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Author Archives: Spencer Doar

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Graduate of University of Minnesota School of Journalism and Mass Communication

JLN Financials: The problem with negative interest rates; The Sub-Zero Club: Getting Used to the Upside-Down World Economy; Treasury futures fly high as bond market fragments Standard

First Impressions 2016 Exchange CEO Series: CurveGlobal’s Michael Davie Looking For New Twist On Interest Rates JohnLothianNews.com New exchanges are looking to disrupt the status quo or add value to the marketplace. And CurveGlobal, a joint venture between the London Stock Exchange Group, CBOE and several global banks, is planning to do both when it launches 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 venture is focused on continuing its work to pull the exchange and its customer base…

JLN Options: Asia volatility traders in liquidity hunt; Low Vix signals robust appetite for equities and oil; No ECB shock to the euro this week Standard

Observations & Insight The Non-Linear Path: Malay Bits & Pieces Doug Ashburn in Kuala Lumpur, JLN The Grand Hyatt Kuala Lumpur, the chosen venue for this year’s IOMA, the WFE‘s clearing and derivatives conference, is a lovely hotel in a vibrant city. The lobby, which sits atop the 40-story building and looks out upon the iconic Petronas Twin Towers, is visually appealing but logistically challenging. In order to get to one’s room, one must ride to the top floor, change elevators, and ride down. Getting to the conference floor requires a two-story escalator ride after the up-down process. This non-linear…

JLN Financials: Fixed-Income Investors Have 99 Ways to Trade and One Big Problem; G-20 Warns Against Overreliance on Monetary Policy; A Tough Year for Banking Takes Shape Standard

First Impressions What is Blockchain? Jeff Bergstrom – JLN What Blockchain Is and Is Not One of the most frequent topics we are reading and hearing about these days is blockchain technology. The articles run the gamut on how it will affect the financial industry, but very few articles explore what it really is and is not, and how it works. To many, blockchain is a magic box where things are recorded or registered, and that is supposed to help…maybe…somehow, something in the transaction process. The first step is distinguishing between Bitcoin and blockchain. Bitcoin is a cryptocurrency that uses…

JLN Options: Volatility – In the Eye of the Beholder; Risk On – Bond Market Volatility Gauge Drops; Volatility Will Drown Investors – Artemis Standard

Observations & Insight What is Blockchain? Jeff Bergstrom – JLN What Blockchain Is and Is Not One of the most frequent topics we are reading and hearing about these days is blockchain technology. The articles run the gamut on how it will affect the financial industry, but very few articles explore what it really is and is not, and how it works. To many, blockchain is a magic box where things are recorded or registered, and that is supposed to help…maybe…somehow, something in the transaction process. The first step is distinguishing between Bitcoin and blockchain. Bitcoin is a cryptocurrency that…

JLN Managed Futures: Managed Futures March Performance; CTA strategies finish first quarter in positive territory despite March dip; Computer trading gains help Man Group weather market storm Standard

Observations/Commentary 2016 Exchange CEO Series: Nasdaq Futures’ Magnus Haglind Bullish On Energies JohnLothianNews.com 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, CEO Magnus Haglind told JLN that the exchange is thinking about offering Brent, WTI and other energy futures. Beyond that, Haglind said it plans to introduce options as well on those products. Watch the…

JLN Financials: Sovereign-Debt Conundrum Sets Up EU for Banking-Union Stalemate; Credit Managers Most Pessimistic on Defaults Since 2009; One Bright Spot for Bank Trading – Rates Standard

First Impressions Direct Match’s Jim Greco and William O’Brien Talk Treasuries – Traded Electronically Sarah Rudolph – JLN Direct Match is a FINRA-registered broker dealer that recently announced plans to offer an all-to-all electronic trading platform for US Treasuries later this year – the first of its kind. JLN spoke with Jim Greco, the company’s CEO and co-founder, and William O’Brien, its new executive chairman, about the why and the how of the new platform. Q: How did the idea of founding Direct Match come about? Jim: I’ve been involved in the markets for a long time, on different sides….

JLN Options: CME calls time on New York open outcry options floor; Euro Swaptions Aligned With Peripheral Spreads Offer Protection; Volatility Update – Sizing up the Small Caps Standard

Observations & Insight Hong Kong Connect(ions) Doug Ashburn in Hong Kong – JLN Hong Kong is all about the connections to China, with Hong Kong playing the gatekeeper. In his opening address at this year’s FOW Derivatives World Asia conference, HKEx CEO Charles Li punctuated this point. 2015, of course, was the year of the Hong Kong-Shanghai Stock Connect, the access point for offshore trading in China shares. Though it was, shall we say, a rough year in China’s stock market, the region is still poised for long term growth, and HKEx is at the center. “If 2015 was the…

JLN Financials: Five Big Banks’ Living Wills Are Rejected by U.S. Regulators; Complexity, not size, is the real danger in banking; IMF Warns of Threats to Financial Stability Standard

First Impressions 2016 Exchange CEO Series: Nasdaq Futures’ Magnus Haglind Bullish On Energies JohnLothianNews.com 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, CEO Magnus Haglind told JLN that the exchange is thinking about offering Brent, WTI and other energy futures. Beyond that, Haglind said it plans to introduce options as well on those products. Watch…

JLN Options: US Listed Options Volumes Continue to Roll in a Quiet March; Building Where Trillions Trade Each Day; No reason to seek Trump odds in stock option pricing Standard

Observations & Insight BATS IPO Rates High, Investors Swinging for the Fences Doug Ashburn in Hong Kong, JLN BATS takes another swing at an IPO this week, and independent ratings agency Rapid Ratings sees solid contact. Rapid Ratings, a financial services company that uses a proprietary quantitative system to rate the financial health of corporations and financial institutions, initiated coverage on the stock operator and gave it an Financial Health Rating of 73 — Low Risk — based on its financials from last December’s S-1 filing. For reference, Rapid Ratings was kind enough to share the FHRs of of the…