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Category Archives: Mwiki

Alphabet Soup: The DAO, ETH, ICOs and the SEC Standard

By Jim Falvey Technology usually outpaces the law. It can take months, if not years, for legislators, regulators and courts to gain an understanding of technology and then to apply existing law to the new technology and/or create new laws for the technological developments. In the remarkable world of cryptocurrencies and distributed ledger technology (often referred to as “Blockchain”), we are seeing both occur. In May 2016, a virtual organization called The DAO, which stands for Decentralized Autonomous Organization, came onto the scene in the Ethereum world. For the uninitiated, the Ethereum Blockchain sponsors the second most significant virtual currency…

Russell Suite Competition Ambiguity Raises Some Questions Standard

Exclusive. Non-exclusive. Exclusive. CME. ICE. CME again. The story of the Russell Index futures complex licensing over the years is a study in ambiguity, changing strategies and partners. We know the  will win this round as they currently hold the long term license for the products. But what will happen in the short term is ambiguous as these two global exchange giants square off and try to maintain control or pry loose the open interest in the Russell futures products. After ICE took over an exclusive Russell indexes licensing agreement from CME in 2007, CME returned the favor by recently…

Financial Markets Leaders Remember the late Magnus Bocker Standard

I asked several leaders around the exchange world to offer remembrances of Magnus Bocker, the late former CEO of SGX. To start, I shall offer my own and add additional remembrances as they come in. I first met Magnus Bocker at a Deutsche Bank investment banking financial technology conference in New York where I had been asked to moderate an exchange leader panel. Magnus was then president of Nasdaq OMX. Also on the panel was Larry Leibowitz representing NYSE Euronext. Magnus was always gracious with me. He was likable, always smiling, whip-smart and well-dressed. In fact one year at the…

Are we seeing the end of Wall Street and the beginning of a new one? Standard

Silicon Valley icon, investor and entrepreneur Vinod Khosla told an audience last week at the Commonwealth Club of California that technological disruption is coming to most of the top industries in the United States. And while he didn’t mention Wall Street, he could have. “Citibank won’t solve financial inclusion, Square will if anybody does it,” he said. “Volkswagen and GM won’t solve transportation. Whether it’s Waymo or somebody else who does it, it will be a technology driven, non-institutional, ‘let’s break the rules,’ radical kind of approach. This non-institutional way of doing things, though less predictable, is much more fun…

What Education Does: How The Financial Industry Can Shape Young Minds And Our Industry’s Future Standard

Coming off two weeks of MarketsWiki Education sessions, it’s time to stop and look at education. It’s hard to believe, but most schools – and let’s stick with high schools in the Chicago area – do not have a financial education program built into their curriculum. What a shame. We demand that kids study, build a foundation to master a subject, and excel in their careers, but almost never teach them how to manage the money they earn. Chicago Public Schools is aiming to change that beginning this fall, with a new requirement that all of its students take a…

On The Move: Vela Makes its second fintech acquisition in the last two months, acquiring Object Trading in addition to the OptionsCity deal that closed in June. Standard

Vela Trading Technologies has been on an acquisition binge since rebranding from its former incarnations as SR Labs and Wombat Financial Software – at least, if you can call two a binge. Less than a month after buying OptionsCity, the fintech company that provided electronic options and futures trading, Vela has announced it will acquire Object Trading, a global direct market access provider located in London. According to Vela’s CEO, Jennifer Nayar, Vela is very strong in the market data space but not as much in direct market access, and the Object Trading acquisition helps Vela to be a “much…

Jim Kharouf Made a Strong Statement Standard

Jim Kharouf

FOW-JLN Event Showed His Impact on Program Jim Kharouf made a strong statement with his design, leadership and execution of the FOW-JLN Trading Chicago event on June 28th in collaboration with the FOW team and I hope the industry took notice. The event drew 210 people to talk about the key issues facing money managers, traders, exchanges, clearinghouses, brokers, vendors and the industry. What was special about the co-sponsored event was that the program used many of the items in our toolbox to deliver an interesting, educational, lively and real event. With much help and support from FOW, we featured…

You’re Invited to FOW-John Lothian News Trading Chicago on June 28th! Standard

This one-day event at the Swissotel on June 28th is aimed largely at the end-users of the markets: commodity trading advisors, asset managers, hedge funds and proprietary traders.  The event is free to attend for CTAs, asset managers, props and hedge funds. To register click HERE. For full conference information, click HERE. The conference will cover the issues that impact those firms directly – regulation, technology and market structure, with an underlying thread of trading in an age of uncertainty. All of this will be delivered in a variety of formats, from an Oxford-style debate on the Dodd-Frank Act’s repeal…

Osaka Exchange of Japan Exchange Group Joins John Lothian News Sponsors Standard

First Asian Exchange Sponsor of John Lothian News John Lothian News is pleased to announce that the Osaka Exchange has agreed to become a Contributor Level sponsor of John Lothian News. Osaka Exchange (OSE) is the derivatives arm of the Japan Exchange Group (JPX) and widely known as the mother market of Nikkei 225 Futures and Options. OSE renewed its trading platform in July 2016 and trading is now available nearly 24 hours a day in its markets, which are some of the most liquid in the world. “We (Osaka Exchange-JPX Group) are excited to build the new relationship with…