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Category Archives: Exchanges, OTC & Clearing

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NFX Basis Point Value Contracts; One quarter hubris, three quarters details Standard

The hubris is mine, not Nasdaq’s. Over 20 years ago I came up with the idea for an innovative new futures contract that would improve hedging and engage speculators in new ways in fixed income trading. The idea was basis point value futures. Today, Nasdaq announced just that: a new U.S. Treasury futures product that builds on their cash Treasury market and allows customers to use “the dollar value of one basis point” to more accurately hedge a portfolio of cash Treasurys. The proper name of the contracts is: U.S. DV01 TREASURY FUTURES. I have shared this idea with many…

More Exchange News for Today Standard

CME to add options for Black Sea grain futures Reuters Staff CME Group is to introduce options contracts for its Black Sea wheat and corn futures as it seeks to further develop the derivatives targeting a major export zone. https://goo.gl/177vT9 Nasdaq Commodities to Launch European Spot Market Nasdaq, Inc. STOCKHOLM, Sweden, June 26, 2018 (GLOBE NEWSWIRE) — Nasdaq (Nasdaq:NDAQ) Commodities today announced a plan to offer Day Ahead Auction Markets for Electricity in Germany, France and the Nordics alongside the existing Power Futures contracts. The implementation of Capacity Allocation & Congestion Management (CACM) aims at promoting effective competition in the…

Finding Opportunity: Peter Lenardos, CFO, Cinnober Says Growth and Profitability Are Coming Standard

Cinnober has built its reputation in the industry as a pioneer and an opportunistic company that looks for new ways to address market needs. So in many ways it was not surprising the firm hired Peter Lenardos as its new CFO two weeks ago. With his background in investment research at Royal Bank of Canada and elsewhere, he has watched the industry from a specific lens that focuses on the financial condition of a company, as well as its strategic positioning.  When he got the call from Cinnober’s CEO Veronica Augustsson, he was ready to bring a different approach to…

Sincere Flattery and Competition Standard

“Imitation is the sincerest form of flattery,” wrote English cleric and writer Charles Caleb Colton. The NYSE and Nasdaq have flattered each other plenty over the years as they competed globally in the exchange and OTC market space. It often seemed there was not a move NYSE made that Nasdaq did not try to match or top, and vice versa. The imitation here is not that NYSE matched Nasdaq by naming a woman, Stacey Cunningham, as head of the exchange to counter Nasdaq’s Adena Friedman. Rather, both exchanges chose the best qualified candidates for the role of president or CEO….

Crypto Markets News from John Lothian News – May 17, 2018 Standard

crypto markets update 2

SEC Tries to Scam ICO Investors to Show Them How Easy It Is Matt Robinson – Bloomberg Agency sets up a fake ICO to warn investors about the risks; Regulator has repeatedly warned investors of fraud in ICOs A hot new initial coin offering gives investors the chance of a lifetime to make money from sun-soaked beaches and crystal-clear waters. It also provides something even more valuable: advice on how to avoid getting ripped off by fraudulent ICOs. /jlne.ws/2InVoCL Devvio Blockchain First to Surpass Millions of Transactions per Second The Merkle Devvio, a pioneer in blockchain protocols (https://devv.io), today announced…

Crypto Markets News from John Lothian News – May 16, 2018 Standard

crypto markets update 2

  Notes from Consensus 2018 – Day 2 By Chuck Mackie – JLN As expected, Day 2 of Coindesk’s Consensus conference lacked some of the energy and fireworks of the first day but it did manage to defy what seems to be a law of nature: fewer people in attendance at the second day of an industry event when compared to the first. In this case, Coindesk announced that total registration ticked up to over 8,500 and it was definitely harder to fight the lines for lunch on the second day compared to the first. Somehow I survived. Beyond that,…

Crypto Markets News from John Lothian News – May 15, 2018 Standard

crypto markets update 2

Notes from Day One at Consensus By Chuck Mackie – JLN If you had any doubts about the swelling surge of interest in cryptoassets, you only had to try and check in to [[https://www.coindesk.com/|Coindesk’s]] [[https://www.coindesk.com/events/consensus-2018/|Consensus conference]] in midtown Manhattan around mid-morning on Monday. The line snaked its way back and forth through the 2nd floor lobby, down the escalator and out of the front door of the hotel, and it took up to two-and-a-half hours for the reported 7,700 attendees to check in for the event. Consensus began four years ago with 500 true believers in attendance, grew to 1,500…

CME Adds to Interest Rate Arsenal with Eris Licensing Deal Standard

The CME Group just moved even closer to its goal of becoming a one-stop shop for all things related to interest rates. CME and Eris Exchange entered into an exclusive licensing agreement Thursday allowing CME to list Eris’s USD Interest Rate Swap Futures. Eris still retains the intellectual property underlying the contract. “This news for us is a really big deal for the adoption of the Eris product globally,” said Eris Exchange CEO Neal Brady. “It just clears away a whole host of obstacles in people further adopting the product.”   But more than just removing obstacles for Eris, the…

Potential CME-NEX Deal Is Full of History, Dilemma, Risk and Reward Standard

For many years, the Chicago Board of Trade had cash treasuries envy, wanting to add the trading of cash treasury bonds and notes to its offerings. For many years, the CME has had cash currency trading envy. Both exchanges, now part of the CME Group, have tried to compete in cash Treasury and FX through various collaborations and initiatives. None of them succeeded. Chicago Board Brokerage and FXMarketSpace are long gone, but the desire to add treasuries and cash FX trading has never disappeared. Now, if CME Group’s confirmed interest in NEX Group becomes a deal, it can add both…