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NFX Basis Point Value Contracts; One quarter hubris, three quarters details Standard

The hubris is mine, not Nasdaq’s. Over 20 years ago I came up with the idea for an innovative new futures contract that would improve hedging and engage speculators in new ways in fixed income trading. The idea was basis point value futures. Today, Nasdaq announced just that: a new U.S. Treasury futures product that builds on their cash Treasury market and allows customers to use “the dollar value of one basis point” to more accurately hedge a portfolio of cash Treasurys. The proper name of the contracts is: U.S. DV01 TREASURY FUTURES. I have shared this idea with many…

Crypto Markets News from John Lothian News – May 17, 2018 Standard

crypto markets update 2

SEC Tries to Scam ICO Investors to Show Them How Easy It Is Matt Robinson – Bloomberg Agency sets up a fake ICO to warn investors about the risks; Regulator has repeatedly warned investors of fraud in ICOs A hot new initial coin offering gives investors the chance of a lifetime to make money from sun-soaked beaches and crystal-clear waters. It also provides something even more valuable: advice on how to avoid getting ripped off by fraudulent ICOs. /jlne.ws/2InVoCL Devvio Blockchain First to Surpass Millions of Transactions per Second The Merkle Devvio, a pioneer in blockchain protocols (https://devv.io), today announced…

Crypto Markets News from John Lothian News – May 16, 2018 Standard

crypto markets update 2

  Notes from Consensus 2018 – Day 2 By Chuck Mackie – JLN As expected, Day 2 of Coindesk’s Consensus conference lacked some of the energy and fireworks of the first day but it did manage to defy what seems to be a law of nature: fewer people in attendance at the second day of an industry event when compared to the first. In this case, Coindesk announced that total registration ticked up to over 8,500 and it was definitely harder to fight the lines for lunch on the second day compared to the first. Somehow I survived. Beyond that,…

Crypto Markets News from John Lothian News – May 15, 2018 Standard

crypto markets update 2

Notes from Day One at Consensus By Chuck Mackie – JLN If you had any doubts about the swelling surge of interest in cryptoassets, you only had to try and check in to [[https://www.coindesk.com/|Coindesk’s]] [[https://www.coindesk.com/events/consensus-2018/|Consensus conference]] in midtown Manhattan around mid-morning on Monday. The line snaked its way back and forth through the 2nd floor lobby, down the escalator and out of the front door of the hotel, and it took up to two-and-a-half hours for the reported 7,700 attendees to check in for the event. Consensus began four years ago with 500 true believers in attendance, grew to 1,500…

JLN Interviews Renato Mariotti, Democratic Candidate for Attorney General Standard

Democratic Attorney General candidate Renato Mariotti stopped by the John Lothian News offices in the Chicago Board of Trade Building on Tuesday, March 6 for a sit down video interview. He has been a John Lothian Newsletter reader since 2012, and he used the market and industry knowledge he gained from reading the newsletter to bolster his success as a federal prosecutor. Mariotti is a former prosecutor in the US Attorney’s office in Illinois who is seeking election to a public office for the first time and is trying to replace Democratic insider Lisa Madigan. I endorsed Mariotti in JLN…

Renato Mariotti for Illinois Attorney General: A Former Prosecutor and Current JLN Reader Standard

A Former Prosecutor and Current JLN Reader Is The Best Choice For Illinois AG Democratic Attorney General candidate  Renato Mariotti stopped by the John Lothian News offices in the Chicago Board of Trade Building on Tuesday, March 6 for a sit down video interview. He has been a John Lothian Newsletter reader since 2012, and he used the market and industry knowledge he gained from reading the newsletter to bolster his success as a federal prosecutor. Mariotti is a former prosecutor in the US Attorney’s office in Illinois who is seeking election to a public office for the first time and…

Asia Pacific Financial News from John Lothian – December 5, 2017 Standard

Lead Stories Trump’s Tax Plan Triggers Ire From China to the EU By Mark Deen , Birgit Jennen , and Viktoria Dendrinou – Bloomberg European Union finance ministers to review U.S. legislation Concern that tax cut could violate global trade, tax rules As legislators in Washington work to get the most sweeping rewrite of the U.S. tax code in three decades, regions including the European Union and China are expressing their concern that the bill may not comply with international rules and frustration about the effect it may have on local markets. https://goo.gl/2dx6Ee Tokyo Financial Exchange Takes First Step Toward…

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…

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…