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Category Archives: Financials

Financials news updates from John Lothian News.

FANG+ Puts the UMPH Back into the Markets and Exchange Competition Standard

Hallelujah! The magical power of innovation from exchange competition in Chicago is alive and well after a noticeable absence. The NYSE FANG+ index at ICE Futures US is the most innovative and timely new contract I have seen since the Cboe introduced the VIX. Besides the FANG+ contract, we have the expectation of the CME Group and Cboe slugging it out later this year with competing bitcoin futures offerings. Earlier this year we had the CME Group resteal the Russell index complex from ICE, returning the contracts to the CME where they were  in 2007. The FANG+ sprang from this exchange…

Tim Edwards, S&P Dow Jones Indices – The Relative Importance of Skill, Conviction and Blind Luck in Beating the Market Standard

“I believe that the next big trend in our industry is going to be far more customized, far more bespoke, and it’s all going to be available at low cost because of technology.” When Google was readying for its IPO in 2004, employees were given educational courses in finance and investing. Then senior vice president Jonathan Rosenberg was worried that Google employees — many soon to be minted millionaires — would be taken advantage of by all manner of asset managers and brokers. During the presentations, a series of notable figures all gave the same advice to Google employees, “don’t…

JLN Financials: Most big U.S. banks pass Fed’s stress test, boosting shareholder payouts; Banks warned over conflict of interest; Britain’s biggest banks called to BoE for ‘fireside chat’ Standard

First Impressions Big Newsletter ChangesStarting tomorrow, JLN Financials will no longer be published. Our flagship morning newsletter is getting a makeover — content that would usually be found in JLN Financials will now be included in the morning newsletter. Subscribers to JLN Financials will now get the morning newsletter instead (if they do not already subscribe). We hope you will enjoy the expanded coverage. If you do not wish to receive the morning newsletter in lieu of JLN Financials, simply unsubscribe by clicking the link at the end of the email. JLN Options will still be published daily. Have a…

JLN Financials: The Fed’s Done Hiking Until 2018; Hard-to-Sell Assets Complicate European Banks’ ‘Brexit’ Risks; Fed flags Morgan Stanley, Deutsche Bank, Santander, in stress testing Standard

First Impressions Stars Of The Next Generation Jim Kharouf John and Doug are in New York today drumming up support for our MarketsWiki Education series in the Big Apple on July 19. If you have not signed up your interns, or know of someone who would benefit from hearing the likes of Adena Friedman of Nasdaq, Jenny Knott of ICAP, Steve Gibson of Euclid Opportunities, Gary DeWaal of Katten, Bill Harts of the MMI, Kevin Wolf of Eris and Kenny Polcari of O’Neil Securities, then register here. Chicago’s series runs July 12, 14 & 15.   Quote of the Day…

JLN Financials: The Fed’s Done Hiking Until 2018; Hard-to-Sell Assets Complicate European Banks’ ‘Brexit’ Risks; Fed flags Morgan Stanley, Deutsche Bank, Santander, in stress testing Standard

First Impressions Stars Of The Next Generation Jim Kharouf John and Doug are in New York today drumming up support for our MarketsWiki Education series in the Big Apple on July 19. If you have not signed up your interns, or know of someone who would benefit from hearing the likes of Adena Friedman of Nasdaq, Jenny Knott of ICAP, Steve Gibson of Euclid Opportunities, Gary DeWaal of Katten, Bill Harts of the MMI, Kevin Wolf of Eris and Kenny Polcari of O’Neil Securities, then register here. Chicago’s series runs July 12, 14 & 15.   Quote of the Day…

JLN Financials: Bernanke on Brexit; Europe’s illusory ‘single capital market’; Brexit adds to existing troubles faced by banks Standard

First Impressions Telling the StoryJohn Lothian – John Lothian News We need you to tell a story and help us fill up our MarketsWiki Education World of Opportunity events in Chicago and New York. We love to tell stories. People in this industry are always telling stories about the markets. We replay the day’s trading with our fellow traders or friends. We tell strangers about the amazing things that happen in the markets. Everyone talks about some market event or action – even cab drivers sometimes, according to industry lore. Those events, that market action and happenings, and the stories,…

JLN Financials: Bernanke on Brexit; Europe’s illusory ‘single capital market’; Brexit adds to existing troubles faced by banks Standard

First Impressions Telling the StoryJohn Lothian – John Lothian News We need you to tell a story and help us fill up our MarketsWiki Education World of Opportunity events in Chicago and New York. We love to tell stories. People in this industry are always telling stories about the markets. We replay the day’s trading with our fellow traders or friends. We tell strangers about the amazing things that happen in the markets. Everyone talks about some market event or action – even cab drivers sometimes, according to industry lore. Those events, that market action and happenings, and the stories,…

JLN Financials: Brexit sparked biggest 1-day global stock rout ever; Odey and Soros make big wins on Brexit vote; S&P strips UK of last top-notch credit rating after Brexit vote Standard

First Impressions Good EveningBy John J. Lothian Good evening! I say that with all earnestness. Friday the world changed, or so it seemed. Brexit happened, markets fell and journalists went to work to cover this story from every conceivable angle. The newsletter below is an aggregation of that news. You will find only two stories on the LSE-Deutsche Boerse merger and the CME Group did something in Palm risk management. There are a few other non-Brexit stories, but they were hard to come by. Lots of rich people lost money, but so did poor people; they just don’t have as…

JLN Financials: How They Got It So Wrong. Complacent Traders Stunned by Brexit; Europe’s Leaders Urge Britain To Leave Bloc Quickly; S&P says Britain’s ‘AAA’ credit rating untenable after Brexit vote Standard

First Impressions Not-So-Slow News DayJLN Staff The world just took a step toward hell in a handbasket. Britain voted to leave the European Union, its Prime Minister, David Cameron, announced he will resign, and the markets everywhere are plunging, as is the British pound. “Leave” won 52 percent to 48 percent. Scotland, which voted overwhelmingly to stay in the EU, is talking about a referendum on independence from Britain. While we at JLN generally stick to market structure, technology, regulation and the “non-price-oriented” risks to one’s business, sometimes prices are the story, and the culmination of these other risks. So…