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Category Archives: John Lothian Newsletter

The John Lothian Newsletter provides news and commentary about the global exchange traded derivatives, securities, environmental and related OTC markets. The daily email intelligence briefing and companion blog are edited by and .

A new generation of anti-Americans; SEC judges appointment violated Constitution Standard

First Read Hits & Takes JLN Staff We have produced a promotional video for the Crypto Evolved event in New York on Wednesday at the New York Athletic Club. Trading Technologies’ Mike Unetich visited our offices to give the conference a plug. Please take a look and visit www.crypto-evolved.com for more details.~JJL FIA Operations Americas Division members are invited to enjoy food, drinks and an exciting game of baseball at the 18th Annual Summer Outing in Chicago. Join the Operations Americas Division for the Sox v. Yankees on 8/8. Get the details and register~JJL FIA Announces Fourth Annual Innovators Pavilion…

Broker sued over ‘demo’ trading platform mix-up; Deutsche Bank risk questions Standard

First Read Hits & Takes JLN Staff Rumi Morales will be announcing the launch of a major investment platform in the US on Wednesday, June 27.~JJL The 2018 Managed Futures Pinnacle Awards were last night in Chicago. Colin Jost from Saturday Night Live was the entertainment this year. He started by introducing well known “Irish Catholic” Sol Waksman. He later gave the CME Group a raunchy salute, probably for the political censorship by which he was confined, by sharing that he is a numbers guy. Enough said.~JJL For those concerned that ETFs with illiquid components will be the cause of…

Corporate America and the Border Policy; Cboe’s Year of Controversy; ECB’s Clearing Power Standard

First Read Chicago is Crypto-fuel For the Coinbase Rocket Jim Kharouf – JLN My meeting with Paul Bauerschmidt has been reset three times and he’s running a few minutes late for our coffee in Chicago. It’s understandable. Since taking the role as head of Coinbase’s Chicago office last October, it’s been non-stop for Bauerschmidt and his office of nine and soon to be more. He is on board with one of the fastest growing crypto exchanges in the world and thrilled with the ride after helping build Eris Exchange and CME’s swap business before that. In many ways, he’s one…

JPM’s $65m ISDAFIX fine; EU HFT rules; Blockchain for margin and collateral? Standard

First Read Hits & Takes JLN Staff The MontrÈal Exchange announced new futures on exchange-traded funds (ETF) and trust units are now available.~JJL The European Banking Authority released its 2017 annual report. A few of the key areas earmarked for extra focus in 2018 are: preparation for Basel III implementation, improving credit risk modelling, developing a common framework for non-performing loans, and third-country equivalence.~SD According to a recent study from FTSE Russell, “the green economy represents 6 percent of the market capitalization of global listed companies, approximately US$4 trillion.” That’s roughly the same as fossil fuels. ~SD Bank of Canada…

Bitcoin Could Break the Internet; Bigger volatility ‘accidents’ yet to come Standard

First Read Hits & Takes JLN Staff Clifford C. Histed, a partner of the law firm of K&L Gates, had two articles published by Law 360 on the recent spoofing case. Part 1 and Part 2 of Breaking Down The 2nd Criminal Spoofing Trial are available here.~JJL The J.P. Morgan Center for Commodities (JPMCC) Summer 2018 issue of the Global Commodities Applied Research Digest (GCARD) is out. ~JJL The video of two panels from the 2018 IDX has been posted to their website. The panels were Crypto A-Go-Go and Brexit – the Right Model for Financial Markets. ~JJL The evolving…

Wall Street wants more female traders; EU emerging as new markets sheriff Standard

First Read Hits & Takes JLN Staff A number of CME disciplinary notices hit the wire yesterday, most pertaining to violations of Rule 575.A. (Disruptive Practices Prohibited). One individual, another individual and a brokerage were penalized for spoofing-related activity (entering and canceling orders to get a fill on the other side or to determine depth of book). Another notice was for misreporting block trades. Lastly, there was a fine assessed to JPMorgan for a nat gas position limit violation. ~SD Eurex held a technology and regulatory update in Chicago yesterday. The room was full during the trading engine updates, less…

‘Speed Bumps’ Help Protect Investors – Study; Central Banking Action Standard

First Read Hits & Takes JLN Staff The last week of June is going to be busy. First, on June 25 I will be teaching the journalism and communications merit badges in Chicago as part of the Trading Tech 300 program, now branded under the bigger brand of Scout Tech. Then on Tuesday, June 26 I fly to New York for meetings and to be ready for the Crypto Evolved event on Wednesday, June 27 at the New York Athletic Club. My friends from Viable Markets have been gracious enough to ask me to moderate a panel on Silicon Valley…

Professor Who Rang VIX Alarm Says Tether Used to Boost Bitcoin Standard

bitcoin 100 bill

First Read Hits & Takes JLN Staff We have added Jaclyn Bouchard, senior manager, Global ESG Disclosure and Engagement at S&P Global, as a speaker at our MarketsWiki Education World of Opportunity series in New York. She will be speaking on July 9 at Thomson Reuters.~JJL The lineup for the New York series on July 9 at Thomson Reuters in Times Square is Cboe’s Bryan Christian, Reuters’ John McCrank, Citadel’s Allison Gott, Sullivan & Cromwell LLP’s Ken Raisler, BNP Paribas’ Amanda Rajkumar and S&P Global’s Jaclyn Bouchard The lineup for the New York series on July 11 at Nasdaq is…

Two big UK banks shift some euro clearing from London to Frankfurt Standard

First Read Hits & Takes JLN Staff Jim Kharouf has written a terrific piece for FIA’s MarketVoice titled “The Sun Finally Shines on Carbon Markets.”~JJL NFA has brought a complaint against Lee Stern‘s LBS Limited Partnership, an introducing broker, regarding deficiencies in their anti-money-laundering program.~JJL Women in Derivatives are holding an event in Washington, DC today from 5 to 8 PM, “Transforming Finance: The Impact of Emerging Technologies.” The keynote address is by CFTC Chairman Christopher Giancarlo.~JJL Register for the LME’s free forum in New York on 25 June and join panellists from Triland Metals Limited, Ferrometrics Partners LLC, Hartree…