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Tag Archives: Basel III

Investors seek cover as trade battles rattle world markets Newsletter,Options

war cover

Observations & Insight The Spread – Week of 6/25 to 6/29 JohnLothianNews.com Looking for something to take your mind off of the summer heat? Well, we have a GEM of a “Spread” for you. (Yes, we talk about Geneva Energy Markets this week.) Watch the video and see the stories referenced here » ++++++ AI is changing this industry. Now what? Jim Kharouf – JLN I spent last week listening to experts in artificial intelligence talk about what AI can and will bring to the markets and the broader world. What is patently clear is that AI is here now…

Basel III sparks trader retreat from listed derivatives John Lothian Newsletter,Newsletter

First Read AI is changing this industry. Now what? Jim Kharouf – JLN I spent last week listening to experts in artificial intelligence talk about what AI can and will bring to the markets and the broader world. What is patently clear is that AI is here now and is only going to expand. As Jay Biondo, product manager, surveillance at Trading Technologies told me, it’s everywhere already – from Amazon’s Echo (usually called Alexa) to Netflix’s suggested picks. It’s part of Charles Schwab’s brokerage service which will allow its brokers to service thousands instead of hundreds of customers, according…

Volatility – An intellectual virus, a bubble, or both?; Huge Brazilian FX trade Newsletter,Options

Observations & Insight Lessons From the “Not Guilty” Verdict in This Week’s Criminal Spoofing Trial Renato Mariotti, former federal prosecutor – JLN 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 absence of direct evidence. We should expect the DOJ and CFTC to reevaluate their charging practices in the wake of this significant defense victory. /goo.gl/KtzVVV ****SD: A related (subscription) article from Global Investor Group – Spoofing easier…

The Pound’s Brexit Test; FX Flash Crashes; Basel Rules Newsletter,Options

Observations & Insight Sunday, Sunday, Sunday Spencer Doar – JLN My fantasy football team was bad this year. The Detroit Lions in 2008 bad. I went 0-13. A mathematically inclined friend in the same league ran the numbers – not sure of the specifics, but he used ESPN’s point predictions versus actual performance – and his calculations showed that my abhorrent results were nearly three standard deviations outside the norm. I would not have found this nearly as amusing before I started covering the options space and following earnings seasons. Bottom line, that frees up some of Sunday night. Good…

Stock Returns and Politics = Not Normal; VIX The Tail Wagging The Dog?; Euro Pressured as Volatility Rises Newsletter,Options

Lead Stories Stock Returns, Like Politics, Are Not Normal; There are two primary reasons for the protracted decline in both implied and realized volatility. Dean Curnutt – Bloomberg Perhaps no consensus opinion has proven more incorrect than the notion that a Donald Trump presidency would lead to more market volatility. So range-bound has been the S&P 500 Index in 2017 that fully 60 percent of the days have produced a daily upside or downside return of less than 0.25 percentage point. /bloom.bg/2wqU4c9 ****SD: From WSJ – Investors Grapple With Signs of Unrest and from NY Times – The Stock Market…

Cold as ICE: Sprecher asks UK, How much do you love me? Feature

In the battle for financial markets in Europe, exchanges would like some more communication about why they should stay in the UK. To hear one exchange leader tell it, UK markets could use a little more love. At the 10th annual FIA IDX conference on Tuesday, ICE Chairman and CEO Jeff Sprecher said UK regulators have not communicated with ICE much about how they could work together and keep ICE Europe’s operations more firmly in London.  In the wake of Brexit and the upcoming MiFID II rules in January, not to mention the ongoing questions about equivalent financial regulations after…

The New Bond: KCG’s Dan Coleman Looks To Plug Exchange Model Into US Treasury Market, and How It Might Just Succeed Commentary,Feature

There are few markets, if any, that garner attention like the US Treasury market. And there are few markets as ripe for disruption as the US Treasury market. Earlier this month, at the WFE Annual Meeting in Cartagena, Colombia, KCG’s CEO Daniel Coleman outlined his vision for a new US Treasury market, which would transform it into a structure similar to a traditional equities market with bank and non-bank market makers, transparent trading platforms and efficient settlement or clearing services.   The marketplace may indeed be evolving into the structure Coleman advocates, as the Federal Reserve Bank of New York…

Steve Woodyatt, Object Trading – Blurring the buy and sell sides MWEd,Video,video

Over the last 10 years the buy and sell sides have undergone drastic shifts due to two main factors: unbundling and fragmentation. In this talk from MarketsWiki Education’s London event, Steve Woodyatt, CEO of Object Trading, discusses those two phenomena. Woodyatt details how unbundling and fragmentation are caused, to one degree or another, by regulation and competition. Whereas traditionally the sell side provided a whole host of services to the buy side, now the lines have been blurred and in some cases the buy and sell sides appear to have traded places. These service packages are essentially being “unbundled.” That…

IOMA Notes – Clearing Things Up Blog

While readers in the EMEA and Americas regions slept, the World Federation of Exchanges kicked off its annual IOMA conference in Kuala Lumpur, Malaysia. For those unfamiliar with IOMA, it began in 1983 as the International Options Market Association, and in 2002 became affiliated with the WFE. The focus of the conference has drifted over the years and its sessions are now squarely centered on the post-trade derivatives space – clearing, settlement, blockchain, systemic risk, and the panel I am moderating, trade reporting. Is a name-change imminent? At the opening reception, I could count on one (maybe two) hands the…