Breaking News

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.

JLN Special Report: January 2012 Volumes Down Standard

Jim Kharouf

On Your CalendarA little over a month ago, I asked an exchange executive about falling volumes in the options space, to which he said. “January is going to tell us a lot.” January’s message to the options industry wasn’t kind. Most exchanges are reporting lower volumes for the month. Some may call it an off month, but given a host of events that have hit the financial markets – futures, options, stocks and currencies – January may be a harbinger for a rough 2012. CNBC’s Bob Pisani wrote a good story about equity market volume drops and its causes. He pointed out…

JLN Managed Futures: February 1, 2012 Standard

>Five Minutes with Carlton Chin of Adamah CapitalCarlton Chin is chief investment officer and head of research at CARAT/Adamah Capital LLC, a fund manager and CTA focused on systematic managed futures strategies. An investment professional since 1990, he spoke with Managed Futures Newsletter editor Jim Kharouf about his start in the business, whether markets change and how he looks at volatility. Q: How did you got into the managed futures space?I’ve been in managed futures since 1993. My first job was as an actuary, a pension consultant actuary where we’d put a price tag on a pension. I always had…

Five Minutes with Hamish Purdey Standard

Hamish Purdey

On Nov. 22, FFastFill announced a deal to acquire WTD Consulting, Inc, a Chicago-based technology consulting and software solutions business for up to $12 million. The deal enables the company to complete the customization of its back-office product, Eclipse, for the U.S. market and is expected to boost FFastFill’s U.S.-based business. John J. Lothian & Co. editor-in-chief Jim Kharouf spoke with Purdey about the deal, the firm’s latest earnings and the impact from MF Global’s bankruptcy on the independent software vendor (ISV) space. Q: Why did you decide to do the WTD acquisition? A: We’ve known them for a long…

Apology accepted, now… Standard

Jim Kharouf

In an elevator in the Chicago Board of Trade Building in Chicago, one guy was speaking with another. “They ought to take everything he owns, sell it and add that to the money that he stole,” said the guy, referring to former MF Global CEO Jon Corzine. He paused for a moment. “But that’s not gonna happen.” Bing! The doors opened and that was the end of the conversation. Ride the elevators at the storied and proud CBOT for a while and you’re likely to hear some version of that conversation again and again. People are mad – no, angry,…

Futures Seeing Blue Standard

Jim Kharouf

As regulators, exchanges and firms comb through the mess that is MF Global, its painfully clear that this industry needs some self-examination. One of the life bloods of the futures business has come from retail and individual traders who help pump in liquidity. One may argue that some, even much of that needed speculative liquidity is now being supplanted by the proprietary trading shops and other institutional players in this space. Nonetheless, MF Global’s spectacular fall has harmed the reputation of the futures industry and produced what every good broker tries to avoid – lousy and in some cases disastrous customer experiences….

Five Minutes with Bryce Engel Standard

Bryce Engel

Bryce Engel is president and chief operating officer at Penson Worldwide, Inc., a post he took in June 2009. Prior to joining Penson, Engel served as senior vice president with TD Ameritrade, overseeing retail client services and support, institutional and clearing operations. He spoke with Jim Kharouf, editor-in-chief of JLN about his 13 years at TD Ameritrade, Penson’s plan to shed oversees business and concentrate on North America, as well as plans to introduce managed futures. Q: How did you get started in the financial services industry? A: I started with TD Ameritrade before there was a TD or an…

The ICE-man cometh Standard

Jim Kharouf

(The first time something like this happened John was away. This time, John is away on a trip. This goes to show that the world turns, even when John is away or as I see it, it turns more meaningfully when Jon Matte and I are running the newsletter.) I doubled checked with ICE to make sure this wasn’t some kind of elaborate Jeff Sprecher April Fools joke. If this bid from ICE and Nasdaq for NYSE Euronext succeeds, ICE could pull off the biggest deal and perhaps one of the best deals in exchange history. ICE’s portion would mean…

Five Minutes with Lilia Severina Standard

The annual Futures Industry Conference at the Boca Raton Resort & Club is great for catching up with old friends and clients, but each year, new attendees arrive to make their name known. Jim Kharouf sat down with Lilia Severina, collocation and proximity hosting director of Interxion (pronounced Inter-Action), which is based in Amsterdam and went public in January. (The firm announced its first quarterly earnings report on March 23, 2011) Severina spoke about what the firm does in co-location and its goal to bring more U.S. clients over to Europe, where its operations are well established. Q: Let’s start…

“All We Are Saying…” Standard

A special thanks to the USDA, CFTC and Farm Foundation for the opportunity to speak at the Carbon Market Design: Issues and Opportunities Workshop on Monday in Washington. Nate Higgins and his team did a great job of putting the program together and featured a number of different speakers with a variety of viewpoints – some which embraced the markets-based approach and some which did not. A few observations from this workshop. In the words of Richard Sandor, markets take years to build. So even though Congress closed the window on carbon markets in the near-term, others are on the…