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Author Archives: Spencer Doar

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Graduate of University of Minnesota School of Journalism and Mass Communication

JLN Options: Clearing up the differences in equity option markets; The Market’s Dreaded ‘Quadruple Witching’ Is More Like 3 Witches and a Little Lady; CBOE VIX’s Drop Below India Fear Gauge Signals Rally to Extend Standard

Observations & Insight Boca’s Last Bits As the final day of the FIA Boca Conference came to an end, several themes have emerged from the event. The first is the lawyers have taken over the exchange leader panels. Gone are the days when CEOs could banter about new possibilities, replaced by boilerplate disclaimers read word for word on stage. Among the exchanges not talking are Deutsche Boerse, London Stock Exchange, Nasdaq, BATS and ISE. In a word – boring. But there is significant movement in technology solutions. As one attendee put it, the downpour of rain, which is regulation, is…

JLN Financials: EU rejects Mifid II trading reforms; Global Government Debt Is Actually Triple What We Thought, Thanks to Pensions; The blockchain in finance – Hype springs eternal Standard

First Impressions Boca Bits & Pieces JLN Staff Happy St. Patrick’s Day, or as it is called during the FIA Boca conference, Happy Pat Kenny CQG Green Shirt Day. Pat Kenny, the most interesting man in the world who is not being sent to Mars, has a tradition of giving out green logoed shirts to key industry CEO’s during the FIA Florida conference. The tradition dates back to Kenny’s days with PATS. It is often said that St. Patrick’s Day is amateur day for drinking. If the conference has been any indication, many amateurs have been getting some pretty good…

JLN Options: Global Volatility Summit sees hedge funds debate the price of fear; How Will NASDAQ’s Equity Option Volumes Be Affected By The ISE Acquisition?; Options market flips to bet on stronger euro into April Standard

Observations & Insight Boca Bits & Pieces JLN Staff Happy St. Patrick’s Day, or as it is called during the FIA Boca conference, Happy Pat Kenny CQG Green Shirt Day. Pat Kenny, the most interesting man in the world who is not being sent to Mars, has a tradition of giving out green logoed shirts to key industry CEO’s during the FIA Florida conference. The tradition dates back to Kenny’s days with PATS. It is often said that St. Patrick’s Day is amateur day for drinking. If the conference has been any indication, many amateurs have been getting some pretty…

JLN Financials: Fed Keeps Interest Rates Steady but Affirms Plan to Pursue Increase; Banks face slump in trading revenue as ‘bad’ volatility bites; Bankers fear loss of one-quarter of business to fintech firms Standard

First Impressions Boca Bits & Pieces – Tuesday If there are two trends that continue to re-emerge each FIA conference, they are that regulation is STILL the number one challenge for the industry, and technology solutions continue to address many of those challenges in, um, bits and pieces. Yesterday’s roundtable discussion from the FIA revealed as much in its recent survey of 800 members, who have collectively called for finality on the rulemaking – now in year number eight, depending on how you count it. Along with the regulatory fatigue, the FIA and member firms continue to worry about capital…

JLN Options: Equity options market fears higher costs; London Stock Exchange, Deutsche Boerse Agree on Merger; Exchange merger set to raise temperatures in Florida Standard

Observations & Insight Boca Bits & Pieces – Tuesday If there are two trends that continue to re-emerge each FIA conference, they are that regulation is STILL the number one challenge for the industry, and technology solutions continue to address many of those challenges in, um, bits and pieces. Yesterday’s roundtable discussion from the FIA revealed as much in its recent survey of 800 members, who have collectively called for finality on the rulemaking – now in year number eight, depending on how you count it. Along with the regulatory fatigue, the FIA and member firms continue to worry about…

JLN Financials: Report finds ‘no evidence’ of banks manipulating risk models; BOJ Move Backfires as 0.001% Deposits Lure Cash of Fund Managers; U.S. banks make cool technology, realize it can be sold Standard

First Impressions Let’s Pause a Moment: Keith Ross Talks Dark Pool Rules and IEXJohnLothianNews.com The addition of high speeds and multiple execution venues has altered the equity market structure in recent years. Now, the SEC is weighing in with newly proposed rules on dark pools. Meanwhile, IEX, which rose to fame with Michael Lewis’ “Flash Boys”, is trying to move from dark pool to full-fledged exchange. Keith Ross of PDQ ATS says transparency is a good thing, and a market pause has its benefits in alternate venues, but as an exchange, could create chaos. Watch the video » Quote of…

JLN Options: Perhaps Too Quiet: Traders Fear Calm as Volatility Bets Jump; Nasdaq’s $1.1 bln ISE buy comes with hidden gem; MKM – Volatility On The Verge? Standard

Lead Stories Perhaps Too Quiet: Traders Fear Calm as Volatility Bets Jump Joseph Ciolli – Bloomberg Even as a gauge of investor anxiety hovers close to the lowest level of 2016, the calm washing over the U.S. stock market has a suspicious feel to some traders. The concern is visible in the record number of shares outstanding in an exchange-traded note betting on an increase in the Chicago Board Options Exchange Volatility Index. Share counts, which rise along with demand for ETFs, sit around the highest levels of the year for two other long-VIX securities, according to data compiled by…

JLN Options: China Burns Hedge Funds as $562 Million Yuan Bet Turns Worthless; An acquisitive Nasdaq; There’s Only One Buyer Keeping S&P 500’s Bull Market Alive Standard

Observations & Insight Let’s Pause a Moment: Keith Ross Talks Dark Pool Rules and IEXJohnLothianNews.com The addition of high speeds and multiple execution venues has altered the equity market structure in recent years. Now, the SEC is weighing in with newly proposed rules on dark pools. Meanwhile, IEX, which rose to fame with Michael Lewis’ “Flash Boys”, is trying to move from dark pool to full-fledged exchange. Keith Ross of PDQ ATS says transparency is a good thing, and a market pause has its benefits in alternate venues, but as an exchange, could create chaos. Watch the video » Lead…

JLN Options: Nasdaq Wants A Magic Shoebox; US Listed Options Volumes Jump Year over Year in February as Stock Market Swings Persist; Tech Bias Has Nasdaq VIX at 6-Month High Over S&P Fear Gauge Standard

Lead Stories Nasdaq Wants A Magic Shoebox Michael P Regan – Bloomberg There are three main reasons behind Nasdaq’s $1.1 billion purchase of the International Securities Exchange, but only one of them is likely to cause widespread gossip and speculation among the market-structure debate club that’s been meeting nonstop since “Flash Boys” was published. It also points to a broader problem in the stock-trading world. First, the purchase will help Nasdaq firmly leapfrog over CBOE Holdings as the biggest owner of U.S. options exchanges by volume. Second, it will also allow Nasdaq to double its stake in the Options Clearing…