Breaking News

Tag Archives: Adena Friedman

Sincere Flattery and Competition Blog,Commentary,Exchanges, OTC & Clearing,Fintech,Investing & Trading

“Imitation is the sincerest form of flattery,” wrote English cleric and writer Charles Caleb Colton. The NYSE and Nasdaq have flattered each other plenty over the years as they competed globally in the exchange and OTC market space. It often seemed there was not a move NYSE made that Nasdaq did not try to match or top, and vice versa. The imitation here is not that NYSE matched Nasdaq by naming a woman, Stacey Cunningham, as head of the exchange to counter Nasdaq’s Adena Friedman. Rather, both exchanges chose the best qualified candidates for the role of president or CEO….

Chinese-backed bid for Chicago Stock Exchange hits a snag; Nasdaq seeks boost from bitcoin products; Clash Between Founder and Protégé Plunges Och-Ziff Into Crisis John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff The FIA’s volume release today revealed global futures and options volumes in 2017 were flat, with 25.1 billion contracts traded. Options volumes were up 11 percent and futures volumes slipped 6.6 percent. The top exchange by volume was CME Group with 4 billion contracts traded, up 3.7 percent from 2016, followed by the National Stock Exchange of India with 2.4 billion contacts, up 16.3 percent and the Intercontinental Exchange with 2.1 billion contracts (futures and equity options), up 4.3 percent. ~JK John Lothian News revamped its MiFID II page in Marketswiki. The page…

50 Cent Isn’t the Only One Seeking Big Protection in VIX Options; Markets Have Nothing Left to Fear But Fearlessness Itself; Factors make multi-asset shift Newsletter,Options

Lead Stories 50 Cent Isn’t the Only One Seeking Big Protection in VIX Options Luke Kawa – Bloomberg ’50 Cent’ has company in his quest to protect from market turmoil. Even as the CBOE Volatility Index sits at historically low levels below 10, an institutional investor on Monday bought 100,000 lots of July VIX call options with a strike price of 25. He paid 12 cents a pop. The same person simultaneously sold an equal amount of calls with a strike price of 30 for 7 cents each. The same day, the trader nicknamed 50 cent loaded up on protection…

JLN Exchange Leader Series 2017: Nasdaq’s Friedman on New Tech and Positive Momentum Feature,Video,video

Nasdaq opened a new chapter  in 2016 when 13-year-tenured CEO Bob Greifeld retired, handing the reins to longtime executive Adena Friedman. Friedman became CEO of the exchange group in November, but that was far from the only big move made by the company last year. There were three primary areas of strength for Nasdaq in 2016, the first being the development of its new generation of infrastructure technology, Nasdaq Financial Framework, which, among other functions, incorporates blockchain, machine learning and cloud services. The second strength was Nasdaq’s successful year of listings. It garnered 87 percent of the technology industry’s offerings…

Deutsche Bank walks away from US swaps clearing; Soc Gen sees fixed income trading boom; Crunch time for increasingly brittle London Metal Exchange John Lothian Newsletter,Newsletter

First Read Trump Preparing to Nominate Commodity Futures Trading Commission’s Giancarlo as Chair; The former brokerage executive is currently serving as acting chairman Andrew Ackerman – WSJ The Trump administration is preparing to nominate J. Christopher Giancarlo as chairman of the Commodity Futures Trading Commission, according to people familiar with the matter, elevating the former brokerage executive to the full-time head of the top U.S. derivatives regulator. /goo.gl/XFy2Wg ***** This would be a terrific outcome. Acting Chairman Giancarlo is widely respected and very knowledgeable. All we need now is some other commissioners. ++++ Nasdaq’s Black Belt CEO on IPOs, Unicorns,…

CME Group results helped by political change and Trump; Nasdaq’s New CEO Adena Friedman Has a Big Job: Reimagining the Stock Exchange; Deutsche Bank Set to Slash Equities, Fixed-Income Jobs John Lothian Newsletter,Newsletter

First Read Bits & Pieces From Washington By Jim Kharouf, JLN The farewell party for former CFTC Chairman Timothy Massad was well attended yesterday, with past commissioners, Mark Wetjen (now at DTCC) and Sharon Brown-Hruska (Trump landing team on derivatives) and former chairman Gary Gensler (still working out next move), in attendance, along with exchange executives and many others from the industry. Massad’s wife and two children were also there for the event, which brings us to the point here. Among the sizeable accomplishments achieved during Massad’s time at CFTC – I think of the international work completed under his…

Women Rising To The Top: Chitra Ramkrishna, Adena Friedman Take Top Roles In The Exchange Space Commentary,Exchanges, OTC & Clearing,Feature

There was another historic election this month, this one at the World Federation of Exchanges’ annual meeting in Cartagena, Colombia. The WFE elected the first female chair in its 56-year history. Chitra Ramkrishna, managing director and CEO of the National Stock Exchange of India, will serve as WFE chairperson for the next two years. She succeeds Juan Pablo Cordoba, CEO of the Bolsa de Valores de Colombia. She is also the first woman to head up an exchange in India, beginning in 2013, and has been a pioneer in helping develop India’s capital markets. Neither is a small feat. Ramkrishna…

Market Calm Back as Short-Term Volatility Falls Most Ever; OCC News; Post-Trump About-Face Triggers 2 Rare S&P Signals Newsletter,Options

Observations & Insight 2016 Could Be The Year Of The CEO By Jim Kharouf, JLN Editor-in-Chief Forget the Chinese New Year plunge, Brexit, The Donald or even the Cubs. This is also shaping up as the year of the new CEO, with exchanges and clearinghouses especially, in moves that could reshape our markets in the coming years. The two biggest CEO changes came within days of each other, with Terry Duffy taking the reins as CEO at CME Group from Phupinder Gill and Adena Friedman at Nasdaq, taking over from longtime CEO Robert Greifeld at the start of 2017. They…

Swaps industry balks at joining Trump in gutting Dodd-Frank; Nasdaq’s new chief has company blood running through her veins; Shake-up of fund managers proposed by UK regulator John Lothian Newsletter,Newsletter

First Read 2016 Could Be The Year Of The CEO By Jim Kharouf, JLN Editor-in-Chief Forget the Chinese New Year plunge, Brexit, The Donald or even the Cubs. This is also shaping up as the year of the new CEO, with exchanges and clearinghouses especially, in moves that could reshape our markets in the coming years. The two biggest CEO changes came within days of each other, with Terry Duffy taking the reins as CEO at CME Group from Phupinder Gill and Adena Friedman at Nasdaq, taking over from longtime CEO Robert Greifeld at the start of 2017. They are…