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Category Archives: Exchanges, OTC & Clearing

Top news from exchanges, clearing, settlement and trade execution facilities

Don’t Blink, The Markets Are Changing Right In Front of Your Eyes Standard

Eighteen Years Later, Another Inflection Point Eighteen years after the start of this newsletter, the markets and its participants face new challenges that make reading JLN today even more important, relevant and necessary to keep abreast of the latest disruptive challenges. Today we find ourselves at an inflection point in the markets, with a new generation of digital natives discovering whole new opportunities in the markets, billions of dollars pouring into potentially disintermediating fintech and intense global interest in all things fintech and crypto. Back in 2000, when this newsletter was first published, the markets were facing the move from…

As SEC Subpoenas to Tech Companies in Digital Tokens Market Increase, What Issuers Need to Know Standard

  The Securities and Exchange Commission (“SEC”) reportedly has revved up its focus and issued a significant number of subpoenas targeting technology companies in the digital token space, following on earlier pronouncements from the agency that it would expand its focus on ICOs and cryptocurrencies. The subpoena process is one of the primary weapons in the SEC’s enforcement arsenal, and ICO issuers will need to understand what they can expect over the next few weeks.  What is a subpoena? A subpoena is a formal request from the SEC staff for documents or testimony, which can be enforced with a court…

Call the Guinness Book – Trading Records at CME Continue Standard

In 2018, 40% of Eurodollar options trading, 84% of Treasury options trading on the screen  The hit parade continues over at CME Group. Its markets didn’t need a volatility spike to continue their volume and open interest trends, but CME got one anyway and benefitted, especially in the interest rate options complex. The exchange group already had record electronic daily activity in its interest rate options in January. On February 6, as market participants were still trying to wrap their heads around inflation concerns and a market selloff, CME Group saw 2.96 million interest rate options trade on Globex. The…

Blockbuster – CME looks to increase back month activity in ag futures Standard

Twenty years ago, block trading of agricultural commodity futures never would have seen the light of day. There was no way the locals in the pit would have let block trades in corn or wheat or any of the other ag products happen. They would have demanded a piece of the action. Markets sure don’t look like they did two decades ago, though, and on Monday, block trades – large, privately negotiated trades executed off the floor or electronic market but cleared by the exchange – were executed in hogs, Black Sea wheat and urea fertilizer. Tuesday saw some corn…

Asia Pacific Financial News from John Lothian News – December 21, 2017 Standard

Lead Stories China to Shake Up Global Market With Yuan-Based Oil Futures Contract; Chinese traders, analysts expect start by early 2018 By Georgi Kantchev – WSJ China is preparing to launch its own yuan-based oil futures contract, a move set to shake up the 96 million barrel-per-day global crude market currently dominated by trading in London and New York. https://goo.gl/FMoxQ4 Cameron sold out more than China Bruno Maçães – The Royal Gazette When it was announced earlier this week that former British Prime Minister David Cameron had accepted a leadership role in a new $1 billion UK investment fund intended…

Seed CX Swaps Hemp For Cryptocurrencies Standard

Bittrex takes majority stake in Chicago fintech firm Seed CX. Bitcoin hit the derivatives mainstream, but what about its other crypto cohorts?   On Tuesday, it was announced that Bittrex, a U.S.-based cryptocurrency exchange handling some $3 billion notional of transactions daily, took a majority stake in two-year-old Chicago fintech startup Seed CX for an undisclosed amount. Seed CX was originally launched with plans to trade industrial hemp derivatives on its CFTC-approved swap execution facility (SEF).   Now, Seed will apply its technology to spot and derivative crypto trading alongside corresponding settlement services for an institutional crowd. Notably, by using…

Asia Pacific Financial News from John Lothian News – December 20, 2017 Standard

Lead Stories Is Asia driving the Bitcoin craze? Karishma Vaswani – BBC But this, says Dexter Ng, is the workshop of the future. A self-professed cryptocurrency entrepreneur, he’s the chief technology officer of SG Mining – a business making and selling rigs. These are the powerful computers that solve complex mathematical problems in a process that earns their owners digital currencies such as Bitcoin. https://goo.gl/AaJZKt Smarter weapons needed to fight savvy financial criminals; With money laundering the fourth most common financial crime in Singapore, we need to step up collaboration DIVYA KHANGAROT – TNP Money laundering has existed for as…

Asia Pacific Financial News from John Lothian News – December 19, 2017 Standard

Lead Stories South Korean cryptocurrency exchange to file for bankruptcy after hacking Reuters Staff A South Korean cryptocurrency exchange said on Tuesday it is shutting down and is filing for bankruptcy after it was hacked for the second time this year, highlighting concerns about security as trade in bitcoin and other virtual currencies boom. https://goo.gl/mmcpy4 China issues new code of conduct to tame overseas investors; New guidelines set out 36 dos and don’ts to bring order to booming sector Frank Tang – South China Morning Post Beijing has imposed a 36-point code of conduct for the country’s private enterprises to…

Asia Pacific Financial News from John Lothian News – December 18, 2017 Standard

Lead Stories Hong Kong Listings Rule Changes Set to Transform Market, Li Says By Benjamin Robertson and Rishaad Salamat – Bloomberg HKEX on Friday proposed allowing dual-class share companies; Profitability requirement for biotech companies also dropped Hong Kong Exchanges & Clearing Ltd.’s proposal to change which companies are eligible to list in the city will boost the pipeline of initial public offerings, according to Chief Executive Officer Charles Li. https://goo.gl/LHtGVH Trump to label China as a strategic ‘competitor’; Beijing accused of pursuing policies of economic aggression to weaken US Demetri Sevastopulo in Washington – FT President Donald Trump will describe…