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Category Archives: Special Report

In-depth special reports on important financial news from the John Lothian News staff.

Shipbuilding: RJ O’Brien Building Business in Tough Times Standard

Gerry Corcoran has seen plenty of ups and downs in almost 30 years at RJ O’Brien & Associates. The key is to be a bit of a contrarian – which means building when others are tearing business units down.   The firm, which holds $3.7 billion in segregated customer funds and is among the largest non-bank FCMs in the industry, has held its own in recent years. Low to negative interest rates globally haven’t helped, but the firm has steadily embarked on expanding geographically as well as adding new business lines for the firm. “We’ve circled the wagons around our…

Shipbuilding: RJ O’Brien Building Business in Tough Times Standard

Gerry Corcoran has seen plenty of ups and downs in almost 30 years at RJ O’Brien & Associates. The key is to be a bit of a contrarian – which means building when others are tearing business units down.   The firm, which holds $3.7 billion in segregated customer funds and is among the largest non-bank FCMs in the industry, has held its own in recent years. Low to negative interest rates globally haven’t helped, but the firm has steadily embarked on expanding geographically as well as adding new business lines for the firm. “We’ve circled the wagons around our…

We Can Rebuild It: SocGen Prime Services Group Reengineered And Growing Standard

 When Societe Generale struck a deal to buy Newedge in its entirety in 2014, some in the industry wondered one simple question — why? Newedge had been on the selling block for years and futures broking and clearing was not, and still is not, considered a hot growth area in the derivatives space. Societe Generale and Credit Agricole held a 50/50 stake in Newedge at the time. But SocGen, as it is often called, decided Newedge was worth the investment. In May 2014, SocGen purchased Credit Agricole’s half for $371 million and devised a new plan to combine the strengths…

Bite Sized: TD Ameritrade’s FCM Looks for Bigger Slice of Retail Pie Standard

Who says there aren’t any retail futures customers out there? Not TD Ameritrade. The online discount brokerage has built a steady book of futures business over the past several years as it looks to grow in the derivatives trading space. TD Ameritrade offered futures trading for more than five years as an FCM broker-dealer before altering its business structure in late 2014. TD Ameritrade Inc., which served as the FCM BD, was changed to a standalone FCM called TD Ameritrade Futures & Forex LLC, allowing the entity to become more efficient in dealing with regulatory obligations.   Those efforts along…

Bite Sized: TD Ameritrade’s FCM Looks for Bigger Slice of Retail Pie Standard

Who says there aren’t any retail futures customers out there? Not TD Ameritrade. The online discount brokerage has built a steady book of futures business over the past several years as it looks to grow in the derivatives trading space. TD Ameritrade offered futures trading for more than five years as an FCM broker-dealer before altering its business structure in late 2014. TD Ameritrade Inc., which served as the FCM BD, was changed to a standalone FCM called TD Ameritrade Futures & Forex LLC, allowing the entity to become more efficient in dealing with regulatory obligations.   Those efforts along…

Full house: OptionsHouse Set To Grow Futures Business Standard

In an era where some firms are exiting the FCM business, one sees opportunity. OptionsHouse, a long-time securities broker, is also officially a futures commission merchant, making it one of the few new recent entrants in the space. The online brokerage used to have an introducing broker which it didn’t market much, but that will change with the FCM, launched on May 25. Now, OptionsHouse customers can trade equities, equity options, futures and futures options with one integrated platform. However, none of this would have been possible if it were not for the successful merger of tradeMonster and OptionsHouse in…

ISE Getting A New Parent Standard

Amid all the talk about mega-deals in the exchange space, Nasdaq has grabbed the latest headlines with a deal to buy the International Securities Exchange, (ISE) for $1.1 billion. The transaction is expected to close in the second half of 2016. The move bolsters Deutsche Boerse‘s pocketbook in its push to merge with the London Stock Exchange. From Nasdaq’s perspective, they get a relative bargain in the ISE, which was bought by Deutsche Boerse’s Eurex for $2.8 billion cash in December 2007. At the time, the ISE held 28.1 percent of the US equity options marketshare, second only to CBOE…

So I Found You Again On Facebook: LSE and Deutsche Börse Dating Again Standard

Well, here we go again. The on again, off again affair between the London Stock Exchange Group and Deutsche Börse is, well on again. The two exchanges are looking to create “an exchange of equals” which would pair two powerful securities, derivatives, clearing, products and services companies in the global exchange space. LSE made a run at Deutsche Börse, just prior to the DB’s IPO in February 2001 but the deal fell through when shareholders in London objected. The second deal proposal between the two in 2004 ended with more shareholder disdain. And now here we are in 2016 with…

Sweet 16: The Tops for 2016 Standard

At last fall’s FIA Expo Chicago, John Lothian News partnered with Cinnober Financial Technology to  bring you industry conversations, where we conduct short interviews with industry participants on the important topics facing the financial markets. The 2015 theme is “Sweet 16: The Tops For 2016.” What technology, regulation, exchange or macroeconomic issue or trend will be most important to our industry next year? We will take the 16 best ideas and thoughts and package them in a John Lothian News video series. Here is what our participants had to say: Part 1 – Exchanges: Exchange leaders will be dealing with…