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Category Archives: Investing & Trading

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

Russell Suite Competition Ambiguity Raises Some Questions Standard

Exclusive. Non-exclusive. Exclusive. CME. ICE. CME again. The story of the Russell Index futures complex licensing over the years is a study in ambiguity, changing strategies and partners. We know the  will win this round as they currently hold the long term license for the products. But what will happen in the short term is ambiguous as these two global exchange giants square off and try to maintain control or pry loose the open interest in the Russell futures products. After ICE took over an exclusive Russell indexes licensing agreement from CME in 2007, CME returned the favor by recently…

Asia Pacific Financial News from John Lothian News – August 10, 2017 Standard

Lead Stories Former HK commodities exchange chief charged with conspiracy to defraud regulator: court Reuters Prominent businessman Barry Cheung, who founded the now-defunct Hong Kong Mercantile Exchange, appeared in a Hong Kong court on Thursday charged with conspiracy to defraud the securities regulator and fraud. https://goo.gl/AXG4vE SEC pushes back on Chinese-led takeover of Chicago Stock Exchange; After initially supporting deal, regulator delays approval of politicised transaction Don Weinland and Hudson Lockett in Hong Kong – FT The US Securities and Exchange Commission has delayed approval of a Chinese-led takeover of the Chicago Stock Exchange, the latest setback for an acquisition…

Asia Pacific Financial News from John Lothian News – August 8, 2017 Standard

Lead Stories Asia is building its own world order Parag Khanna – CNN Much has been made recently of how the policies of the Trump administration clash with the global conventional wisdom — and how these contrast with the new spirit of global leadership emanating from China. https://goo.gl/wNXVhL Time’s come for an Asian-Asean century By Roberto F de Ocampo – Asia News Network The first step in Asean’s long journey to today can, perhaps, be said to have been taken about 13 years before its formal founding in August 1967 with the signing of the Bangkok Declaration by the Philippines,…

Asia Pacific Financial News from John Lothian News -August 3, 2017 Standard

Lead Stories Your Evening Briefing: China Fears a Meltdown, Hong Kong’s Tiny Flats Bloomberg News China is afraid of what it might become – more specifically, it’s afraid of becoming Japan. A new light has been shone on the reasons for Beijing’s dramatic crackdown on private firms snapping up foreign assets — a report commissioned by President Xi Jinping’s top economic adviser, in which a key recommendation was to curtail big private companies’ global buying spree. The study warns China is in danger of emulating Japan in the 1980s, when it had become a manufacturing powerhouse and started buying up…

Asian Financial News from John Lothian News – July 25, 2017 Standard

Lead Stories HNA unveils New York-based charity as controlling shareholder; Acquisitive Chinese investor’s surprise revelation as lenders turn off taps JOYCE HO, Nikkei Acquisitive Chinese outbound investor HNA Group has openly disclosed its shareholding structure for the first time amid rising concerns that Beijing’s deleveraging campaign might choke lending to the company which has largely fueled its expansion through debts and collateralization. https://goo.gl/M6Feue Column: Time to OK Chinese investors’ controversial Chicago Stock Exchange deal Robert Reed – Chicago Tribune The time has come for federal regulators to approve a small but highly controversial local business deal — the purchase of…

Osaka Exchange of Japan Exchange Group Joins John Lothian News Sponsors Standard

First Asian Exchange Sponsor of John Lothian News John Lothian News is pleased to announce that the Osaka Exchange has agreed to become a Contributor Level sponsor of John Lothian News. Osaka Exchange (OSE) is the derivatives arm of the Japan Exchange Group (JPX) and widely known as the mother market of Nikkei 225 Futures and Options. OSE renewed its trading platform in July 2016 and trading is now available nearly 24 hours a day in its markets, which are some of the most liquid in the world. “We (Osaka Exchange-JPX Group) are excited to build the new relationship with…

Correction: NFA and FINRA Do Recognize Other Regulator’s Bans Standard

John Lothian

It turns out that the NFA and FINRA do jointly recognize the bans of other regulators already. In the specific case I mentioned, that of Jon Corzine, he would register if necessary with the SEC. Whether the SEC will recognize the ban of another regulator is a question I am still awaiting an answer. There is a loophole that was expanded by Dodd-Frank that allows hedge funds with less than $150 million to not have to register with the SEC. Tom Sexton of the NFA responded to my inquiry by saying: With regard to your column last week, you should…

Time to Close the Asset Class Ban Loophole Standard

Corzine and his ilk Should be Banned Across All Asset Classes Note: A correction to this story has been posted here. The NFA and FINRA to recognize the bans of other regulators. With the recent news that former MF Global CEO Jon Corzine is attempting to make a comeback at age 70 as a hedge fund manager, it became clear there is a hole in our regulatory system that needs to be fixed. Corzine is banned for life by the CFTC from trading futures, yet he can operate in the securities and FX worlds managing other people’s money. It is…

The Event Of The Summer: JLN & FOW Present Trading Chicago Standard

The Event Of The Summer: JLN & FOW Present Trading Chicago For the first time in John J. Lothian & Co.’s history, we are partnering with FOW (Global Investor Group) to host our first Trading Chicago event on June 28th. This one-day event is aimed largely at the end-users of the markets: commodity trading advisors, asset managers, hedge funds and proprietary traders. The conference will cover the issues that impact those firms directly – regulation, technology and market structure, with an underlying thread of trading in an age of uncertainty. Of course, there is always uncertainty and this program aims…