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Daily email newsletters from the John Lothian News staff.

One hundred days of Donald Trump have left investors sanguine; Vix ‘fear gauge’ closes at 3-year low; Brexit Overshadows Election Boost for Pound as Funds Skeptical Standard

Observations & Insight D is for Data Jim Kharouf, John Lothian and Spencer Doar – JLN The sold-out FinTech Exchange conference, hosted by Barchart, was largely about data – what to do with data, how exchanges are capturing new data and how to trade it. That, on its surface, isn’t particularly new. But the infrastructure to capture all kinds of data is now developed. The CME Group’s Julie Armstrong Menacho colorfully outlined how the exchange has migrated all of its historical data onto the cloud, giving customers greater access to it, along with a growing list of partners who provide…

CME spooks investors with warning on market data; How Trump and Brexit Could Change Global Bank Rules; Calypso and R3 partner for blockchain trade matching Standard

First Read D is Data: And That Might Be The Future Jim Kharouf, John Lothian and Spencer Doar – JLN The sold-out FinTech Exchange conference, hosted by Barchart, was largely about data – what to do with data, how exchanges are capturing new data and how to trade it. That, on its surface, isn’t particularly new. But the infrastructure to capture all kinds of data is now developed. The CME Group’s Julie Armstrong Menacho colorfully outlined how the exchange has migrated all of its historical data onto the cloud, giving customers greater access to it, along with a growing list…

The market’s risky bet on stability; Bets on a stock market rally using options just hit record levels; Euro Is Suddenly Everyone’s Favorite After First Round of French Election Standard

Observations & Insight Did you know? Jim Kharouf and Spencer Doar – JLN Moscow, OneChicago, MexDer, Fear Gauge and Trump Street with an Irish twist. No, they are not connected. One of the interesting things about updating annual volume figures on our MarketsWiki site is the snapshot of how a particular exchange has been doing over a number of years. The FIA Annual Volume Survey shows a couple of unusual suspects in the top 5 in 2016 with the National Stock Exchange of India coming in second and the Moscow Exchange at number four in terms of derivatives volumes. At…

Corporate bond trading at MarketAxess reaches record high; ICE says being asked to shift operations from London to continent; SEC working ‘diligently’ on plan to test lower exchange fees Standard

First Read Did you know? Jim Kharouf & Spencer Doar – JLN Moscow, OneChicago, MexDer, Fear Gauge and Trump Street with an Irish twist. No, they are not connected. One of the interesting things about updating annual volume figures on our MarketsWiki site is the snapshot of how a particular exchange has been doing over a number of years. The FIA Annual Volume Survey shows a couple of unusual suspects in the top 5 in 2016 with the National Stock Exchange of India coming in second and the Moscow Exchange at number four in terms of derivatives volumes. At the…

Virtu and Citadel Securities go head to head in HFT; Multi-asset services key for buy-side execution; Why do asset prices move? Standard

Observations & Insight Things I Learned About Finance Bros by (Briefly) Dating a Finance Bro Tara Isabella Burton – The New Yorker It’s not that they’re actually ever mad at the valet. They just want him to learn. /goo.gl/d7Tmpa ****SD: Good for your daily dose of laughs (and some cringes). “They will take you to very trendy experimental-cocktail bars that they read about on Gothamist. They will encourage you to try something with twenty ingredients. They will order an Old Fashioned. Every. Single. Time.” Lead Stories Virtu and Citadel Securities go head to head in HFT Philip Stafford and Nicole…

LSE brushes off Deutsche Boerse blues with ‘strong start’; Acquisitions help Nasdaq beat profit estimates; Brokers “must specialise in research or execution” post-MiFID II Standard

First Read America’s Rich Get Richer and the Poor Get Replaced by Robots Vincent Del Giudice and Wei Lu – Bloomberg Gap widens as automation takes over more low-skill jobs; San Francisco, San Jose lead metro areas with greatest change America’s working class is falling further behind. The rich-poor gap — the difference in annual income between households in the top 20 percent and those in the bottom 20 percent — ballooned by $29,200 to $189,600 between 2010 and 2015, based on Bloomberg calculations using U.S. Census Bureau data. /goo.gl/Naujj4 ***** Robin Hood would definitely have a problem with robots….

Implementation of SA-CCR Important For Liquid and Orderly Listed Options Markets; Seventeen years after 5,000, Nasdaq tops 6,000; What Markets Should Conclude From France’s Election Standard

Observations & Insight Other VIXes Spencer Doar – JLN Of all the CBOE’s products, none gets media attention like the VIX. But CBOE has plenty of other VIX products, ranging from the BPVIX (CBOE/CME FX British Pound Volatility Index) to the GVZ (CBOE Gold ETF Volatility Index). The VIX plummeted yesterday to the 10 handle after the results of the first round of the French election were interpreted as positive (VIX is around 10.6 as of this writing). The media will sometimes give markets the gloss over treatment, look at the VIX and only the VIX, and declare “where’s the…

Wikipedia founder Jimmy Wales launches Wikitribune; European Banks Seen Losing More Share Amid Bond Trading Upturn; LME launches discussion paper on market structure Standard

First Read Lack of Understanding around Disruptive Technologies Presents Opportunity for Risk Professionals Business Wire Risk professionals have an opportunity to close the gap when it comes to understanding and managing rapidly advancing disruptive technology risks, according to a new report published jointly today by Marsh, a leading insurance broker and risk advisor, and RIMS, the risk management society. Doing so, will increasingly require risk managers to play a leading role as their organizations address complex challenges and opportunities in this environment. /goo.gl/z0UAn5 ****** Managing this risk means more than just saying “no”. ++++ Want high-quality journalism? Try paying for…

Anxiety Dissipates After First Ballot; Expectations for euro-dollar, US stock volatility plummet; The Downside of Managing Downside Risk Standard

Observations & Insight Last week’s notables A lot happened last week in the options space. If anybody didn’t follow the week’s developments, here’s a little recap. Big trends are continuing in the market making world. I wouldn’t say they are good. First, Interactive Brokers revealed in its earnings that the firm’s market making operations lost $22 million in Q1. (Remember that the company revealed a bit ago that they were shuttering their options market making operations — some of this loss is restructuring costs.) Second, the KCG/Virtu deal was agreed upon for $1.4 billion. It’s getting hard out there and…