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Amazon and Google’s Cloud for Big Banks; Bold goals from Korean meeting John Lothian Newsletter,Newsletter

First Read Lessons From the “Not Guilty” Verdict in This Week’s Criminal Spoofing Trial Renato Mariotti Mariotti is a former federal prosecutor who spent almost 10 years investigating and prosecuting hundreds of cases in a wide variety of areas and is now a defense attorney. He is a former candidate for the Democratic nomination for Attorney General in Illinois. Wednesday’s stunning “not guilty” verdict in United States v. Andre Flotron, only the second spoofing case ever taken to trial, is a reminder that it is extremely difficult for prosecutors to prove a defendant’s intent beyond a reasonable doubt in the…

CME to buy NEX; White House Amazon Whiplash Adds to Tech Volatility Newsletter,Options

Observations & Insight Editor’s Notes There will not be a JLN Options newsletter tomorrow, as major U.S. and European markets will be closed for Good Friday. Japanese and Taiwanese exchanges will be open. An interesting development in ags via USA Today – U.S. soybean acres planted to exceed corn acreage for the first time in 35 years. Hope everyone has a great holiday weekend and enjoys the start of the MLB season. (I’ll refrain from baseball partisanship – there are some office schisms…) Lead Stories Exchange operator CME Group to buy Britain’s NEX for $5.5 billion Noor Zainab Hussain, Sinead…

Amazon is taking over the stock market, too; U.K. starts cryptocurrency inquiry; France clamps down on crypto John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff What do you call a computer that sings? Adele. H/T Alexa.~JJL LME is launching an Introduction to Physical Trading and Warehousing course in London this March.~JJL A tidbit from yesterday’s JLN Options newsletter – the CIO for the Hawaiian pension fund that got burned selling puts is no longer with the fund.~SD According to a study by Credit Suisse and the London Business School, rare books have a seven fold return since 1900. Meanwhile, classic cars have 242 fold returns. But how are my comic books doing?~SD Registration is now open for the…

The Concept of Basis – Gregg Doud Feature,MWEd,Video,video

“The beauty of this industry is, I don’t care how much artificial intelligence or how many algorithms you use, you’re still going to have to have somebody that understands where stuff is supplied, where it comes from and where it goes and the trade flows associated with it.” In this video from MarketsWiki Education’s World of Opportunity event in New York, Gregg Doud, president of the Commodity Markets Council, discussed the concept of basis and how it applies to the financial industry. According to Doud, basis is a fundamentally important concept in the world today. Doud also talked about Dodd-Frank…

The High-Speed Trading Behind Your Amazon Purchase; Traders used poker games and food menus to make a killing off illegal trades and cover it up but then AI found out; LSE shareholders: no need for board overhaul if tie-up tanks John Lothian Newsletter,Newsletter

First Read JLN Exchange Leader Series 2017: By Leveraging Bats’ Technology, CBOE’s Tilly Wants To Expand Footprint JohnLothianNews.com CBOE Holdings arguably had its biggest year in history in 2016 with the purchase of Bats Global Markets for $3.2 billion. The deal expanded CBOE’s footprint in the securities space in the US and in Europe, plus forex as well. It also provided a new technology platform to keep CBOE competitive. Read the rest and watch the video » ++++ CloudMargin gains traction: Remote processing and storage is here to stay in financial services Spencer Doar – JLN There is no more…

Nobel Laureate – Buffett’s WMDs Help Society; How air pollution on Wall Street might actually be bringing down the stock market; Commodity traders must go digital or face extinction – report Newsletter,Options

Observations & Insight Bits & Pieces JLN Staff The CME reported third quarter earnings this morning and a couple of items were worth noting. CME is making progress in its ongoing efforts to attract Asian customers. CME CEO Phupinder Gill told analysts that the region has been a strong contributor to CME’s metals and energy product groups. Volume in its natural gas options out of Asia rose 104 percent, and in metals, volumes from the region were up 44 percent. The other item worth mentioning is that the daily options volumes on CME’s Globex platform hit an all-time high in…

Hirander Misra, CEO GMEX – Exchange Innovation: The Need to Think Outside the Box Tech / HFT,Video

“The key to that is how technology is used. All too often in the exchange space, we’ve been doing the same thing we’ve essentially been doing for many many years and we haven’t really seen a change.” Hirander Misra, CEO of GMEX, compares the business model of Netflix and Blockbuster to the exchange space. Misra discusses how technology helped fuel the progress of Netflix and allowed it to overtake Blockbuster in movie rentals. He also touches on the dilemma innovators face in the exchange space due to new regulation, and how it causes disruptions for innovation. Misra says that the…