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Author Archives: Sarah Rudolph

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Rudolph is managing editor of John Lothian News (JLN).

William O’Brien Standard

William O’Brien stepped down as the president of BATS Global Markets on Tuesday. He joined the company after serving as CEO of Direct Edge before it merged with BATS January 2014.  

FIA’s Walt Lukken on Reg AT and the 2016 Agenda Standard

Walt Lukken, president and CEO of the FIA, spoke with JLN about what is in store for the rest of the year at the trade organization. The FIA has been coordinating with 10 working groups on what upcoming rules about automated trading (Reg AT) should look like for the futures industry. Lukken said that the FIA believes it would be best to break Reg AT into two more manageable parts.  The first portion would focus on getting pre-trade risk controls up to snuff, and the second part would delve into the more contentious parts of Reg AT, such as definitions…

MarketsWiki Education Series in Chicago, Day Two Standard

If you want to know where technology is going and how to navigate your way through, Thursday’s MarketsWiki Education event was the place to be. Drew Shields, chief technology officer at Trading Technologies, started the second day of MarketsWiki Education World of Opportunity series by challenging another packed house of interns to resist falling in line with the status quo.  Shields knows firsthand how far hunger and initiative can get you in this industry. He’s chief technology officer at a premier technology firm and never took a course in engineering or capital markets in his life. But employers saw his…

MarketsWiki Education Hits Interns With Risks, Technology, Volunteerism, Office Space and Bricks Standard

Tuesday marked the first session of our MarketsWiki Education World of Opportunity series in Chicago. The event drew a standing room only crowd of 160 at the CME Group auditorium. The event kicked off with Rob D’Arco, CEO of Rival Systems, who hammered home the intrinsic advantage the interns have over current industry professionals, as every intern in the room is considered a digital native. Taking advantage of that intrinsic knowledge and then pairing it with a deep understanding of market structure is essential for this coming generation. He encouraged everyone to look for the chance to make something their…

A Blockchain Solution to Gold Settlement Issues Standard

Gold Bars

Amid all the talk of blockchain and its applications for the financial and trading worlds, Euroclear and ItBit have gotten together to come up with what they feel is a solution to some of the problems in the gold market, in particular the settlement of unallocated gold. The two companies are partnering to develop a blockchain-based service which lowers costs, makes delivery and payment systems more efficient, and reduces balance sheet issues. The service uses New York-based ItBit’s blockchain technology called Bankchain, which provides tracking, clearing and settlement of trades. Addressing efficiency problems in the gold markets is no easy…

Billy Assimos, the Face of Ceres Standard

Along with the hand signals and colorful jackets, Ceres Cafe, the bar/restaurant housed in the Chicago Board of Trade Building, has long been a tradition in the Chicago trading world, and it has changed along with that world. For many traders and others who work in and around the building, Ceres has been like a second home – or second office – where they could go to catch up with other traders and brag or commiserate about the day’s trading action, gossip, eat, and enjoy the generous pours that the place is famous for (along with their famed oversized fried…

Smart Money, Smart Women: What Successful Women Say About The Possibilities Standard

Women have come a long way in the financial sphere. As recently as 1989, when Ilyce Glink, the founder and president of Think Glink Media, went with her husband to a bank to apply for a mortgage, the banker they spoke with – a woman – told her there was no need for her to put her own income on the form. “Oh honey, your income doesn’t really matter. We’ll use your husband’s,” the banker said. Glink was then – and is now – a self-employed woman who bought shares of Intel and “a small company called Microsoft” in 1987. …

Direct Match’s Jim Greco and William O’Brien Talk Treasuries – Traded Electronically Standard

Source: www.vpsi.org

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. I worked for Getco and built the platform KCG Acknowledge, which was a bilateral streaming platform for trading…

ICAP’s blockchain initiative would slim down middle and back office processes Standard

Excitement about blockchain technology and debate about the potential uses for it were top of mind at last month’s FIA Boca conference, and one of the more likely possibilities for its use is to streamline post trade operations for banks and their FCMs. ICAP, the largest broker for OTC trading, just completed a successful proof of technology test case using blockchain technology and the company believes it could transform the middle and back office, cutting down dramatically on the number of processes necessary and therefore on time and cost. “Banks own large amounts of technology and spend considerable time validating…