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Author Archives: Sarah Rudolph

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

Bats targets NYSE and Nasdaq end-of-day volume with new offering; ICE turns to atomic clock for time-stamping trades; trueEX files lawsuit against Markit Standard

First Read Options Industry Conference Preview Part 2: OCC’s Craig Donohue on Gina McFadden and Changes at the Top of OCC JohnLothianNews.com As the 35th Options Industry Conference gets underway, OCC Chairman and CEO Craig Donohue spoke with John Lothian News about everything from the industry’s first woman to be awarded the Joseph Sullivan Award to executive changes at the clearinghouse. Read the rest and watch the video » ++++ Anonymous warns world to ‘prepare’ for World War 3 Chris Perez – NY Post The infamous hacktivist group Anonymous has released a chilling new video — urging people across the…

Traders Are Fleeing the Options Market; Wall Street frets as capital markets trading activity trails off; There’s a new front in the brutal battle between America’s stock exchanges Standard

First Read Sad News The father of Doug Ashburn, our former colleague, passed away yesterday morning from a sudden heart attack. Doug is now at T3 Custom, a custom publishing firm. Any well wishes or condolences can be sent to him at dashburn@t3custom.com. ***** On behalf of the entire JLN team, our condolences to Doug and Nancy Ashburn and their families on the passing of Doug’s father. We will keep them in our thoughts and prayers as they deal with this sad time. ++++ Options Industry Conference Preview Part 1: Is Regulation Damaging the Options Space? JohnLothianNews.com The cost of…

‘50 Cent’ trading mystery focuses on $20bn London fund; Traders Vote Macron as Le Pen Vows to Wipe the Smiles Off Their Faces; Trading volatility? Good luck catching that sharp knife Standard

Observations & Insight 21 questions about 50 cent Joe Rennison and Christian Pfrang – Financial Times A corner of Wall Street has been gripped by the unknown identity of a trader that has been buying up Vix call options priced at 50 cents each, swelling to account for nearly 10 per cent of the listed market. The FT has now reported that bankers with knowledge of the trades say the so-called “50 Cent” – a reference to the American rapper known for his breakthrough album Get Rich or Die Tryin’ – is the well-heeled, London fund called Ruffer, which even…

Options Signal Pragmatism May Trump ‘America First’; Global volatility At Odds As US VIX Nears A Century Old Low; FinTech firms reduce trading time to 120 nanoseconds Standard

Observations & Insight FinTech Exchange: Clay on Innovating During CBOE’s “Middle Age” JohnLothianNews.com Albert Einstein published his theory of general relativity when he was 36. Vincent van Gogh painted Starry Night when he was 36, and Mozart wrote 626 works before dying one month before turning 36. The CBOE turned 44 in April. In that context, Catherine Clay, CBOE’s vice president of integration strategy and operations, addressed how a company that has reached middle age continues to reinvent itself. Read the rest and watch the video » Lead Stories Options Signal Pragmatism May Trump ‘America First’ Myron Scholes and Ash…

GreenKey CEO Focused on Using the Cloud for Next-Gen Voice Broking Data Standard

For years people have been predicting the demise of voice broking, but to a great extent what has happened is smaller voice broker desks are doing the same amount of work. This calls for more efficiency and a creative use of technology, according to Nader Shwayhat, the CEO of Green Key Technologies. Since the company began, GreenKey has focused on combining voice and data, and in 2017 they plan to start extracting data within voice conversations and integrating it into customers’ screens. For the most part, Shwayhat said, only about 10 percent of the information from voice conversations ever makes…

Paxos using blockchain to fix problems in capital intensive businesses Standard

Charles Cascarilla, CEO of the fintech company Paxos, says the current way of dealing with back and middle office post-trade processes is too manpower-intensive and is hindering businesses. He believes blockchain is the solution to some of the problems affecting capital-intensive businesses. Since the financial crisis, exchanges have eliminated 10 percent of costs out of the front office but only five percent out of the back and middle office, because firms are using old technology, Cascarilla said. Enter blockchain, a distributed ledger that lets everyone use a shared books and records system, getting rid of the need for different firms…

JLN Exchange Leader Series 2017: Romnesh Lamba – Finding Opportunities in HKEx’s Relationship with China Standard

For Hong Kong Exchanges and Clearing (HKEx), the biggest initiative in 2016 was the launch of Hong Kong-Shenzhen Connect, a trading link designed to give foreign investors greater access to shares listed on the Chinese mainland.  Hong Kong-Shenzhen also joined with the Shanghai-Hong Kong Stock Connect, so there are now “four pipes – two going Northbound, with international investors trading Chinese equities, and two more coming Southbound,” Romnesh Lamba, co-head of market development at HKEx, told John Lothian News at FIA Boca 2017. “Volumes associated with that program have really picked up,” Lamba said. “They are almost triple the levels…

JLN Exchange Leader Series 2017: SGX’s Syn Says Trade Barriers Mean Opportunities for Offshore Exchanges Standard

Singapore Exchange’s Michael Syn says that when economic barriers to trade come down, offshore jurisdictions like SGX can benefit by showing their worth for hedging exposure. The “big three” Asian markets – India, Japan and China – taken together account for about 25 percent of world GDP and 40 percent of world population. But each is regulated very differently and therefore the elements of risk in those countries will not be proxies for each other, Syn said. Each will behave in a distinct way. This makes it difficult for investors to hedge risk among them, which is where SGX comes…

Attention To Detail: High Performance Requires Hard Work – Rolf Andersson, Goldman Sachs Standard

“I can’t stress enough the importance of being really good at software in one form or another, whether it’s managing, running projects or sponsoring projects.” Rolf Andersson of Goldman Sachs is a software architect, and he says that software is taking over the world. But all the competition out there is making it much harder to innovate than it was a number of years ago. You have to have a good idea, plus the stamina and expertise and experience. And a good team. Although there are a number of factors one has to take into account when designing software, such…