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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 .

The 30 minutes that have an outsized role in US stock trading Standard

First Read Hits & Takes JLN Staff Two noteworthy items about the two firms bidding for Fidessa. ION and rival bidder SS&C Technologies both claim the Carlyle Group or affiliates as investors. Both companies have grown dramatically via acquisition. SS&C has made dozens of deals – the latest a $5.4 billion purchase of DST Systems. Privately-held ION has made nine acquisitions since 2008 and has a bid of $2.09 billion for Fidessa.~JK CBOE Chairman & CEO Ed Tilly and President Chris Concannon sent a customer letter about VIX pricing and recent erroneous claims in academic paper.~JJL Category: So I got…

A Former Top Wall Street Regulator Turns to the Blockchain Standard

First Read Hits & Takes JLN Staff JLN Readers interested in the Crypto Evolved event in New York on June 27 from Viable Markets may receive a 10% discount when they register using THIS LINK  before April 30th. Limit of 50 tickets at that price.~JJL The SEC tracks the number of cyber actions it has taken since 2012. To date, it has opened 15 digital currency/ICO cases, 13 trading suspension cases, 4 hacking/insider trading cases, 4 market manipulation cases, 3 account intrusion cases and 2 customer information safeguard cases.~JK Business Insider reported “Being outside can improve memory, fight depression, and…

UK regulators to fine Barclays chief; Deutsche Bank’s flub; Wells Fargo $1b fine Standard

First Read Hits & Takes JLN Staff The story of my being awarded the Silver Beaver Award by the Boy Scouts was reported in the Elmhurst Patch, posted by my friend and fellow scouter John Fabry.~JJL The Magnetar Youth Investment Academy held The Night Out for Financial Literacy fundraiser last evening in Chicago. The academy has served more than 14,000 students at 70 schools in the Chicago area. Chance The Rapper spoke with Magnetar Capital’s founder and CEO Alec Litowitz. When asked what he would have invested in when he was 17 years old, Chance replied that he didn’t have…

New SEC broker-dealer rule proposal; Challengers to Libor; VIX-rigging? Standard

First Read Hits & Takes JLN Staff Cboe Global Markets announced the settlement of its April expiry bitcoin futures, the fourth contract settlement conducted since the product’s launch on December 10, 2017. The settlement price was $8,055.68.~SR Quote of the day: “I quite understand at the end of the day everybody evolves and changes. China was a developing market that has developed in part because they needed to — they had an economy based on export at all costs…when you have to grow at 10 percent because you have to accommodate a population moving from villages to cities — and…

NY Pushes Crypto Exchanges for Transparency; ICE’s SONIA Futures; Nasdaq’s Nordic Shutdown Standard

First Read Hits & Takes JLN Staff Barbara Bush, matriarch of a U.S. political clan, has died at the age of 92. Mrs. Bush was once the featured speaker at a lunch at FIA’s Boca Raton conference. At the lunch there were fake pearl necklaces at the tables for the women to take home. She said, “Girls always wear your pearls.”~JJL That lunch at Boca featuring Barbara Bush was sponsored by Peregrine Financial Group and Russ Wasendorf Sr., which probably means customer money bought the lunch.~JJL Holly Duran Real Estate Partners, a firm that serves the financial markets, moved its…

Kraken Pulls Out of Japan; Attorney Berkovitz to CFTC; Russia blamed for global cyber attack Standard

First Read Hits & Takes JLN Staff A JLN Special: The 4th annual FinTech Exchange hosted by Barchart on April 25 & 26 in Chicago is giving away 10 tickets to the event, hosted at Venue SIX10 at 610 South Michigan Avenue. This year’s event will showcase presentations from fintech leaders on alternative data, trading innovation, blockchain in capital markets and cryptocurrencies. Hear from the bitcoin exchange Kraken, CME Group, Cboe Global Markets, AFX’s Richard Sandor and many more. This year’s event also features a new, half-day competition on April 25 called Startup Exchange, featuring fast presentations from 16 startupsóincluding…

CME Record International ADV; Martin Act Opposition; Nasdaq Completes Media/PR Sale Standard

First Read Hits & Takes JLN Staff Congratulations to the World Federation of Exchanges on its IOMA Clearing & Derivatives Conference, concluded on Friday. The event, as usual, attracted exchange, clearing and market infrastructure from several continents and was well focused on the challenges and issues facing global CCPs. Nicely done.~JK Ankur Kamalia, managing director, head of group venture portfolio management & DB1 Ventures at Deutsche Bˆrse said at the WFE IOMA conference that his group has met with 750 fintech firms over the past three years and invested in just seven. Among those is Digital Asset Holdings.~JK Interesting tidbit…

LSE Hires Goldman’s Schwimmer as CEO, Ending Long Search Standard

LSE London Stock Exchange

First Read Hits & Takes JLN Staff The London Stock Exchange Group has appointed the American Goldman Sachs banker David Schwimmer as chief executive officer.~JJL The World Federation of Exchanges’ IOMA Conference 2018 in Chicago is the organization’s 35th such event, with exchanges, clearinghouses and market participants from around the world attending. OCC is the event host. Yesterday’s sessions included a panel hosted by JLN’s Jim Kharouf on Brexit, which featured Judith Hardt, from the Swiss Finance Council, Stephen Fischer from Blackrock and Erik Müller of Eurex Clearing. Erik seemed the most happy about Brexit. Judith was neutral.~JK OCC CEO…

How a volatility virus infected Wall Street Standard

virus

First Read Hits & Takes JLN Staff At yesterday’s IFM Smart Financial Regulation Roundtable: Implications of Cryptocurrencies in Washington DC, Rostin Behnam, commissioner, Commodity Futures Trading Commission, was asked if he could change one thing about the crypto markets what would it be? He said it would be regulation of the cash crypto markets, although not necessarily by the CFTC.~JK Also, Angela Walch, associate professor, St. Mary’s University School of Law made one of the more stunning comments about the crypto markets, which she said feature several powerful so-called miners, dispelling the notion that these markets are decentralized and uncontrolled…