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Financial news updates from John Lothian News.

The Most Popular Stories of 2016 on JohnLothianNews.com Standard

As we end 2016 we should all stop in at Ceres in the Chicago Board of Trade Building for a stiff drink and to shake the hand of Billy Assimos. He was the focus of the most read story on www.johnlothiannews.com in 2016, according to Google Analytics. Sarah Rudolph penned the story, “Billy Assimos, the Face of Ceres” in June of this year. Assimos is the longtime manager of Ceres, a restaurant and bar in the CBOT Building, and a friend of many. I guess it pays to serve the stiffest drinks in Chicago. Coming in second place was Jim…

Markets Aren’t the Only Thing That Make Lows Standard

The holidays are supposed to be a time of merry cheer and happy tidings and for many that is the case. However, for others it is a time of loneliness and even depression. It is easy to miss the signs in friends and family members as we are celebrating the holidays, but it is important to keep in mind. Holidays can be a time of new lows. For some the loneliness and depression are a matter of missing loved ones who have departed. It is the memories of the happy holiday seasons of the past, now soured by their absence…

Head East: TT’s Robbie McDonnell Sees Opportunity In Asia As Never Before Standard

It’s gonna be a good year after all for Asia’s markets. Robbie McDonnell, Trading Technologies’ executive vice president of global sales, who returned to Asia full time in recent months, said the region got a nice volume bump in November but the real growth is soon to come for a region that is implementing new technology, new partnerships and more ways to increase trading flows East to West. Let’s start with the numbers, as 2016 was shaping up to be a down year for Asian derivatives markets. The Asia-Pacific group of exchanges as a whole were down 8.6 percent over…

Should ION and FIS be worried? Standard

Just days after our column about Cinnober’s plans to move into the post-trade space with plans to take on legacy system giants, an upstart from Switzerland says it is ready, willing and able to do just that. And then there were two. Revendex, a consulting and IT firm based outside Zurich, says that its post-trade settlement system is ready to take on ION Trading’s Rolfe & Nolan system and FIS’s Stream (formerly GMI) platforms. Those two have dominated the post-trade space for decades, but Revendex executives say the systems are expensive, out of date and too slow. Revendex’s managing directors…

Gorbachev is Dead! Fake News is Nothing New To The Markets Standard

Courtesy of Wikipedia

Fake News Is Just Like a Game of Who Wants to be a Millionaire Fake news is nothing new. In fact, it is neither fake nor news. It is something called rumors. A rumor is just talk or opinion widely disseminated with no discernible source or a statement or report current without known authority for its truth. Sometimes it is true, sometimes it is not. Sometimes it was created by individuals to influence a market, sometimes it is just someone misinterpreting something they see. The markets have long dealt with rumors. That is part of the beauty of markets. They…

Jim Kharouf Named New CEO of John J. Lothian & Company, Inc. Standard

Jim Kharouf

John Lothian Moves to Executive Chairman; Kharouf Gets Equity Stake In Firm James Kharouf has been named CEO of John J. Lothian & Company, Inc., replacing company founder John Lothian. Lothian moves to the role of executive chairman of the financial markets- focused media company. Kharouf, 50, has served as editor-in-chief of John Lothian News since 2007 and president of JLN since 2010. He will assume the role of CEO on January 9, 2017. A Milwaukee native, Kharouf is a graduate of Marquette University with a degree in journalism and has been a journalist and editor for more than 25…

The View from Convergex: Reinvention, Options and Market Structure Standard

It may come as a surprise that Convergex, the agency brokerage with headquarters in New York, has a hand in approximately 20 percent of all options routed through U.S. listed options exchanges and actually executes some 8 percent of daily options volume.   The company has been reinventing itself over the last two-and-a-half years under the leadership of Eric Noll, who became CEO in the wake of a 2013 settlement. Convergex’s reputation took a hit when it admitted it had defrauded customers by inflating its fees. The firm settled criminal and civil charges to the tune of $151 million. Noll…

2016 Could Be The Year Of The CEO Standard

Forget the Chinese New Year plunge, Brexit, The Donald or even the Cubs.This is also shaping up as the year of the new CEO, with exchanges and clearinghouses especially, in moves that could reshape our markets in the coming years. The two biggest CEO changes came within days of each other, with [[Terry Duffy]] taking the reins as CEO at CME Group from [[Phupinder Gill]] and [[Adena Friedman]] being named CEO at Nasdaq, taking over from longtime CEO [[Robert Greifeld]] at the start of 2017. They are not alone in exchange CEO transitions. [[Dominic Stevens]] from the Australian Securities Exchange…

Phupinder Gill is Leaving the CME Group? Standard

Phupinder Gill is retiring at the end of the year, the CME announced. That is the cover story. What the real story is will be more difficult to discover, but this much is clear, this was not the plan. When I interviewed Gill at a Chicago Executive’s Club luncheon earlier this year we discussed the approach of developing your successor. Gill laid out how the CME had identified a group of CME executives that were all being groomed as successors. To have Terry Duffy named as CEO, and Gill to exit so quickly, smacks of some other kind of decision…