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Michael Kraines Brings 25 Years of Strategy Experience as Trading Technologies’ New CFO Standard

It’s time for some strategic thinking. Trading Technologies has announced the hiring of its first ever chief financial officer, Michael Kraines. Kraines has been in the fintech business for more than 25 years. Though he knows technology, his background is “really very externally facing,” he said in an interview with JLN. His forte is putting people and companies together, and he hopes to add more partnerships, joint ventures and alliances to TT. “I’m a strategy guy and have a background looking at competitive positioning within the fintech sector. Over the months ahead, my goal is to look at the business…

Moving to real-time: Jerry Hanweck looks at trends in the options world Standard

Editor’s Note: For clarity, every reference to Hanweck regards the firm Jerry Hanweck founded, Hanweck. When referring to the individual after first reference, I simply use Jerry. Real-time risk management — it might not be sexy, but it’s wildly important. That’s the message from Jerry Hanweck, founder and CEO of Hanweck, a provider of risk management and options analytics tools. While real-time is a big focus for the firm, it is just one of many endeavors that Jerry and his team are working on. In a sit-down with JLN, he provided his thoughts on the difficulties presented by huge data…

The Case That Changed the Industry Standard

Back in 2005, I began covering a major development in the financial industry – patents. More specifically, I began covering the patent infringement cases by Trading Technologies against a number of firms including CQG.  That case, which lasted almost 12 years with appeals, is now essentially settled by the US Court of Appeals for the Federal Circuit, which affirmed the validity of TT’s patents, and essentially backed a lower court’s finding that CQG infringed on TT’s patents. The settlement awarded in the lower court was for $16 million.  TT’s patent litigation is well-known in the industry by now. But in…

The Most Popular Stories of 2016 on JohnLothianNews.com Standard

As we end 2016 we should all stop in at Ceres in the Chicago Board of Trade Building for a stiff drink and to shake the hand of Billy Assimos. He was the focus of the most read story on www.johnlothiannews.com in 2016, according to Google Analytics. Sarah Rudolph penned the story, “Billy Assimos, the Face of Ceres” in June of this year. Assimos is the longtime manager of Ceres, a restaurant and bar in the CBOT Building, and a friend of many. I guess it pays to serve the stiffest drinks in Chicago. Coming in second place was Jim…

Head East: TT’s Robbie McDonnell Sees Opportunity In Asia As Never Before Standard

It’s gonna be a good year after all for Asia’s markets. Robbie McDonnell, Trading Technologies’ executive vice president of global sales, who returned to Asia full time in recent months, said the region got a nice volume bump in November but the real growth is soon to come for a region that is implementing new technology, new partnerships and more ways to increase trading flows East to West. Let’s start with the numbers, as 2016 was shaping up to be a down year for Asian derivatives markets. The Asia-Pacific group of exchanges as a whole were down 8.6 percent over…

Should ION and FIS be worried? Standard

Just days after our column about Cinnober’s plans to move into the post-trade space with plans to take on legacy system giants, an upstart from Switzerland says it is ready, willing and able to do just that. And then there were two. Revendex, a consulting and IT firm based outside Zurich, says that its post-trade settlement system is ready to take on ION Trading’s Rolfe & Nolan system and FIS’s Stream (formerly GMI) platforms. Those two have dominated the post-trade space for decades, but Revendex executives say the systems are expensive, out of date and too slow. Revendex’s managing directors…

Gorbachev is Dead! Fake News is Nothing New To The Markets Standard

Courtesy of Wikipedia

Fake News Is Just Like a Game of Who Wants to be a Millionaire Fake news is nothing new. In fact, it is neither fake nor news. It is something called rumors. A rumor is just talk or opinion widely disseminated with no discernible source or a statement or report current without known authority for its truth. Sometimes it is true, sometimes it is not. Sometimes it was created by individuals to influence a market, sometimes it is just someone misinterpreting something they see. The markets have long dealt with rumors. That is part of the beauty of markets. They…

Blockchain That Makes Sense: How Post-Trade Digital Ledger Technology Will Make Banks And Brokers Happy Standard

When you talk about the potential for digital ledger technology, words like revolutionary and  transformative are often mentioned. Ray Kahn and Thorsten Peisl are not in the disruptor camp. Yet both left solid jobs in the financial markets and launched blockchain start-ups aimed at bringing new efficiencies to the marketplace. Their message about blockchain was clear at the World Federation of Exchanges annual meeting in Cartagena, Colombia this month. Yes, blockchain is coming. No, it’s not going to turn this industry upside down and replace all of the key functions of the transaction chain. But it will save lots of…

Next Man Up: Tom Sexton Takes The Reins At National Futures Association With An Eye On Technology and Swaps Regulation Standard

For the markets and market regulators, the industry is all about technology. Tom Sexton, who was named president and CEO of the National Futures Association (NFA) last week , said the organization is focused on upgrading its systems to keep up with the changing market landscape. Sexton, who has been at the NFA since 1991 and will take over for current CEO Dan Roth in March, spoke with John Lothian News about his new role and what’s next for the organization. “Some of our technology is old and some of our systems are 10-plus years or older,” Sexton said. Among…