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John Lothian Newsletter: Markets play chicken with Fed over rates; BoE warns of ‘more intrusive’ regulation; Euronext brushes off concerns about EU wheat futures competition John Lothian Newsletter,Newsletter

First Read New Rules: NFA’s Dan Roth on Confirmations, Residual Interest and the Corzine Rule JohnLothianNews.com After the twin scandals of MF Global and Peregrine Financial rocked the futures industry in 2011 and 2012, the National Futures Association, underwent a review, not only of its internal procedures, but also of its rules. In Part Two of this two-part John Lothian News exclusive, NFA CEO Dan Roth summarizes the changes made to the agency’s rules to restore customer confidence. Watch the video » ++++ BATS Global Markets Names Chris Concannon CEO, Joe Ratterman becomes Chairman BATS BATS Global Markets (BATS), a…

John Lothian Newsletter: Australian exchange launches technology overhaul; CFTC Reviews Retail Forex-Trading Rules Following FXCM Debacle; Global Oil Layoffs Exceed 100,000 John Lothian Newsletter,Newsletter

First Read Bubble Talk: Jose Scheinkman and the CME Group-MSRI Innovation Award Seminar JohnLothianNews.com On Monday morning, February 9, 2015, the CME Group-MSRI Prize in Innovative Quantitative Applications was awarded to Jose Scheinkman, economics professor at Columbia and Princeton Universities and one of the world’s leading experts on financial modeling. Since much of his recent work is centered on friction in the financial markets, Monday’s award ceremony was preceded by a seminar titled “Bubbles in the Markets: Why Do They Form, When Do They Burst?” At the conclusion of the ceremony, Prof. Scheinkman sat down with John Lothian News editor-at-large…

John Lothian Newsletter: Hedge Funds Keep Winning Despite Losing; Bank of England’s Carney urges ‘big push’ on bank rules; John Whitehead, Ex-Chairman Who Helped Define Goldman Culture, Dies at 92 John Lothian Newsletter,Newsletter

First Read Making A Call Around the Pits by John J. Lothian It seems like a lifetime ago, when I used to publish daily statistics in this newsletter about the percentage of open outcry trading versus electronic trading at the CBOT and CME. It was a fun daily exercise, especially when the CBOT was taking on the NYMEX/COMEX for the gold and silver contracts. By that time, some 10 years ago, the statistics of electronic trading on the bonds or financial futures as a percentage the total volume were well over 90 percent electronic. So what took so long closing…

JLN Financials: Bank Of America Says Fed Needs To Test Interest On Reserves Power; The ECB’s second funding offer: Thanks but no thanks; Russia hikes interest rates; Greek euro fears hit markets again Financials,Newsletter

First Impressions Pipelines: Nick Solinger talks market infrastructure for SEFs JohnLothianNews.com It’s been a historic year for swap execution facilities as more were launched in the wake of Dodd-Frank rulemaking by the Commodity Futures Trading Commission. Nick Solinger, head of product strategy and chief marketing officer of Traiana, said that its been a good year for firms getting connected to SEFs and for SEFs getting off the ground. The firm connected 16 FCMs to 16 SEFs with six more on the way. “The typical FCM has been able to clear, three, four, five, six different venues with that one connection…

John Lothian Newsletter: State Street set to begin trading futures for rival institutions; BOE Suspends Staff Member in Forex Probe; GBP75 Trillion Payment Systems Industry To Have New Regulator John Lothian Newsletter,Newsletter

First Read The Snow Takes Its Toll John and many thousands of others are taking their time on the way to work today, enjoying the delightful new snow and expressing their gratitude at having been chosen to receive another generous helping of the stuff. He’ll return tomorrow for commentary; meanwhile, ***JM will throw in a few today to brighten your day even further. ++++ CME Group’s turn to move into Asian commodities markets Chiara Milioulis – Medill Reports Chicago It’s now the “Merc’s” turn to make a move. CME Group Inc., locked in a race to extend its global footprint…

JLN Financials: Hair of the dog risks a bigger hangover for Britain; The Treasury power play; Stock funds worldwide attract $11.5 bln after record outflow Financials,Newsletter

First Impressions Readers of JLN Financials who also receive the John Lothian Newsletter have already heard about our new market education initiatives, specifically the intern series we hosted last summer. We are now rolling out the video from those events. Today we published a two-part video talk by futures industry ambassador Leo Melamed. Please watch part one below. Leo Melamed’s History of Chicago Markets (Part 1) Leo Melamed, Chairman Emeritus at CME Group, gives a detailed history of Chicago’s financial industry. In Part One of his presentation, Melamed highlights his meeting with former Chicago Mayor Richard J. Daley. While discussing…

John Lothian Newsletter: ICE warns of trading flight away from Europe; Bank of England to Investigate FX Manipulation Claims; Deutsche Börse buys minority stake in Bondcube John Lothian Newsletter,Newsletter

First Read Repository Story: Jonathan Thursby Discusses CME Group’s SDR Services JohnLothianNews.com The Dodd-Frank Act in the U.S. and EMIR in Europe introduced new data reporting requirements. Exchanges like CME Group have long been experts in processing and disseminating data to market participants. But regulatory reporting of swap data brings its own challenges. John Lothian News Editor-at-Large Doug Ashburn spoke with Jonathan Thursby, executive director and chief operating officer of data repository services at CME Group, about its repositories in the U.S. and Europe, and their philosophy and approach to repository services. Watch the video » ++++ Help The Jennifer…

John Lothian Newsletter: Commodities traders take aim at rule to limit speculation; EU rules to light up derivatives markets set for shaky start; BOE Told About Foreign-Exchange Behavior, Trader Says John Lothian Newsletter,Newsletter

First Read Monster Volumes: Jon Najarian Says Weeklys Are Powering Options Volumes JohnLothianNews.com US options volume reached its second highest level in 2013 but can it continue to grow in 2014? Jon Najarian, co-founder of OptionMONSTER said the key drivers for the options industry are: weekly options, a strong economic recovery and continued demand for more options education. “The two biggest things driving volumes in options, or at least holding them, are weekly options,” said Najarian, who is also a regular contributor on the markets for CNBC. “As we get more weekly options, there is more turnover because of course…

JLN Financials: I.M.F. Shifts Its Approach to Bailouts; Firms Take Advantage of China’s Murky Interbank Market; Surfing central banks in a benign ‘QE trap’ Financials,Newsletter

First Impressions Gone Tomorrow, Here Again After Jon Matte In honor of the US holiday on Thursday (“Premature Shopping Day” – or, as it used to be called, “Thanksgiving Day”), John Lothian News will be closed, and that means no newsletters. But never fear, on Friday JLN, JLN Financials and JLN Options will be back in action. Meantime, to those of you who have a day off, our best wishes for the holiday! Quote of the Day It doesn’t feel entirely right. Bank of England Governor Mark Carney on the weak investment statistics released by Britain’s Office for National Statistics,…