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Author Archives: Sarah Rudolph

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

Interview: CBOE’s John Hiatt on the exchange’s new futures and options on the CBOE Gold ETF VIX Standard

CBOE Holdings recently announced plans to launch futures and options on the CBOE Gold ETF Volatility Index (GVZ). The CBOE Gold ETF Volatility Index (“Gold VIX”) is calculated using the same CBOE VIX methodology applied to options on the SPDR Gold Trust (Ticker – GLD). The Gold VIX is an estimate of the expected 30-day volatility of GLD, calculated using real-time bid/ask quotes of GLD options that are listed on CBOE. Pending regulatory approval, CBOE Futures Exchange expects to begin trading the futures on March 25, and the options a few weeks later. JLN Options editor Sarah Rudolph spoke with…

Interview: Kevin Cook on teaching “Probability for Traders” Standard

Kevin Cook is OptionsProfits Contributor at TheStreet, and was previously Education Manager and Retail Instructor at the Options News Network (ONN.tv) He will be teaching a course entitled “Probability for traders: Survival training for speculators”, at the Northwestern University’s School of Continuing Studies in Chicago, beginning March 1st. He spoke with Sarah Rudolph about what the course offers traders and about the lessons he has learned in the industry. Q: What instruments does the course involve? I see that forex and stocks are mentioned, but can it be applied to options as well? A: The course really applies to all…

Five Minutes with Patty Kevin-Schuler Standard

Patty Kevin-Schuler was recently named the new vice president of sales and marketing at the Boston Options Exchange (BOX). She spoke with Sarah Rudolph about her new role there as well as her role as president of Security Traders Association of Chicago (STAC). Q: Congratulations on your new position. Can you tell me a little about your background? You were most recently director of business development for CBOE and CBOE Stock Exchange. What about before that? Where did you get your start? A: I started in 1986 working for a broker-dealer on the CBOE floor. I worked as a runner…

Five Minutes with Bob Fitzsimmons Standard

Robert Fitzsimmons was chief executive officer of RedSky Financial before it was acquired by ITG in 2007. Before that he was CEO of NQLX, a joint venture between the NASDAQ Stock Market and Euronext.liffe, and held senior positions at Nomura Securities International and Kidder Peabody. He sat down with Sarah Rudolph to talk about his latest ventures, and some of his earliest adventures, in the trading industry. Sarah Rudolph: I first met you when you headed up NQLX, [an exchange formed to trade single stock futures.] NQLX made a valiant effort, but things did not quite work out. Bob Fitzsimmons:…

An Interview with Amy Farnstrom and Paul Finnegan, co-CEOs of NYSE Arca Options Standard

An Interview with Amy Farnstrom and Paul Finnegan, co-CEOs of NYSE Arca Options Amy Farnstrom and Paul Finnegan were appointed co-CEOs of NYSE Arca Options, one of NYSE Euronext’s two options trading platforms, in December 2010. They took over at the departure of Ed Boyle, who moved to Getco in December. They spoke over the phone with Sarah Rudolph, JLN Options editor. Q: How will you divide your responsibilities as co-CEOs between you? Amy: Each of us has some distinct strengths that complement each other. Paul is shouldering the majority of client contact while my strengths lie more in the…

Interview: Russell Rhoads, CBOE Options Institute Standard

An Interview with Russell Rhoads, CFA , instructor at the CBOE Options Institute Options education is one of the biggest drivers of increased options trading volumes in the U.S., and the CBOE Options Institute is one of the leaders in that arena. JLN Options editor Sarah Rudolph spoke with Russell Rhoads about how the Institute’s program for college and graduate school students works and what they are learning. Q: You are in charge of the CBOE Options Institute’s college program. Can you tell us a little about how that program works? A: The idea for the College Day program came…

Interview: BOX CEO Tony McCormick A Year Later Standard

BOX CEO Tony McCormick A Year Later JLN Options Newsletter last spoke with Tony McCormick, CEO of the Boston Options Exchange (BOX), in November 2009. He discussed some of the changes the exchange was making, including abandoning the maker-taker model in favor of a price-time model that rewards the liquidity taker. Now, a year later, he spoke with Sarah Rudolph about the results of those changes and what will be happening with BOX and the options industry in 2011. Q: We last spoke about a year ago, although more recently JLN Options talked with John Goode, BOX’s CIO, about some…

Interview: Jeromee Johnson, VP of market development at BATS, on BATS Options’s new directed order proposal Standard

While the big news today is that BATS Global Markets is in exclusive talks to acquire Chi-X Europe, BATS’s subsidiary BATS Options Exchange recently filed a proposal with the Securities Exchange Commission to apply a new “directed order” model at that exchange. A Wall Street Journal article said: “The proposal would not see all options prices on BATS’s market quoted in half-cent increments. Rather, traders offering to improve prices for incoming options orders would be able to offer a “midpoint price,” which could come in at half a cent depending on the size of the spread between the bid and…

Interview: Evolving Technology Enables Transaction Cost Analysis in Options Market Standard

Evolving Technology Enables Transaction Cost Analysis in Options MarketAs trading technology evolves, it enables traders to capture holistic and detailed data about the costs related to their trading activity. Ubiquitous in the equity markets and moving into the options space, Transaction Cost Analysis (TCA) is the practice of viewing a trade from inception to execution and analyzing the market conditions before and after the order is placed to collect transaction costs and trade efficiencies. MarketsWiki’s Jessica Titlebaum sat down with LiveVol’s Catherine Clay and Kevin Nichols to discuss this new concept and how it could potentially revolutionize the options markets….