Breaking News

Category Archives: Investing & Trading

Today’s top stories from fixed income, currencies and commodities (FICC)

Regarding the Pope and Credit Default Swaps Standard

By James M. Falvey, Contributing Editor, John Lothian News I once made the mistake of asking a Jesuit Priest what university he attended. The Jesuit, Father Phil, put down his pen and pad of paper, rubbed his hand over his forehead and back over his shiny scalp, grabbing onto the few grey strands left.  “Do you really want to know?” Phil asked me. “Yes, absolutely,” I said. “Okay. Which one?” “You went to more than one school?” I asked, sensing that there was not a quick and easy answer to my question. “Yep. Around ten.” Father Phil had a couple…

Q&A With Don Ross: Can Equity Markets Benefit From Auctions? Ross Looks To Disrupt The Markets With On-Demand Auctions For Stocks, Just Like The Good Ole Days Standard

CODA Markets has been pounding a steady beat for on-demand auctions since launching CODA Block, a 30-second block auction program in 2017. With a new study from ViableMkts of the auction system, data shows CODA Block generally did not create adverse market moves when initiating an auction. Don Ross, CEO of CODA Markets’ parent PDQ Enterprises, spoke with JLN’s Jim Kharouf about the study and his view on auctions throughout the trading day. Q: You have been a proponent of auctions in securities and feature an auction mechanism on your CODA Markets platform. Why such a big fan? The biggest…

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….

FIA Comes to Chicago to Talk Retail Derivatives Standard

The FIA is coming to Chicago for an event focused on the retail listed derivatives market. The event features a keynote address by CFTC Chief Market Intelligence Officer Andrew Busch and panels led by the Most Interesting Man in the World, CQG’s Pat Kenny and JLN’s Contributing Global Markets Editor Jim Kharouf. The event is on Monday, May 14 and free to FIA members. Non-members can attend the event at the Union League Club for $75. FIA CEO and President Walt Lukken will open the event, which is scheduled to start at 1:00 p.m. and end at 5:30 p.m., with…

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…

Crypto Markets News from John Lothian News – May 8, 2018 Standard

Bitcoin Sees Wall Street Warm to Trading Virtual Currency Nathaniel Popper – WSJ Some of the biggest names on Wall Street are warming up to Bitcoin, a virtual currency that for nearly a decade has been consigned to the unregulated fringes of the financial world. https://jlne.ws/2HZoKr5 Buffett and Gates Are the Latest Bitcoin Critics, Halting $10,000 Push Camila Russo and Katherine Chiglinsky – Bloomberg Surprise! Bitcoin is getting no love from two of the world’s wealthiest men. https://jlne.ws/2HYt4qH Dancing Badgers Draw More Attention Than SEC at Ethereum Meeting Camila Russo – Bloomberg In the crypto world, all eyes are on…

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…

Bitcoin and Blockchain: A WILD Opportunity Standard

Bitcoin is not at the dizzying high it was back in December, but interest in cryptocurrencies and blockchain is still strong. The world of crypto and distributed ledger technology keeps expanding, with CME and Cboe now trading bitcoin futures, companies getting into initial coin offerings, cryptocurrency meetups forming, and the list of cryptocurrencies getting longer every week. Women In Listed Derivatives (WILD) and Morgan Lewis jointly hosted a panel on the future of blockchain and cryptocurrencies Tuesday evening to a packed house. The main takeaway on cryptocurrency from the panel was that, although crypto is a new and very speculative…

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…