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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: CBOE may cut VIX futures trading hours after glitches; Computer Malfunction Make Deutsche Boerse Halt Trading; Nasdaq lures HFTs in new Nordic strategy Standard

First Read Bits & Pieces, FIA EXPO Edition By John J. Lothian SGX is celebrating the 30th anniversary of the launch of SIMEX and has published an anniversary video, which John Lothian Productions contributed some of the interview footage from U.S. sources. Take a look at the video, at jlne.ws/1Gf7dBg The CFTC is holding a meeting to decide a few “bits & pieces” of its own today beginning at 9:30 CST. They are looking at tweaks to the residual interest rule, the definition of swaps concerning forwards with “volumetric optionality” and the recording of transactions. To view a webcast, click…

John Lothian Newsletter: CME Group reports big switch to futures; Pimco Pulled Futures-Clearing Business From State Street; NYSE Had Malfunction in Price Feed Standard

First Read Bits & Pieces By John J. Lothian The first order of business is to wish you all a Happy Halloween. It is nice that it is not happening in the middle of the FIA’s EXPO, which is next week. If you need a ticket to the EXPO Hall, please email me. Today we run the video of Clive Furness from our MarketsWiki Education Series in London. We owe Clive an apology as we had hoped to have him play his guitar and reprise the song he sang in Chicago for us at our “Exploring Financial Technology” series a…

John Lothian Newsletter: Prosecutors Suspect Repeat Offenses on Wall Street; Cargill Makes Ex-Jefferies Hire to Start Metals Trading; Bats Chi-X Europe eyes auction play Standard

First Read SEC Warned Before About Early Release Weak Spot Scott Patterson and Ryan Tracy – MoneyBeat – WSJ Securities and Exchange Commission officials were tipped off earlier this year that some traders could be getting regulatory filings shortly before they’re published on the agency’s website, according to people familiar with the discussions. jlne.ws/1rUw97I ***** I once earned some CTA execution business by refreshing my browser repeatedly on the hour to get a trading signal published on the Internet on the hour rather than wait for the browser to automatically refresh itself. My trade executions were a tick better than…

John Lothian Newsletter: SEC probing private equity performance figures; Fast Traders Are Getting Data From SEC Seconds Early; Bond trading platforms raise stakes Standard

First Read Deutsche Boerse Looking Onward and Outward By Jim Kharouf Deutsche Boerse’s plans go well beyond clearing, IT and trading. Here’s a look at the exchange, following a 2-day informational meeting with members of the Deutsche Boerse team in Frankfurt last week. Think big. Deutsche Boerse, and its subsidiaries Eurex, Clearstream and Eurex Clearing and its market data and services division (which together represent 93 percent of its revenues) are looking for new and innovative ways to drive growth in the new global regulatory structure. In other words, this isn’t just about trading volume anymore. In Deutsche Boerse’s view,…

John Lothian Newsletter: Ex-UBS Banker Kengeter to Become New Deutsche Boerse CEO; CME eyes Korea Exchange stake; Intraday auction to launch on LSE in H2 2015 Standard

First Read Bits & Pieces By John J. Lothian Allan Schoenberg posted to Facebook today that he is starting a new job at Bloomberg. The former CME communications star left CME’s London office for a job with TIAA-CREF, which did not work out. Congratulations on the new gig, which I hope to hear more about. Eurex‘s Andreas Preuss had his contract renewed until 2018. Trading Technologies has a event today with Eris Exchange. There is still room. Here are the details: Tech Tap Live – Trading Swap Futures Through TT Date/Time: Tuesday October 28, 2014 from 4:00 to 6:30 PM…

John Lothian Newsletter: Hong Kong-Shanghai bourse venture delayed; SEC Rejects Non-Transparent ETFs in Setback for Industry; Regulatory ‘typhoon’ on course for Europe Standard

First Read The Puzzling Behavior of the Nervous Co-Worker Jon Matte Today, with about a half hour to go until it was time to share the newsletter with John, Jim and Doug, John popped up on my chat screen. “ETA on newsletter?” Well, that’s odd, I thought… he never asks me this question. Doug showed up shortly after. Hey, how’s it going! …o…kay… When Jim ALSO popped up in chat to ask if I were alive and what I was doing instead of working, that was when I remembered that Norway changes their clocks back to “standard” time a week…

John Lothian Newsletter: TMX to Change Equity Exchange Rules to Slow Speed Traders; Shanghai exchange ready for options rollout; ‘Humongous’ Treasury Future Surge Suggests Math Error Standard

First Read What is your Super Bowl Commercial? By John J. Lothian As I was travelling across Europe and heard the Chicago Bears had lost another (American) football game at home, this time to the Miami Dolphins, I started to think about the Super Bowl. No, the Bears will not be in the Super Bowl this year. Yes the only thing I have to look forward to is this year’s crop of humorous or emotionally moving Super Bowl television commercials. And that got me thinking. What if we had a contest in this industry for the best Super Bowl commercial?…

John Lothian Newsletter: U.S. stock options markets agree to need for trading halts on big moves; SEC plans to deny proposals for non-transparent ETFs; More derivatives launches on the way from Eurex Standard

First Read The Boys Are Back In Town The boys are back in town. Jim Kharouf, Doug Ashburn and I returned to Chicago yesterday from our tour of Europe, while Patrick Lothian returned last week after our successful MarketsWiki World of Opportunity Education event in London. A big thanks to our sponsors for the events, Premiere Sponsor CME Group and Contributing Sponsor Turquoise. We could not have pulled off the events at the CME Group’s offices at the London Stock Exchange without their help. A big thanks too to all our London speakers. We had some great performances. The last…

John Lothian Newsletter: BGC launches hostile $675m offer for rival GFI; Bats Plans to Expand Stock Exchange Into Turkey; Fed spotted JPMorgan ‘Whale’ risks years before scandal Standard

First Read Michael Gorham, professor and director, Illinois Institute of Technology – How to Regulate When You Don’t Really Understand the Industry JohnLothianNews.com “There’s a lot of problems out there; there’s global warming, there’s the whole Ukraine thing…and then there’s the issue of getting better regulators.” Michael Gorham, professor and director of IIT Center for Financial Markets at the Illinois Institute of Technology, discusses the regulatory environment in the financial markets. Gorham explains problems regulators have in the industry today and why there are still many things in the industry that the regulators do not understand, such as the issue…