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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 .

Deutsche Börse launches joint blockchain collateral project; Digital Asset’s New Challenger: DLT Disillusionment; The CEO of the world’s largest hedge fund says populism is now No. 1 market concern Standard

First Read Dodd-Frank in Crosshairs as Law’s Opponents Take Power; About 80% of rules mandated by 2010 law have been drafted or finalized. What happens next? By RYAN TRACY – WSJ The Dodd-Frank financial overhaul is one of the longest and most complex laws in U.S. history, spurring hundreds of new rules affecting every corner of the financial system. For six years, it has reshaped the market for everything from ATM cards to credit-default swaps. /goo.gl/D37bzE **JK: What will cost more, repeal or keep? ++++ Bankers in Davos See Trump’s Team Making Wall Street Great Again by Michael J Moore…

Bats Global Markets Announces Stockholder Approval Of Merger Agreement With CBOE Holdings; Departing SEC Chair Mary Jo White Blasts Congress on Her Way Out the Door; HSBC CEO Says Bankers Generating 20% of London Revenue May Move Standard

First Read Hungry for more: Dash Financial Sees Opportunity In A New Broker Landscape Jim Kharouf, JLN For some firms today, being young has its advantages. Dash Financial might just be one of those young and agile companies that can take advantage of the currents that are pushing and pulling the industry. Later this quarter Dash is expected to complete its acquisition of LiquidPoint, Convergex’s options brokerage and technology business, thus giving the combined firm 13 percent of the equity options and index options market volume. That’s more than double the current marketshare Dash Financial has quickly built since it…

Citadel Securities agrees $22.6m settlement with SEC; BSE sets initial public offering at Rs 805-806 band; LSE dismisses report on moving clearing to Germany Standard

First Read DTCC hires former regulator for trade repository compliance; Derek West will join the DTCC with responsibility for compliance at its Global Trade Repository. By Paul Walsh – The Trade The Depository Trust and Clearing Corporation (DTCC) has appointed Derek West as chief compliance officer for its European Global Trade Repository (GTR) business. /goo.gl/NWuUof **JK: He’s a Chicagoan turned Canadian turned European Global Trade Repository officer. I’m confused. ++++ Trump’s tweets could offer investors an opportunity; President-elect has made mining social media for market-moving sentiment essential by: Nicole Bullock – FT Tweets from Donald Trump about “out of control…

Sterling ‘Flash Crash’ Was Caused by Myriad Factors, BIS Says; Formula for Trading on Trump Tweets Eludes Wall Street’s Best and Brightest; Transparency lessons for Washington from Wall Street Standard

First Read ICE Moves JLN Staff The Intercontinental Exchange announced the hiring of Raymond Kahn, who will focus on ICE’s Interest Rates business. Prior to joining ICE, Kahn had his own firm, Archon Capital Advisors, with a focus on the use of blockchain technology in the post-trade and settlement space. (You can see our article here.) Before that, Kahn managed Barclay’s OTC clearing platform from its inception, as well as the FCM. This is a great hire for ICE. The exchange also re-hired Brookly McLaughlin as senior director, marketing and public affairs. Some solid and interesting moves by ICE so…

NYSE to expand floor trading as part of integrated dealing system; U.K. Bankers Drop Push to Keep EU ‘Passporting’ After Brexit; When Bad Things Happen to Good Funds Standard

First Read Bits & Pieces By JLN Staff Brookly McLaughlin has rejoined Intercontinental Exchange as senior director, marketing and public affairs, giving ICE more political punch. She returns after a little more than a year at Magnetar Capital. McLaughlin originally came to ICE in the CCX deal. She was the communications director for the Chicago Climate Exchange before it was acquired by ICE. She also previously worked for the U.S. Treasury Department under Hank Paulson. Jeff Sprecher, Richard Sandor and Hank Paulson are some pretty good bosses to have. The Security Traders Association of Chicago is in day two of…

NYSE MKT to end floor trading for small stocks; US regulator warns on tough UK and EU derivatives battle; Wall Street’s Most Famous Quants Fed Up With JPMorgan Soothsayer Standard

First Read The Why Jim Kharouf, JLN Simon Sinek said in his TED Talk that “People don’t buy what you do; they buy why you do it. And what you do simply proves what you believe.” What we do is produce a financial newsletter and websites that are dedicated to enlighten, inform and educate you on what is happening in this industry. We do it because we believe that more informed readers make for better markets, everywhere. Better markets make all our lives better. That’s simply the what and why for John Lothian News. We believe in this so much…

IBM Partners With Wall Street to Bring Blockchain to CDS Market ; India International Exchange To Go Live On January 16 With New ‘Sensex 50’ Index; FX ‘Cartel’ Traders Said to Face U.S. Rigging Charges Standard

First Read The tasty nation adds an entree, tastyworks: Tom Sosnoff and the tastytrade crew are “going to murder passive investing” Spencer Doar – JLN Editor’s note: This story contains language that some readers might find offensive. Also, the subject matter contains a plethora of non-capitalized proper nouns, which are the actual names of the firms. The team behind retail brokerage thinkorswim, and more recently the financial news network tastytrade, is once again hoping to take the retail broking industry by storm with the opening of their new brokerage, tastyworks. Launched on January 3, the low-commission offering is the next…

BoE told to firm up oversight of clearing and other support; Biggest banks each set to be hit with $200m trading rule costs; Smaller companies fear threat from new financial regulation Standard

First Read New CEO, Updated Offices By John J. Lothian, Executive Chairman Today is the first day in the reign of Jim Kharouf as king….err… CEO of John J. Lothian & Company, Inc. He takes command in our newly updated offices in the CBOT Building, which are not quite done yet. Friday we learned we had an unresolved heating and air conditioning situation that needed to be resolved. We will begin to move in the office this afternoon and hope the work is done by tomorrow. In the new game of thrones, Jim will now sit on the iron hot…

Corzine Agrees to Futures Industry Ban in CFTC Settlement; Hyperledger Blockchain Project Announces ‘Technical Working Group China’ Following Strong Interest; LCH sees record swaps clearing activity in 2016 Standard

MF Global

First Read The End Of The Line Jim Kharouf, JLN So it appears this is the end of the line for Jon Corzine, the disgraced former head of MF Global, the man who essentially brought down the firm with lousy trades on European debt markets, helped cripple the futures industry and tarnished its once iron clad guarantee on customer funds. The firm dipped into customer segregated funds, something Corzine has long denied knowing, and left the collapsed firms’ customers wondering what happened to more than $1 billion of their money. The CFTC settled its case with Corzine yesterday, as the…