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Category Archives: Politics

An overview of politics during an election year as it relates to the financial markets

How Do You Save the Capital Markets? Standard

Kennedy Looks to Lead Market Revamp Kevin Kennedy is my new hero. The senior vice president and head of equity options, on stage at the Options Industry Conference last week, spoke about taking the lead on a new initiative to change the existing financial and regulatory structure for financial markets. And he urged the other exchange executives from the other four major options markets to join him. In today’s political environment, it takes courage for someone to stand up and say they want to fix the financial markets so they stay the envy of world capital markets.  And there is…

My Picks for CFTC and SEC Commissioners Standard

Despite repeated inquiries to knowledgeable industry players, there is little buzz about prospective new CFTC and SEC Commissioners outside of the chairmen. So if there is no buzz, then let’s create some of our own in time for the FIA Boca Raton International Conference.  I am going to give you my top ten potential candidates for each commission in alphabetical order. That they are on the list does not mean they would be willing to serve, but it does mean I believe they are eminently qualified to serve. I am also going to share with you honorable mentions. These are others…

CFTC Commissioner Bowen Outlines Disruptive Derivatives Developments at Brodsky Family Lecture Standard

The fate of financial regulations, and specifically the Dodd-Frank Act, under the Trump administration is one of the biggest questions facing the industry and investors.  CFTC Commissioner Sharon Bowen addressed that question in a speech at the Northwestern University Pritzker School of Law last night as part of the Brodsky Family JD-MBA Lecture Series. Bowen earned her law degree at Northwestern’s Law School and is a strong supporter of the school. In addition to her role at the CFTC, she was also acting head of the Securities Investor Protection Corporation, chartered by Congress to help protect U.S. investors from brokerage…

The Black Swan – the new symbol of the United States of America Standard

  Yah baby, Yah! Dodd-Frank, gone. Clearing mandate, gone. Regulations, gone. Low interest rates, no problem. Volcker Rule, gone. Volatility, you bet. Bullish on the exchange sector, you bet. The American voters just unleashed the greatest gift on the world of trading we could have ever asked for. We will now have volatility at all times of the day and night. Binary contracts just became a big thing. Forget about market direction. You better learn to trade volatility. We just made the Black Swan the new symbol of the United State of America. Goodbye Eagle. You want some Twitter rants…

What Just Happened? Standard

Jim Kharouf

  It was after midnight and the realization that Donald Trump is going to be president of the United States stunned, saddened and angered me. This is what our great country has descended to – a nation of angry white people who voted more than the brown and black people. It’s quite simple really – more people loved Trump’s hate and BS than believed Hillary Clinton’s boring establishment BS. And so, here we are, on the precipice of all that is right with democracy and wrong with America. We’ll rationalize it by saying we are bigger than this president –…

John Lothian: U.S. Stock Exchanges to Overhaul Process for Reopening Trading After Halt; Virtu Never Loses (Well, Almost Never); Will LME consolidate or fragment London’s bullion market? Standard

  • By – 8.11.16
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First Read Bits & Pieces By John J. Lothian This morning we are running the video interview we did with David Lehman of the CME Group about the Live Cattle contract changes the CME is proposing. Pending CFTC approval, the new delivery specs will go into effect later this month. We are also releasing the video from Walt Lukken’s MarketsWiki Education World of Opportunity presentation in Chicago from July. He gave not one, but two great mini-presentations – the first half as an introduction to the industry and the current state, and the second half as a few career tips…

John Lothian: Whistleblowers Are Poised to Collect $100 Million; UK government bonds turn negative in historic rally; London Metal Exchange earnings drop as activity declines Standard

  • By – 8.10.16
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First Read MarketsWiki Education Video Update Yesterday we started on Day 2 of our MarketsWiki Education series from Chicago, and we started off with a bang. The usually low-key Jeff Levoff, partner at DRW gave a rousing and thoughtful presentation on the company’s philosophy, the role of proprietary traders and how that is changing. As this was a version of the talk he gives on college campuses across the nation, it was, shall we say, well received. Also, look below the video for a list of the presentations we have published thus far. We have a lot of fantastic presentations…

John Lothian: CFTC Announces Enhancements to Protect Customer Funds; London market to get new gold futures contracts; Bats Europe targets block trades ahead of Mifid II Standard

  • By – 8.9.16
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First Read Yes, Precious Doug Ashburn, JLN Sometimes the best ideas are worth waiting 139 years for. This morning the World Gold Council and the London Metal Exchange, together with a consortium of banks, announced a planned launch of LMEprecious, a new platform for spot, daily and monthly futures, options and calendar spread contracts for gold and silver, with platinum and palladium planned for down the road. This will mark the second attempt at a gold futures contract at the 139-year-old LME. The previous one, London Gold Futures Market, launched in 1982 and never really caught on. It was shuttered…

John Lothian: Trading Tech Accelerates Toward Speed of Light; PwC must face $1 billion MF Global malpractice lawsuit; Bitcoin Exchange to Spread Losses of Hack Standard

  • By – 8.8.16
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First Read Bits & Pieces By John J. Lothian Nick Notorangelo of Riskbone is a hero. He helped save a young man’s life last week after the 27-year old man had been shot in the neck during an apparent drug deal in the Lakeview neighborhood on Chicago’s north side. Here is the story. Nice work Nick! CME Group’s Trading Tech 300 merit badge program offering the law and technology merit badges was a big success. CME Group Chief Intellectual Property Counsel and merit badge instructor Matthew Kelly, and some associates, did a great job with the classes. It was a…