the market went from 800 to 700 on…

Five Minutes with Will Easley Standard

Will Easley

Will Easley is managing director of Boston Options Exchange (BOX), which hosted the Options Industry Conference (OIC) last week in Weston, Fla. Easley joined the exchange as project manager in September 2001 and took the reins at the exchange as vice chairman last year. MarketsWiki’s Jim Kharouf spoke with Easley about the challenge of putting together a conference in the current market environment, where BOX is going next and where to eat in Paris. Q: So you’ve hosted your first OIC and the conference had slightly over 400 attendees. How did it go, planning for such an event in the…

Five Minutes with Tom Haldes Standard

Tom Haldes

Tom Haldes is senior product manager, trading automation at Trading Technologies. He is responsible for driving the vision and product strategy for TT’s automated execution capabilities, including grey box application technology, interfaces for black box trading and historical tick data systems. Prior to joining TT in 2006, Tom was head of global market data development for Citadel Investment Group, responsible for developing the firm’s real-time data infrastructure pricing and historical tick data. He also held senior management positions with Reuters. Haldes talked with MarketsWiki‘s Jim Kharouf. Q: How did you get into the business? A: I started as a UNIX…

Five Minutes with Satish Nandapurkar Standard

Satish Nandapurkar

Satish Nandapurkar is among the pioneers in the new era of exchanges as they went public, international and electronic. He most recently joined the pioneering marketplace – the Chicago Climate Exchange (CCX) – as president in September 2008. He served as CEO of Eurex US and US Futures Exchange and was managing director and head of products and services at the Chicago Mercantile Exchange as it went through its demutualization and IPO. Nandapurkar also worked in a number of capacities at firms including: O’Connor & Associates, Bank of America, Deutsche Bank Morgan Grenfell, Swiss Bank and OptiMark Technologies. He spoke…