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JLN Profile: Ralf Roth – Market Structure Matters Standard

Ralf Roth got his start in 1994 at Deutsche Bank as a junior fixed income analyst. Starting at the bottom and working his way up, Roth occupied various roles in equities and prime broking before eventually becoming the global head of equity product development. He then left to be the global head of Elektron for Thomson Reuters, followed by a stint at IHS Markit as chief technology officer for equities. He is currently CEO of Quantitative Brokers. In this John Lothian News Profile video, Roth touches on the transition to electronic trading in the late ’90s and how important micro…

JLN Profile: George Gero’s long winding road through the futures industry Standard

George Gero started out as a floor clerk on the New York Stock Exchange in 1959. He has been a witness to the growth and changes in the markets over the years, becoming a member of NYMEX, COMEX, the American Stock Exchange and PHLX later on.  In this John Lothian News Profile, Gero talks about some of the changes he has witnessed, and participated in, throughout his long history in the markets, from the birth of the West Texas Intermediate (WTI) crude oil contract on NYMEX, through decimalization and of course the technology revolution, which changed the entire culture of…

Building a Compliant Crypto Consortium Standard

Everyone who has a stake in cryptocurrency right now has one thing on the mind: regulation. The SEC and CFTC are scrambling to find a way to define and regulate cryptocurrencies. Whether you’re cheering them on, booing, or tapping your foot impatiently, the next zeitgeist for the global crypto markets will depend on how regulators resolve the current challenges surrounding digital asset trading. Enter OpenFinance Network (OFN): a digital asset trading platform for the next stage in the crypto market’s evolution. CEO Juan Hernandez sat down with John Lothian News to discuss how OFN is striving to fill the gaps…

David Silverman Commentary on February 5: We are a “master and slave to the system” Standard

I read the JLN essay about the events of February 5. I had heard many of the rumors that quickly emerged in the aftermath of the carnage and, as always the case in these types of situations, wasn’t sure what to believe. So, first, congratulations on the incisive and important reporting. It’s scary to consider how vulnerable the FCM community—and by extension, the entire industry—is to these periodic shocks; especially since the previously rare black swan sighting has become an increasingly regular occurrence. I suppose it’s possible to look at February 5 in a positive light. After all, every FCM…

EU Parliament and ECB Taking a Look At Cryptocurrencies Standard

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Last week, which admittedly was a slow financial markets news week, headlines in the cryptocurrency press announced that a new EU report told officials not to ban bitcoin. Blockchain News said the report “. . . blasts economists who criticize cryptocurrencies.”  There was no blasting. While the report prepared by an EU policy department did provide some sound bites, it was one of five reports about central bank monetary policy toward virtual currencies that the EU Parliament had requested. If the briefing papers do guide the discussions, there is no reason to expect shifts in today’s slowly evolving bank regulatory…

The LIBOR Transition Standard

LIBOR, a key benchmark for short-term lending between banks, has had its reputation sullied in the wake of rigging scandals. Now, markets are struggling to find proper replacements. SONIA, a sterling interest rate replacement, is live. In this video, CurveGlobal CEO Andy Ross talks about how futures markets are adapting to the transition and what tools are available to aid with the switch.   Produced by Mike Forrester Interview by Jim Kharouf

Making the time for readiness Standard

According to FIS’ 2018 Readiness Report, industry leaders in fund administration, banking, broking and asset management are modernizing their operating models twice as fast as the rest of their peers.  In this video from FIA IDX, FIS’ John Omahen, SVP product management, post trade derivatives, talks about not only putting out the fires that be, but making the time to improve operations. FIS has modernized its back and middle office technology offerings, and is in the somewhat unique position of baking their cake and eating it too, as they deploy their own services internally. How ready is your company to…

Cinnober looking to tap into treasury Standard

For Cinnober’s CEO Veronica Augustsson, 2017 was all about prepping for MiFID II, sticking to the company’s core services and diversifying. Cinnober implemented its clearing system and real time risk management technology at the Japan Exchange and another exchange in Singapore. It pushed into the post-trade clearing space and launched a new company called Minium. This year, Minium signed its first deal with Marex Spectron, with a goal of going live in 2019. The firm also sold an equity stake in its Irisium market surveillance company to risk management firm KRM22. “We have a good diversification of clients and in…

NFX Basis Point Value Contracts; One quarter hubris, three quarters details Standard

The hubris is mine, not Nasdaq’s. Over 20 years ago I came up with the idea for an innovative new futures contract that would improve hedging and engage speculators in new ways in fixed income trading. The idea was basis point value futures. Today, Nasdaq announced just that: a new U.S. Treasury futures product that builds on their cash Treasury market and allows customers to use “the dollar value of one basis point” to more accurately hedge a portfolio of cash Treasurys. The proper name of the contracts is: U.S. DV01 TREASURY FUTURES. I have shared this idea with many…