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Tag Archives: Bank of America

Advocating for a stronger U.S. options market; $60m bond trade; BofA to Become MiFID II Venue for Derivatives Newsletter,Options

Observations & Insight Bittrex Inc. takes controlling strategic stake in Seed opening new trading opportunities for Institutional Crypto Trading Seed CX Seed CX Ltd (“Seed”) today announced a strategic investment by Bittrex Inc., a US-based cryptocurrency trading platform. Seed is currently onboarding institutional participants and will launch spot and derivative crypto trading in Q1 2018. Bittrex is one of the largest crypto trading venues in the world, with over $3 billion notional traded on a daily basis and over 2 million customers. Seed operates a swap execution facility, Seed SEF, registered with the Commodity Futures Trading Commission. Edward Woodford, CEO…

U.S. pension funds sue big banks over stock lending; Henry Hub Emerges as Natural Gas Benchmark; SEC officials’ potential conflicts John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff The CBOE has informed us the speaker for the MarketsWiki Education Recruiting event for the CBOE will be Ed Tilly and/or Chris Concannon. So there you go.~JJL Our post yesterday on Asia Pacific Financial News is available HERE.~JJL It was a action packed week for the Trading Tech 300 program with NEX Group, Nuveen and Enova International offering merit badges to Chicago area Boy Scouts. The feedback from Scouts, parents and Scouting professionals has been terrific. One Scout said the NEX Group session was the “best of the best” of Trading Tech…

It’s time to brace for ‘market turmoil’, warns JPMorgan; Goldman Sachs’ pre-earnings options theory; BofA: “Central Banks Are Now In A Desperate Dilemma”…”Start Buying Volatility” Newsletter,Options

Observations & Insight Making the Johannesburg Stock Exchange a Global Player JohnLothianNews.com “The JSE, for eight years in a row now, was rated number one, two or three in the world by the World Economic Forum for the quality of financial market regulation.” The Johannesburg Stock Exchange is in the process of adjusting much of its infrastructure. It already transitioned from T+5 settlement to T+3 settlement (with no failed trades thus far); the derivatives trading technology is being replatformed; Cinnober is supplying a new clearing system that will be live at the start of 2018; and London Stock Exchange Group’s…

The VIX Snoozefest Kept Rolling in May; ETH Option Volume Continues to Grow; Stock market’s low volatility and low yields are crushing Goldman, J.P. Morgan and the banking sector Newsletter,Options

Observations & Insight Getting Animated About Trading Chicago JLN If you haven’t signed up for the FOW-JLN conference Trading Chicago on June 28th, it is a solid program worth checking out. Speakers this year include the Streetwise Professor Craig Pirrong, Leslie Sutphen and Gary DeWaal debating Dodd-Frank, Fidessa’s Steve Grob, Chris Hehmeyer and Joshua Yang talking about our markets in an age of populism with Carl Gilmore. Other notables include Jay Feuerstein of Budo Group, Richard Mackey of Rosenthal Global Securities and Tim Gits of Eurex and Chris Anderson of Itiviti talking about opportunities in the red hot interest rate…

In rare fumble, Goldman stuns Wall Street with weak trading; Markets Start to Ponder the $13 Trillion Gorilla in the Room; Goldman, BofA Cash In on a Leveraged-Loan Frenzy Like No Other John Lothian Newsletter,Newsletter

First Read Steve Ballmer Serves Up a Fascinating Data Trove Andrew Ross Sorkin- NY Times On Tuesday, Mr. Ballmer plans to make public a database and a report that he and a small army of economists, professors and other professionals have been assembling as part of a stealth start-up over the last three years called USAFacts. The database is perhaps the first nonpartisan effort to create a fully integrated look at revenue and spending across federal, state and local governments. jlne.ws/2oSwXT9 ****JB: It is a pretty slick website. Although there are still gaps to be finished it is well worth…

CHX: Ownership Matters Blog,Commentary,Feature

Chicago Stock Exchange Seeks Transformation in New Owners and Trading Processes With over 50 venues in the U.S. to execute trading of shares of stock, the Chicago Stock Exchange (“CHX”) unfortunately only stands out for its being overlooked. Its management seeks to change that with an ownership overhaul, trading technology process innovations and a push back into listings that could attract Chinese companies, among others. Like a little brother who gets forgotten in a big family, CHX is fighting for attention with its plans. Many of its current owners have stakes in other trading venues that bring higher margins to…

John Lothian Newsletter: IEX Debate Escalates With Public Knock to NYSE’s Systems; CME Takes Action to Curb Price Volatility in Cattle Futures; Millennials Are Starting to Change the Stock Market John Lothian Newsletter,Newsletter

First Read Goodbye SFOA, Hello ICDA Jim Kharouf – JLN Adapt or die is a well understood maxim in this industry. And so that’s been embraced by Dan Day-Robinson, the chairman and change merchant for the new International Commodities and Derivatives Association. It was and probably will be better known for some time as the former Swiss Futures & Options Association. I first started attending the SFOA’s big conference in 1998, when the SFOA Burgenstock conference was really something not to be missed. Located atop a classic resort overlooking Lake Lucerne, it was an event attended by the CEOs of…

John Lothian Newsletter: Nasdaq NFX eyes 10% share of energy market ;Community Building: CME Europe’s Cees Vermaas Looks To Grow Asset Classes and Customer Base; Euronext wins Dutch court ruling over intellectual property John Lothian Newsletter,Newsletter

First Read Bits & PiecesDoug Ashburn – JLN Our friends at Clarus Financial Technology have teamed up with CME Group and ICAP for a one hour seminar this morning to explain the LCH-CME Basis Swap, the latest solution to an emerging market structure issue. Clarus’ Tod Skarecky, who has been following this issue closely and blogging about it, joins CME Group‘s Sean Tully and ICAP SEF CEO Laurent Paulhac to give the back story, and explain the LCH-CME Basis Swap and CME’s new Swap Curve. Information and registration HERE Long-time policy advisor to the futures industry Micah Green has moved…

John Lothian Newsletter: Virtu seeks valuation of $2.59 billion; Bank of America accused of ‘tarnishing’ Merrill Lynch; Accused Goldman Code Thief Takes On Vance After Defeating U.S. John Lothian Newsletter,Newsletter

First Read Connecting: HKEx’s Li Said It Will Help Connect To China’s Trillions JohnLothianNews.com Hong Kong Exchanges and Clearing is all about connecting. HKEx’s CEO Charles Li says his exchange is the linchpin that connects mainland China’s markets with the rest of the world. Li, who spoke with John Lothian News editor-in-chief Jim Kharouf at the FIA Boca conference, said his exchange is about strategic positioning with China and taking advantage of the explosive growth it sees, especially with the London Metal Exchange firmly integrated into its business. “Our job is to find a way to make that connection,” Li…