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Author Archives: Sarah Rudolph

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

Reg AT Stirs Concerns Ahead of CFTC TAC Meeting Standard

The CFTC’s Technology Advisory Committee (TAC) was scheduled to meet on Tuesday to discuss three issues important to the trading industry: 1) the CFTC’s proposed Regulation Automated Trading (Reg AT); 2) swap data standardization and harmonization; and 3) the potential of blockchain and distributed ledger technology to the derivatives market. Unfortunately, winter storm Jonas, aka Snowzilla, hit Washington DC with a record two feet of snow, and the meeting has been postponed. In the weeks leading up to the meeting, there has been a steady stream of stories about blockchain, which is seen as a bit “sexier” than a 500-page…

STAC Tackles Volatility, Social Media and Blockchain Standard

STAC Conference

The Security Traders Association of Chicago holds its Midwinter Meeting this week at the Hilton, bringing in industry participants from a variety of warmer climes than Chicago. Day one covered such seemingly disparate issues as volatility and volatility products, social media for traders, and Bitcoin/Blockchain technology.   Some highlights from the panel called “Volatility: Shaken Up with New Products and Less Risk”, moderated by the CBOE’s Matt Moran, included: If you look at skew worldwide, it is highest in the U.S.  One reason for this, according to Joe Aiken from Malachite Capital Management, is that most S&P option activity is…

WILD Symposium Explores Opportunities and Challenges in a Changed Industry Standard

The Women In Listed Derivatives (WILD) annual symposium last week at the Chicago Federal Reserve Bank addressed a pressing question and one that men face as well. Now that floor trading is mostly gone and that route into the business closed, what can young women do to get into the industry and what can the veteran professionals do to help them? This fourth year for the event was a chance for women in the derivatives industry to be among a sea of women, rather than the usual sea of men we find at most industry gatherings. WILD aims to help…

African Exchanges Emerge at SFOA Conference in Switzerland Standard

Emerging markets face many economic challenges, not the least of which is setting up exchanges in order to facilitate price discovery and to help farmers and others hedge their products. But with the help of mobile technology and a spirit of cooperation among regions, some exchanges in Africa are getting started for the first time and attempting to create alliances that will help bring price transparency and hedging to the region. Leaders of these exchanges spoke about their plans at a panel at the SFOA Conference in Geneva, Switzerland. Africa has enormous potential for growth, with more than 30 out…

JLN Financials: EU watchdog unveils new rules for bloc’s securities markets, MFA Updates Equity Market Structure Recommendations, Urges Regulators to Conduct Standard

First Impressions Joseph Niciforo, HC Technologies – Profiles in Risk: Vision and Discipline JohnLothianNews.com “If you don’t have disciplined risk management, you’re not going to be in the game.” After earning a law degree in 1988, Joe Niciforo turned down a six-figure offer to join a big law firm, opting instead for a salary at 30 percent of that number, to work as a trader for the legendary Paul Tudor Jones II. He would eventually become a partner and managing director at Tudor Investment Corp, but his trading career almost got cut short once when he violated his own risk…

JLN Options Newsletter September 28, 2015 Standard

Observations & Insight Bits & Pieces By John J. Lothian If you are not watching our MarketsWiki Education Summer Intern Education series videos, you are missing a lot. Today we have Joe Niciforo, who with the help of Paul Tudor Jones, is looking for the next generation of portfolio managers. We will be continuing to release videos from this summer’s series. We have one more video from the New York event, Haim Bodek. The series will be bolstered by videos from our London events to be conducted in a couple of weeks. We still have some room for the London…

Lively “Crossfire” Panel of Exchange Leaders Opens SFOA Burgenstock 2015 Standard

The 2015 Burgenstock SFOA conference in Geneva kicked off with a lively discussion on “Crossfire,” the well known panel hosted for many years by Patrick Young, the editor of Exchange Invest News. The panelists were Phupinder Gill, CEO of CME Group, Chitra Ramkrishna, CEO of the National Stock Exchange of India, David Peniket, president and COO of ICE Futures Europe, Magnus Billing, the president of Nasdaq, and Christian Katz, the former CEO of Six Swiss Exchange and former president of FESE. The panel was at odds over the horizontal versus the vertical clearing model.  Nasdaq strongly believes in the horizontal…

Speaking Engagement: ISE’s Gary Katz Speaks Out Against IRA Options Rule Standard

Gary Katz, president and CEO of the International Securities Exchange, testified before a U.S. Department of Labor hearing Thursday in the hope of persuading the agency to modify a proposed rule change that could take away investors’ ability to use listed options in their IRA accounts. Katz testified on behalf of the U.S. Securities Markets Coalition, made up of the U.S. options exchanges and the Options Clearing Corporation (OCC). They oppose the DOL’s “Conflict of Interest Rule” – or at least, one particular aspect of it. The proposed rule could result in the definition of a “fiduciary” being expanded to…

Chicago Intern Education Series Day 3 Wrap-Up Standard

For our final day of the 2015 MarketsWiki Intern Education Series in Chicago, hosted by Trading Technologies, our special guest was the city’s mayor, Rahm Emanuel, who told the audience of summer interns that Chicago is the No. 1 destination for young people looking to start their careers right after graduating from college. Chicago is a great destination for several reasons, he said, including that it has the most diverse economy of any U.S. city., incorporating industries such as healthcare, transportation, professional services, and of course the financial sector and risk management in particular. “No single sector drives more than…