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Financial news updates from John Lothian News.

Newest Criminal Spoofing Case Features Coordinated Spoofing and Front Running Standard

The following is a guest post by Renato Mariotti, a former federal prosecutor and partner at Thompson Coburn LLP.   On last Thursday, June 1st, the Justice Department entered into a plea agreement with a trader named David Liew, publicly revealing the existence of the third-ever criminal spoofing case, which had been filed under seal on January 3rd. In the plea agreement, Liew admitted that from December 2009 to February 2012 he conspired with other precious metal traders to engage in spoofing on hundreds of occasions and to commit fraud by misleading other market participants via his spoof trades.  Liew’s…

BOX’s Focus in 2017: Improved Tech and a Trading Floor Standard

Much of 2017 for BOX depends on whether the exchange will get approval for its proposed trading floor. In this video from the Options Industry Conference in Scottsdale, Ariz., BOX CEO Ed Boyle spoke about BOX’s motivation to open a floor, revamping the exchange’s matching engine, and helping market makers do business.      

MIAX’s Brown on Number 15 and Complex Order Books Standard

In February, MIAX added MIAX PEARL to the options exchange landscape, bringing the total number of exchanges to 15. In this video from the Options Industry Conference in Scottsdale, Ariz., Shelly Brown, executive vice president, strategic planning and operations at MIAX, talks about figuring out PEARL’s fee structure and the group’s focus on continued development of complex order book functionality.   

University of Illinois at Urbana-Champaign Looking for Director, Margolis Markets Information Lab in Department of Finance Standard

U of I Looking for Director for Markets Lab The University of Illinois at Urbana-Champaign is looking for a director for the Margolis Markets Information Lab in the Department of Finance.  Below is the job description. Complete details on the job and where to apply are listed here. Director, Margolis Markets Information Lab Department of Finance University of Illinois at Urbana-Champaign The Department of Finance at Illinois is a world leader in research, teaching and public engagement. We serve the state, the nation, and the world by creating knowledge, preparing students for lives of impact, and addressing critical societal needs…

Insight into the Bats Integration from CBOE’s Lowenthal Standard

CBOE is in the middle of opening a new chapter in its 40-plus year history. In this video from the Options Industry Conference in Scottsdale, Ariz., Andy Lowenthal, senior vice president, head of global derivatives with CBOE, talks about the ongoing integration of Bats technology and what the tie-up means for the exchange.

Nasdaq’s Kennedy Sees Plenty of Room for Options Industry Growth Standard

While the options industry has been incredibly resilient in the face of challenges, Kevin Kennedy, senior vice president, head of U.S. options with Nasdaq, sees the need for growth.  In this video from the Options Industry Conference in Scottsdale, Ariz., Kennedy talks about opportunities to improve the functioning of options markets. Some things Kennedy believes should be addressed are auctions, the number of listed underlyings and spread width. He hopes Nasdaq can take a leadership role in revamping market structure and tailoring the regulatory environment to better suit end users.  Sponsored by:  

People Moves Standard

Yesterday’s lead story mentioned Cameron Smith, Dan Coleman and Eric Noll all moving on to new ventures, some in the markets and some not. There have been some other moves recently too, all courtesy of people updating their LinkedIn profiles. Jennifer Wachtel, Tim Cave, Bruce Goldberg, Tom Thornton-Smith, Eric Hazard, and Brendan Bradley are on the list of updates. Jennifer Wachtel is now executive director, global co-head of marketing at CME Group. She was head of digital marketing prior to this position. Tim Cave, a journalist with Financial News, has joined Tabb Group as a European market structure analyst. Bruce…

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…

Correction: NFA and FINRA Do Recognize Other Regulator’s Bans Standard

John Lothian

It turns out that the NFA and FINRA do jointly recognize the bans of other regulators already. In the specific case I mentioned, that of Jon Corzine, he would register if necessary with the SEC. Whether the SEC will recognize the ban of another regulator is a question I am still awaiting an answer. There is a loophole that was expanded by Dodd-Frank that allows hedge funds with less than $150 million to not have to register with the SEC. Tom Sexton of the NFA responded to my inquiry by saying: With regard to your column last week, you should…