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Author Archives: Jon Matte

About Author

Matte is chief operating officer of John J. Lothian & Co. He edits the John Lothian Newsletter, JLN Forex and MarketsWiki.

John Lothian Newsletter: LSE CSD to get final green light by Christmas; LCH.Clearnet interest rate swaps fall in value; Deutsche Bank Shutters Precious Metal Trading Amid Cuts Standard

First Read …and thanks for all the fish! Jon Matte “I think I’ll do a final essay filled with incoherent mystical nonsense and then make some vague, sweeping market observations,” I told John. He swerved in traffic and narrowly missed a Kia sputtering along in the middle lane. “The hell you will.” “But it works for Bill Gross,” I argued. “When you manage eighty million, billion, trillion dollars, you can do what Bill Gross does,” he said flatly. “Look, just put in a short, respectful note, say thank you for everything, and maybe put in your email address in case…

John Lothian Newsletter: Tokyo SE drops longer opening plan on strong resistance; KCG warns slow traders over exchanges; SGX to Start Bond-Trading Platform by mid-2015 Standard

First Read Happy Thanksgiving By John J. Lothian All of us at John Lothian News wish all of those who observe the U.S. Thanksgiving holiday a safe, warm and loving day and weekend. It is time of Thanksgiving for family, friends, colleagues and even strangers to share a feast and the warm glow of the bounties that God has bestowed upon us. I am particularly grateful this Thanksgiving for the contributions to this newsletter and news organization from all its contributors, but especially Jon Matte. As you know, Friday is Jon’s last newsletter and then he is leaving John J….

John Lothian Newsletter: CME’s Market Surveillance Found Lacking by Its Chief Regulator; Bats tilt prices in favour of HFTs; US prosecutors to interview London FX traders Standard

First Read It’s Time Jim Kharouf, Editor-in-Chief, John Lothian News It’s time for the derivatives industry to innovate again. The last several years have been focused on redefining, resizing and revising the industry’s structure and rules. Now with much of that set, it’s time for some real product innovation. There are many areas in which innovation can be extended and explored but for the purposes of this column, it’s in the contract space. An argument could be made that the last great product innovation in the derivatives industry was the CBOE Volatility Index futures, an index that was launched 10…

John Lothian Newsletter: Sao Paulo-based exchange eyes stakes in Latin American rivals; Slow start fails to dim Stock Connect prospects; Call to close loophole that allows shadowy short selling Standard

First Read IEX Winning Support from Investors as Orders Get Routed Its Way Sarah Krouse – MoneyBeat – WSJ Leading U.S. brokers have agreed to help clients automatically send a percentage of their orders to IEX Group, a sign that investors are eager to use the year-old stock trading venue. jlne.ws/15d5uyf ***** Whoa! Slow down there boys. ++++ FIA Elects Two New Board Members Press Release FIA today announced the election of two new members to its board of directors: Tom Kadlec, president of ADM Investor Services, and George Simonetti, managing director and head of Markets Clearing and Futures Execution…

John Lothian Newsletter: Deutsche Boerse Will Return to Currencies After 16 Years; CFTC warns EU rules may force tighter US derivatives regulation; GMEX Sees U.S. and Buy Side Interest Standard

First Read Bits & Pieces By John J. Lothian Today we have a video from our London education series. It was the last presentation of the series, but not the last one we will show you. It features Simon Puleston Jones, CEO of FIA Europe on the subject of happiness. It is a must see video and one you should share with colleagues and your children if they are old enough. Simon talks about DREAM, which I will let him explain. It was a terrific end to the series and our RJ Roxas did a terrific job of cutting up…

John Lothian Newsletter: SEC enacts rules to protect exchanges from glitches; BATS Global Markets to Lay Off 56 Employees; CFTC Launches National Campaign to Protect Consumers from Financial Fraud Standard

First Read A Smart Idea Doug Ashburn – JLN We admit it – over the years we have leveled our share of criticism toward the CFTC, its commissioners, some of the things they say and certain rules they have published. Lately, though, we have had mostly good things to say. The new chairman, Tim Massad, has struck a more conciliatory note with market participants in the U.S. and, perhaps more importantly, abroad. In recent days, new commissioners Chris Giancarlo and Sharon Bowen have each stressed the need to balance the mandates of Dodd-Frank with the realities of the marketplace and…

John Lothian Newsletter: Demand for China’s Stock Connect slumps; Exchange Technology Rules Set for First SEC Upgrade Since 1990s; Europe eyes longer respite for U.S. swaps clearers Standard

First Read Trading Tech 300 Includes Girls John Lothian The first email I received after publishing my piece about Trading Tech 300 was from a concerned female reader inquiring about what I was going to do for girls. A lot, I told her. Anyone who knows me knows how strongly I feel about women deserving an equal opportunity in our society. First, let me say that the Boy Scouts of America includes girls. We don’t make a big deal out of it, mostly to avoid annoying our friends in the Girl Scouts, but the BSA has girls. There are girls…

John Lothian Newsletter: Aequitas Aims for 20pct Share After Approval; LCH.Clearnet plans Japan clearing expansion; FX trade body accepts prospect of exchange-based dealing Standard

First Read CME: Chicago Mustache Exchange Doug Ashburn – JLN It is mid-Movember, which means mustaches are sprouting from the upper lips of men across the world in support of men’s health. Our friends at CME Group have put together a team of 46 Mo Bros and Mo Sistas called the Chicago Mustache Exchange. As of November 17th, the team has raised over $28,000. From the team’s statement: As the world’s leading and most diverse MUSTACHE marketplace, THE CHICAGO MUSTACHE EXCHANGE (CME) is where the world comes to manage MEN’S HEALTH risk. CME offers the widest range of global benchmark…

John Lothian Newsletter: SGX talks to banks over launching Asian corporate-bond platform; Link Opens Between Hong Kong and Shanghai Stock Markets; Trading goes back under the hammer Standard

First Read Hunting Guide: Paul McCormick Helps Students Find Financial Jobs JohnLothianNews.com London’s financial industry employs about 250,000 people and the hurdles are high for new graduates and young professionals. Paul McCormick, of Thomson Reuters in London is trying to help the next generation into the markets with helpful advice about getting a job. His blog, www.openingcitydoors.co.uk, may assist in bringing the best and brightest to firms. “There’s a couple hundred companies in this industry,” he said. “All of these companies have got demand for talent each year. But from a graduate point of view, where do you start, you…