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Financial news updates from John Lothian News.

Republicans Will Rule in House and Senate, But Have Trouble Revising Dodd-Frank, Says John Damgard Standard

United States Capitol

In what he said was his last speech as president of the Futures Industry Association, John Damgard was optimistic that Republicans would dominate both the Senate and the House in the next election, but not that they would be able to undo any of the provisions of the Dodd-Frank legislation to which they object. Damgard told the Union League Club of Chicago that he expects the House to remain Republican and even gain a few more seats, and that the Senate will likely pick up four to six Republican seats.  “The recent redistricting has guaranteed Republicans control of the House for the next 10 years,”…

CME Group Establishes 100M Fund to Provide Additional Protection for Family Farmers and Ranchers Standard

CME Group released the following statement on February 2, 2012: CME Group Establishes $100M Fund to Provide Additional Protection for Family Farmers and Ranchers Fund Launched as Initial Step in Restoring Confidence of Market Users Press Release CHICAGO, Feb. 2, 2012 /PRNewswire/ — CME Group today announced that it will establish a $100 million fund designed to provide further protection of customer segregated funds for U.S. family farmers and ranchers who hedge their business in CME Group futures markets.  In light of the recent MF Global failure, in which a clearing firm violated CFTC regulations and misused customer monies that should have…

John Lothian News launches FuturesCrowd.com Standard

FuturesCrowd

Who wants to be a Millionaire? In the television game show “Who Wants to be a Millionaire,” contestants have 4 choices on how to answer the questions.  They can answer themselves, or if they don’t know the answer, they can use one of three lifelines to try to come up with the answer. There are three types of lifelines that were used when I watched the Regis Philbin US version of the show: 50/50, Phone a Friend and Poll the Audience. Each one of these lifelines has a unique approach to problem solving.  50/50 is purely probability based.  You get…

Futures industry self-regulatory organizations form joint committee to address customer segregation issues Standard

The NFA released the following statement on January 18: Futures industry self-regulatory organizations form joint committee to address customer segregation issues CME Group and National Futures Association (NFA) today announced, in conjunction with the InterContinental Exchange (ICE), the Kansas City Board of Trade (KCBOT) and the Minneapolis Grain Exchange (MGEX), the formation of a joint committee to review how self-regulatory organizations can strengthen current safeguards for customer segregated funds held at the firm level in light of the MF Global bankruptcy.

Trustee Releases List of the 50 Largest Unsecured Creditors of MF Global Standard

Louis J. Freeh, Chapter 11 trustee of MF Global Holdings Ltd., filed the list January 3rd. JPMorgan Chase tops the list with over $1.2 billion in revolving credit facilit7 debt. Other financial institutions include Wilmington Trust, Banco Monex, UBS and Citibank. Curiously, the global IT consulting firm Headstrong Services, LLC is owed almost $4 million in trade payable debt, good enough for number five on the list. Click here for the entire court document (PDF).

MF Global News (12/29/11 AM) Standard

The latest news on the MF Global bankruptcy and fallout, published in the John Lothian Newsletter (subscribe here) the morning of December 29, 2011. In the wake of the MF Global bankruptcy, John Lothian Newsletter has created a special section on JohnLothianNewsletter.com devoted to news, information and commentary. The section features archived news stories featured in the John Lothian Newsletter, analysis and breaking news. Check regularly for updates. See the MF Global news section here.

CBOE’s William Brodsky Named FOW Person of the Year Standard

Bill Brodsky

William Brodsky, chief executive of CBOE Holdings, reflects on a remarkable year for the exchange. 2011 has been a remarkable year for William Brodsky and the Chicago Board Options Exchange with the launch of a new exchange, a market beating share price rise and numerous front page interviews and behind the scenes discussions extolling the benefits of the futures and options industry. However, 2011 will be remembered as the year that the exchange’s Volatility Index, the VIX, came of age. Elise Coroneos caught up with the man at the helm of the US’s largest independent derivatives exchange for his take on a…

John Lothian News Top Stories of 2011 Standard

John Lothian

We’ve created a list of the five most influential stories of 2011 for each of our newsletters, as well as from MarketsReformWiki, to help define what was a very eventful year across almost every market and industry sector. The year was punctuated by one major story inside another. The bankruptcy of MF Global, which requires its own top five list, became tied to another top story, the European sovereign debt crisis sequel – Greece and Italy. Of course, the downgrade of U.S. debt in August and assorted European states raised the ire of politicians and regulators who called for more…

MF Global News (12/21/11 AM) Standard

The latest news on the MF Global bankruptcy and fallout, published in the John Lothian Newsletter (subscribe here) the morning of December 21, 2011. In the wake of the MF Global bankruptcy, John Lothian Newsletter has created a special section on JohnLothianNewsletter.com devoted to news, information and commentary. The section features archived news stories featured in the John Lothian Newsletter, analysis and breaking news. Check regularly for updates. See the MF Global news section here.