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Author Archives: Jim Kharouf

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

ICO Rules and Regs: Initial Coin Offerings Under Regulatory Spotlight Standard

So you want to launch an initial coin offering? Better buckle up and lawyer up. At the FinTank CryptoCon event in Chicago on Thursday, two attorneys addressed the complexity and pitfalls that come with launching an ICO. Barbara Jones, an attorney with GreenbergTrauig, said there continues to be some ambiguity over regulation of ICOs. SEC Chairman Jay Clayton has said numerous times that he has not seen a token from an ICO that is not a security. Meanwhile, Commodity Futures Trading Commission Chairman Chris Giancarlo is considering tokens as commodities, and has said the commission will pursue any cases involving…

Slippery Slope: Let’s Let Markets Decide On New Contracts Standard

Do exchanges need further regulation on the contracts they launch? That is the question the Commodity Futures Trading Commission is addressing now with the so-called self-certification process for new contracts. Exchanges have not faced this type of scrutiny over the launch of a new product in recent history until Bitcoin. Several new contract ideas have been squashed by legislation or regulation, including movie futures and onion futures way back when. But for the most part, exchanges are allowed to introduce new contracts as they wish and ultimately let the markets decide on whether or not they offer enough value to…

Turn Yourself In, It’ll Be Easier: Bank Cooperation On Spoofing Charges Saves Millions Standard

Over the past several months, there has been a fair amount of talk about the Commodity Futures Trading Commission’s push on the so-called “self-reporting” initiative launched last September and aimed at taking it easier on firms that come forward with wrongdoing. Yesterday’s announced spoofing charges and fines include one of the first such self-reporting cases, with HSBC Securities settling for $1.6 million, Deutsche Bank for $30 million and UBS for $15 million. Each was noted for their self reporting by James McDonald, the CFTC’s director of enforcement, who said in a statement: “Today’s enforcement action demonstrates that the commission will…

THE Infrastructure Project: Trading Technologies and Coinbase’s GDAX Partner On Deal To Connect Cryptocurrencies To Institutions Standard

Cryptocurrency trading moved further into the mainstream today with the announcement that Trading Technologies and the Global Digital Asset Exchange (GDAX), one of the largest cryptocurrency exchanges, have partnered to offer the cash products on TT’s platform. This deal is potentially huge in the development for the newest asset class, cryptocurrencies, as it represents another major player in the derivatives space expanding the infrastructure for it. TT and GDAX, owned by Coinbase, will be offered to customers beginning in March. With 19 of the top 20 futures commission merchants connected to TT, this will enable customers who already trade cryptocurrencies…

You Can’t Rain On Our Parade: Cboe’s Big 2017 Includes Bitcoin Futures. Can It Overcome Regulatory, Margin and Volatility Headwinds? Standard

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To hear Cboe Global Markets Chairman and CEO Ed Tilly tell it, his exchange group is firing on all cylinders and adding new ones to the engine. The exchange boasts the top US equity options market and has a lock on volatility products with the VIX futures and options and related exchange traded products. Cboe now has the top pan-European equity market and the second ranked US stock market, as well as a burgeoning FX business. As the migration of its exchanges onto the Bats trading platform continues, with Cboe Futures Exchange due up next month, its technology is taking…

On Your Radar: Roy Saadon’s Firm Aims To Provide A View On Risks Across The Board Standard

If you could monitor all of the operations issues at your firm, how would you do it? And not just tracking problems in the back office, but those in the order routing, middle office, regulation and compliance areas, too – all of it. As much as CEOs and compliance officers want to know where problems and risks are cropping up, most firms now run 20 to 30 or more systems internally. Roy Saadon says monitoring all of those systems is a daunting task, and it’s what his young firm, Access Fintech, is trying to address. Saadon, who co-founded Traiana, launched…

What Does Your Cloud Data Look Like? QuantHouse Is Moving Historical Data On-demand To The Cloud Standard

The data cloud shift aims to transform how firms research, trade and evaluate their strategies It’s all about the data. The lifeblood of trading is simply that – data – how to get it, how to decipher it and how to trade off it. The good news for traders is that it is now more accessible, flexible, and researchable than ever, especially with the rapid evolution of cloud technologies. QuantHouse, a market data, algo development and trading infrastructure provider, is pushing hard to move its data to the cloud, a strategy that Pierre Feligioni, co-founder and CEO of QuantHouse, says…

Deep Dive With JLN: How Can The Financial Industry Draw In The Next Generation Of Talent? Standard

Note: Scroll to the bottom to view the video in three smaller segments.  The future for the financial markets is bright, even if the headlines don’t always say so. John Lothian News’ CEO Jim Kharouf sat down with Brian Mehta, chief marketing officer at Trading Technologies, and Doug Monieson, partner at Hyde Park Angels, to talk about what will attract the next generation of traders and professionals into this space. From college outreach programs like TT CampusConnect to a variety of new education, training, competitions and platforms that open the world to new traders with new ideas, both see the…

We All Love Data: Barchart’s Latest Move Continues The Trend Of Firms Pushing Further Into The Data Space Standard

It’s all in the data. Yesterday’s announcement from Barchart about its new commodities data offering, called cmdty, is part of the drumbeat of new products and services that are designed to bring something new to the market participants they serve. “We want to differentiate ourselves,” said Keith Petersen, head of strategy at  Barchart. “Aggregating and compiling new data sets and cleaning them so people don’t have to do that themselves and distributing that to them in easy-to-use formats, that’s our value-add.” In many ways, this is only the beginning for data. In Barchart’s case,  the cmdty product’s focus is on…