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Brexit: Bonus Coverage Standard

EDITOR’S NOTE: Below is a collection of news stories regarding the recent vote in the UK to leave the European Union (aka Brexit).  You can see the top stories we chose in the JLN Newsletter for June 24, 2016. A Quick Guide to Brexit and Beyond; So what happens next?Lisa Fleisher – BloombergWhat just happened?The U.K. voted 52% to 48% to leave the European Union in a referendum that revealed deep divisions within political parties, across generations and between geographic regions of the Commonwealth.http://goo.gl/4ZHZPQ BOE to ‘Take All Necessary Steps’ Following ‘Brexit’ Vote; The Bank of England says it undertook…

Brexit: Bonus Coverage Standard

EDITOR’S NOTE: Below is a collection of news stories regarding the recent vote in the UK to leave the European Union (aka Brexit).  You can see the top stories we chose in the JLN Newsletter for June 24, 2016. A Quick Guide to Brexit and Beyond; So what happens next?Lisa Fleisher – BloombergWhat just happened?The U.K. voted 52% to 48% to leave the European Union in a referendum that revealed deep divisions within political parties, across generations and between geographic regions of the Commonwealth.http://goo.gl/4ZHZPQ BOE to ‘Take All Necessary Steps’ Following ‘Brexit’ Vote; The Bank of England says it undertook…

FCM Outlook 2016: Brokers Finding New Fields Of Green Standard

Futures Commission Merchants have not had an easy time of it in the years since the 2008 Financial Crisis and the subsequent regulatory and interest rate avalanche. For many firms, it’s been a perfect storm of financial crisis, low to no interest rates and volatility, and an ongoing crush of new rules and regulations from U.S. and European regulators. For some firms, the combination has been stifling, while others have shut down or sold out to other, stronger players. In January, the number of FCMs stood at around 60, down from 139 in 2008, according to data from the National…

CurveGlobal’s Michael Davie Looking For New Twist On Interest Rates Standard

CurveGlobal CEO

Newcomers are always looking to disrupt the status quo or add value to the marketplace. And CurveGlobal, a product development joint venture of the London Stock Exchange Group, CBOE and seven global banks, is planning to do both when it goes live later this year. While much is being made of the LSEG’s potential merger with Deutsche Boerse, Curve Chairman Michael Davie told JLN at the FIA Boca conference that the company is focused on continuing its work to pull the initiative and its customer base together.  Curve, which is technically a product development vehicle, plans to go live in Q3. “The…

2016 Exchange CEO Series: Nasdaq Futures’ Magnus Haglind Bullish On Energies Standard

Nasdaq Futures (NFX) shook up the energy futures space last year with its entry into the energy exchange space in July 2015. Now the company is looking to gain some ground on its established competitors, CME Group and Intercontinental Exchange. With gas oil and natural gas futures now attracting acceptable volumes for NFX, Magnus Haglind, CEO of Nasdaq Futures, Inc. told JLN that the exchange is focusing its attention on Brent, WTI and other energy futures. Beyond that, Haglind said it plans to set its sights on options on those products as well. Haglind said the market is growing, in…

A note from Don Wilson of DRW Standard

After a week as JLN guest editor, I’ve returned for one more day as one of today’s headlines hits a personal note. I will keep the commentary brief, and let the publicly available facts speak for themselves. I am more baffled now than I was two-and-a-half years ago when these charges were brought against my firm and me.  At the time, I didn’t know about the existence of the NFA report, or that the CFTC had evidence of our efforts to transact with MF Global when it accused us of cancelling orders to avoid transacting – both of which are…

Phupinder Gill, CME Group – A Look Into Your Future Employment Standard

It’s not easy to predict much about the future. But Phupinder Gill, CEO of CME Group, is looking forward to see just where the next generation, the so-called Generation Y group, fits into his business. “Ten years from now, we don’t count anymore,” Gill said of himself and most others in the C-suites. “In 10 years from now, the people who will be running this world are you folks. The people who will be influencing the world in the direction that we’ll be in 10 years from now are, again, you folks.” In 2021, because of the workforce when today’s…

A Disruptive Environment: Sidley Austin’s Lisa Dunsky Offers Practical Compliance Tips for Firms and Traders Standard

In May 2013, the Commodity Futures Trading Commission finalized its interpretive guidance on disruptive trading practices, as mandated by the Dodd-Frank Act, which defined disruptive trading as any trading activity that: violates bids or offers; demonstrates intentional or reckless disregard for orderly execution; or is of the character of, or is commonly known to the trade as, “spoofing” (bidding or offering with the intent to cancel the bid or offer before execution). In August 2014, CME Group published an advisory notice on a new rule, Rule 575, (“Disruptive Trading Practices Prohibited”), that codified the types of practiced that the exchange…

Chris White, Viable Mkts – De-Constructing Finance: Simplifying Wall Street Standard

“The most important thing you have to do at the beginning of your career, and actually throughout your career, is to make sure your foundation is in place, because what happens is, people sort of shake their heads and pretend that they know things, and then eventually things get more complex and you realize you don’t know what you’re talking about.” Chris White learned the ins and outs of the markets while at Goldman Sachs, but to do that, he needed to master the financial language. He takes the audience through a fun, interactive word game that helps teach some…