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Category Archives: Banks, Brokers & Managed Funds

The latest from banks, brokers, hedge funds and managed futures

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…

The Black Swan – the new symbol of the United States of America Standard

  Yah baby, Yah! Dodd-Frank, gone. Clearing mandate, gone. Regulations, gone. Low interest rates, no problem. Volcker Rule, gone. Volatility, you bet. Bullish on the exchange sector, you bet. The American voters just unleashed the greatest gift on the world of trading we could have ever asked for. We will now have volatility at all times of the day and night. Binary contracts just became a big thing. Forget about market direction. You better learn to trade volatility. We just made the Black Swan the new symbol of the United State of America. Goodbye Eagle. You want some Twitter rants…

John Lothian: U.S. Stock Exchanges to Overhaul Process for Reopening Trading After Halt; Virtu Never Loses (Well, Almost Never); Will LME consolidate or fragment London’s bullion market? Standard

First Read Bits & Pieces By John J. Lothian This morning we are running the video interview we did with David Lehman of the CME Group about the Live Cattle contract changes the CME is proposing. Pending CFTC approval, the new delivery specs will go into effect later this month. We are also releasing the video from Walt Lukken’s MarketsWiki Education World of Opportunity presentation in Chicago from July. He gave not one, but two great mini-presentations – the first half as an introduction to the industry and the current state, and the second half as a few career tips…

John Lothian: Whistleblowers Are Poised to Collect $100 Million; UK government bonds turn negative in historic rally; London Metal Exchange earnings drop as activity declines Standard

First Read MarketsWiki Education Video Update Yesterday we started on Day 2 of our MarketsWiki Education series from Chicago, and we started off with a bang. The usually low-key Jeff Levoff, partner at DRW gave a rousing and thoughtful presentation on the company’s philosophy, the role of proprietary traders and how that is changing. As this was a version of the talk he gives on college campuses across the nation, it was, shall we say, well received. Also, look below the video for a list of the presentations we have published thus far. We have a lot of fantastic presentations…

John Lothian: CFTC Announces Enhancements to Protect Customer Funds; London market to get new gold futures contracts; Bats Europe targets block trades ahead of Mifid II Standard

First Read Yes, Precious Doug Ashburn, JLN Sometimes the best ideas are worth waiting 139 years for. This morning the World Gold Council and the London Metal Exchange, together with a consortium of banks, announced a planned launch of LMEprecious, a new platform for spot, daily and monthly futures, options and calendar spread contracts for gold and silver, with platinum and palladium planned for down the road. This will mark the second attempt at a gold futures contract at the 139-year-old LME. The previous one, London Gold Futures Market, launched in 1982 and never really caught on. It was shuttered…

John Lothian: Trading Tech Accelerates Toward Speed of Light; PwC must face $1 billion MF Global malpractice lawsuit; Bitcoin Exchange to Spread Losses of Hack Standard

First Read Bits & Pieces By John J. Lothian Nick Notorangelo of Riskbone is a hero. He helped save a young man’s life last week after the 27-year old man had been shot in the neck during an apparent drug deal in the Lakeview neighborhood on Chicago’s north side. Here is the story. Nice work Nick! CME Group’s Trading Tech 300 merit badge program offering the law and technology merit badges was a big success. CME Group Chief Intellectual Property Counsel and merit badge instructor Matthew Kelly, and some associates, did a great job with the classes. It was a…