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Author Archives: Spencer Doar

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Graduate of University of Minnesota School of Journalism and Mass Communication

D is for Data: FinTech Exchange Standard

The sold-out FinTech Exchange conference, hosted by Barchart, was largely about data – what to do with data, how exchanges are capturing new data and how to trade it. That, on its surface, isn’t particularly new. But the infrastructure to capture all kinds of data is now developed. The CME Group’s Julie Armstrong Menacho colorfully outlined how the exchange has migrated all of its historical data onto the cloud, giving customers greater access to it, along with a growing list of partners who provide alternative data sets like satellite images of oil storage facilities or social media sentiment. CBOE’s Catherine…

One hundred days of Donald Trump have left investors sanguine; Vix ‘fear gauge’ closes at 3-year low; Brexit Overshadows Election Boost for Pound as Funds Skeptical Standard

Observations & Insight D is for Data Jim Kharouf, John Lothian and Spencer Doar – JLN The sold-out FinTech Exchange conference, hosted by Barchart, was largely about data – what to do with data, how exchanges are capturing new data and how to trade it. That, on its surface, isn’t particularly new. But the infrastructure to capture all kinds of data is now developed. The CME Group’s Julie Armstrong Menacho colorfully outlined how the exchange has migrated all of its historical data onto the cloud, giving customers greater access to it, along with a growing list of partners who provide…

The market’s risky bet on stability; Bets on a stock market rally using options just hit record levels; Euro Is Suddenly Everyone’s Favorite After First Round of French Election Standard

Observations & Insight Did you know? Jim Kharouf and Spencer Doar – JLN Moscow, OneChicago, MexDer, Fear Gauge and Trump Street with an Irish twist. No, they are not connected. One of the interesting things about updating annual volume figures on our MarketsWiki site is the snapshot of how a particular exchange has been doing over a number of years. The FIA Annual Volume Survey shows a couple of unusual suspects in the top 5 in 2016 with the National Stock Exchange of India coming in second and the Moscow Exchange at number four in terms of derivatives volumes. At…

Virtu and Citadel Securities go head to head in HFT; Multi-asset services key for buy-side execution; Why do asset prices move? Standard

Observations & Insight Things I Learned About Finance Bros by (Briefly) Dating a Finance Bro Tara Isabella Burton – The New Yorker It’s not that they’re actually ever mad at the valet. They just want him to learn. /goo.gl/d7Tmpa ****SD: Good for your daily dose of laughs (and some cringes). “They will take you to very trendy experimental-cocktail bars that they read about on Gothamist. They will encourage you to try something with twenty ingredients. They will order an Old Fashioned. Every. Single. Time.” Lead Stories Virtu and Citadel Securities go head to head in HFT Philip Stafford and Nicole…

Implementation of SA-CCR Important For Liquid and Orderly Listed Options Markets; Seventeen years after 5,000, Nasdaq tops 6,000; What Markets Should Conclude From France’s Election Standard

Observations & Insight Other VIXes Spencer Doar – JLN Of all the CBOE’s products, none gets media attention like the VIX. But CBOE has plenty of other VIX products, ranging from the BPVIX (CBOE/CME FX British Pound Volatility Index) to the GVZ (CBOE Gold ETF Volatility Index). The VIX plummeted yesterday to the 10 handle after the results of the first round of the French election were interpreted as positive (VIX is around 10.6 as of this writing). The media will sometimes give markets the gloss over treatment, look at the VIX and only the VIX, and declare “where’s the…

Anxiety Dissipates After First Ballot; Expectations for euro-dollar, US stock volatility plummet; The Downside of Managing Downside Risk Standard

Observations & Insight Last week’s notables A lot happened last week in the options space. If anybody didn’t follow the week’s developments, here’s a little recap. Big trends are continuing in the market making world. I wouldn’t say they are good. First, Interactive Brokers revealed in its earnings that the firm’s market making operations lost $22 million in Q1. (Remember that the company revealed a bit ago that they were shuttering their options market making operations — some of this loss is restructuring costs.) Second, the KCG/Virtu deal was agreed upon for $1.4 billion. It’s getting hard out there and…

Here’s What Analysts Are Saying About the First Round of French Elections; Charts Show Traders Writing Down Chances of a Le Pen Presidency; OCC seeks leverage ratio relief as liquidity shrinks Standard

First Read The future of futures markets: Exchanges looking to fail fast By Jim Kharouf, JLN Andreas Preuss, deputy CEO, Deutsche Boerse had a show stopper. At the IOMA: World Federation Exchanges conference in Frankfurt on Friday, he said his exchange will have to speed up its business processes exponentially in the next two to three years in order to thrive. Implementing products and services from beginning to release will go from today’s 18 months to 4 days. Yes, you read that correctly. And no, no one in the audience was laughing. “The old way was seven months of iterations…

US Options Volume Gains Momentum in Q1 2017; Borussia Dortmund Bus Attacker Hoped to Profit From Share Slump; Options market signals the need for Europe to change Standard

Observations & Insight UChicago Midwest Trading Competition: The Next Generation Gets a Taste JohnLothianNews.com On April 8, the University of Chicago hosted its fifth iteration of the Midwest Trading Competition, drawing 102 students from some of the most prestigious colleges and universities across the United States and Canada. The students got a chance to test their algorithms using Trading Technologies’ TT Platform in a variety of simulations involving pairs trading and options market-making. But the event was more than just a fun way for smart kids to strut their stuff using real-world technology and market data. It was a rare…

HKEX and LME Announce New LME Chief Executive and Leadership Structure; Deutsche Bank Is First Bank Busted for Breaking Volcker Rule; Deutsche Boerse Boss Admits Mistakes in Failed LSE Deal Standard

First Read Bits & Pieces By John J. Lothian David Setters is turning 60 this weekend and of course some friends are gathering to celebrate this happy occasion. What they are also doing is giving gifts of donations to support MND research, the disease that is afflicting David. Would you help David celebrate birthday with a gift to the MND Association? David and his friends have raised £47,725.50 to date through various activities and fundraisers. How about we help David get that amount to £60K? Congratulations to Matt Chamberlain on being named CEO of the London Metal Exchange. I can…