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Financial news updates from John Lothian News.

How do we make American markets great again? Keep it simple, stupid. Standard

CFTC Commissioner Christopher Giancarlo detailed his plan for the agency after being nominated by President Trump as chairman of the Commodity Futures Trading Commission on Wednesday at FIA Boca. Gene Simmons would be proud — the new initiative is called Project KISS (Keep It Simple, Stupid). KISS has three key goals: fostering U.S. economic growth, enhancing markets and “rightsizing” the agency’s footprint. All of these tie into Giancarlo’s overarching point about the agency — it has lost sight of its regulatory goals.  On the topic of fostering U.S. economic growth, Giancarlo took a big picture look at the tumult of…

My Picks for CFTC and SEC Commissioners Standard

Despite repeated inquiries to knowledgeable industry players, there is little buzz about prospective new CFTC and SEC Commissioners outside of the chairmen. So if there is no buzz, then let’s create some of our own in time for the FIA Boca Raton International Conference.  I am going to give you my top ten potential candidates for each commission in alphabetical order. That they are on the list does not mean they would be willing to serve, but it does mean I believe they are eminently qualified to serve. I am also going to share with you honorable mentions. These are others…

More power to ‘em: Nodal acquired by EEX Standard

The UK doesn’t want ICE to have Trayport. The LSE/Deutsche Boerse deal looks dead in the water. But in one neck of the exchange woods — power — all parties appear happy. Last Friday, the energy exchange EEX (part of the Deutsche Boerse empire) agreed to buy the U.S. based Nodal Exchange in an all-share deal, instantly turning the franchise global. “What’s perfect about this acquisition in some respects is that we do very much similar things — they serve the power markets in Europe and we serve the power markets in the United States — and yet we don’t…

MarketsWiki Education 2017 World of Opportunity Series for Stockholm, Chicago and New York Announced Standard

John Lothian News to hold March 1, 2017 Stockholm WOO event on campus of KTH; Chicago events return to Stuart School of Business of Illinois Tech and Trading Technologies and New York to Nasdaq Marketsite; Relaunched MarketsWiki Education website John Lothian News is pleased to announce its dates for this year’s MarketsWiki Education World of Opportunity series, including a March 1 program in Stockholm on the campus of the Royal Institute of Technology. Events are also planned for New York and Chicago in July, with venues of Nasdaq’s Marketsite in New York and the Stuart School of Business at Illinois…

CFTC Commissioner Bowen Outlines Disruptive Derivatives Developments at Brodsky Family Lecture Standard

The fate of financial regulations, and specifically the Dodd-Frank Act, under the Trump administration is one of the biggest questions facing the industry and investors.  CFTC Commissioner Sharon Bowen addressed that question in a speech at the Northwestern University Pritzker School of Law last night as part of the Brodsky Family JD-MBA Lecture Series. Bowen earned her law degree at Northwestern’s Law School and is a strong supporter of the school. In addition to her role at the CFTC, she was also acting head of the Securities Investor Protection Corporation, chartered by Congress to help protect U.S. investors from brokerage…

Maker or Taker? Standard

“Maker – Taker” is a market model that rewards market participants for offering liquidity – “making” – and penalizes them for “taking” market liquidity.   Many makers are also takers. It is the way of the markets, and the way of the world.   Are you a maker, or a taker? It is a good question to ask. While we all do both, it is our outlook that defines whether we are makers or takers.   For example, are you a market participant who just goes home at the end of the day, or do you find a way to…

Solidifying an American foothold: LSEG’s UnaVista and MTS platforms look to expand Standard

The London Stock Exchange Group has plenty of reasons to be in the news due to its pending merger with Deutsche Boerse, but while all of those discussions take place, parts of the LSEG family are making moves of their own. The two arms in motion are MTS, a bond trading platform, and UnaVista, a back and middle office platform for reconciliation, reporting, matching and validation. Both are in a similar situation — they have a large presence in Europe but not so much in the United States. For example, MTS is dominant in EU sovereign bond trading and UnaVista…

The Aggregated Wisdom of Henry Schwartz Standard

In December, JLN was lucky to have Henry Schwartz of Trade Alert as a guest editor for the JLN Options newsletter. Some of you might have missed his contributions from that week – below is a post comprised of all of his observations with some slight edits. His columns are listed in chronological order from when they were published (12-12-16 through 12-16-16). Complex Orders and Daily Options Volume It’s a great honor to edit the JLN Options newsletter because I have always found it to be a crucial source of timely and relevant news (and not ‘fake news’) for professionals…

Eris Keeps Pace With Evolving Swaps Markets With New Hire, George Harrington Standard

As the interest rate swaps market continues to evolve, Eris Exchange is keeping pace. Eris, the U.S. futures exchange that offers interest rate swap futures as an alternative to OTC swaps, has made a new hire to help bring in more big OTC participants. George Harrington previously headed Bloomberg Markets and oversaw Bloomberg’s SEF, MTF, and Japanese ETP regulated trading platforms, so he has plenty of experience with the regulations that led to a boom in SEFs and the futurization of interest rate swaps. At Eris, he will focus on working across the execution management and order management systems to…