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Tag Archives: Bitcoin

SEC Pours Cold Water on Prospect of Bitcoin ETFs; Rolling back regulations often comes before a financial meltdown; Bond Markets’ Last Line of Resistance Faces Digital Encroachment John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff I will be in Washington, DC on Monday and Tuesday for the Technology Advisory Committee meeting on Tuesday at the CFTC. ~JJL IMC was in the builtinchicago list of “The 10 coolest Chicago tech offices we saw in 2017”. ~JJL This, from https://goo.gl/xGjaTW|today’s New York Times piece, “‘Every time you transfer a cryptocurrency, you might trigger a gain and pay a tax,’ said Selva Ozelli, a tax lawyer and accountant.” ~JK There’s a new report out from WalletHub regarding 2018’s [U.S.] Cities with the Highest and Lowest Credit-Card Debts. Chicago comes in the…

Hudson River to acquire Sun Trading as HFT continues to contract; What Could Kill the Bitcoin Boom; BitConnect Closes Exchange as States Warn of Unregulated Sales John Lothian Newsletter,Newsletter

First Read You Can’t Rain On Our Parade: Cboe’s Big 2017 Includes Bitcoin Futures. Can It Overcome Regulatory, Margin and Volatility Headwinds? Jim Kharouf – John Lothian News To hear Cboe Global Markets Chairman and CEO Ed Tilly tell it, his exchange group is firing on all cylinders and adding new ones to the engine. The exchange boasts the top US equity options market and has a lock on volatility products with the VIX futures and options and related exchange traded products. Cboe now has the top pan-European equity market and the second ranked US stock market, as well as…

You Can’t Rain On Our Parade: Cboe’s Big 2017 Includes Bitcoin Futures. Can It Overcome Regulatory, Margin and Volatility Headwinds? Commentary,Feature

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To hear Cboe Global Markets Chairman and CEO Ed Tilly tell it, his exchange group is firing on all cylinders and adding new ones to the engine. The exchange boasts the top US equity options market and has a lock on volatility products with the VIX futures and options and related exchange traded products. Cboe now has the top pan-European equity market and the second ranked US stock market, as well as a burgeoning FX business. As the migration of its exchanges onto the Bats trading platform continues, with Cboe Futures Exchange due up next month, its technology is taking…

Cryptocurrency Prices Crumble; Traders Pay Through the Nose to Bet the S&P 500 Will Snap Higher; Dow Industrials Cross 26000 for First Time as Earnings Season Ramps Up Newsletter,Options

Lead Stories Cryptocurrency Prices Crumble; Bitcoin, Ethereum Post Large Losses Nasdaq Cryptocurrency Market under Heavy Selling Pressure “Only when the tide goes out do you discover who has been swimming naked,” stock market guru Warren Buffett once observed and it looks like the cryptocurrency tide has definitely receded in the last 24 hours with the market showing double digit percentage losses right across the board. The sell-off started in Asia and accelerated when European traders entered the fray, as talk continued to circulate that South Korea was preparing a cryptocurrency ban. Bitcoin and Ethereum prices fell sharply last week after…

Filings reveal DRW’s climb into top rank of trading firms; BlackRock’s Message: Contribute to Society, or Risk Losing Our Support; Euromoney’s RISI unit raided by EU antitrust authorities John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff The CBOE is holding its press lunch today in Chicago. It is the Chicago financial press’s opportunity to ask tough questions to the CBOE management team. My money’s on the first question being about bitcoin.~JJL A few names mentioned in Bloomberg’s Bitcoin Frenzy Helps Crypto Hedge Funds Reap 1,100% Gains include: Lee Robinson, who co-founded the Altana Digital Currency Fund along with Alistair Milne; Cedric Jeanson of BitSpread Group; Manuel Anguita of Silver 8 Partners; and Daniel Masters, co-founder of Global Advisors Bitcoin Investment Fund. As always, can they keep it going?~JK Hong…

Kraken Bitcoin Exchange Reopens After Two Anxious Days; Scores injured as Indonesia stock exchange building lobby floor collapses; One corner of the stock market sees even crazier trading than bitcoin John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Welcome to Martin Luther King, Jr. Day in the United States, a holiday honoring the life of the slain civil rights leader, minister and peace-maker. ~JJL The most recent article found on a Google search for black executives on Wall Street was a Bloomberg story from July 27, 2017 that said the percentage of senior black executives and managers fell over the past five years. Black executives at JPMorgan Chase, Citigroup and Goldman Sachs accounted for no more than 2.6 percent of top positions at the three banks. ~JK From Business Insider’s piece…

This Is Where People Are Buying Bitcoin All Over the World; Who Wants to Be Bitcoin’s Watchdog? John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Unsurprisingly, yesterday’s STAC panel on cryptocurrency, moderated by Bcause‘s Sean Ristau, looked to be the best attended. The lack of regulatory certainty is the biggest challenge in crypto, as no one is sure yet whether it is going to be considered a security or cash (SEC Chairman Jay Clayton has said “virtual currencies are unlike any commodity that the CFTC has dealt with in the past, and….pose challenges for the SEC as well.”) Clayton and CFTC Chairman Chris Giancarlo are scheduled to speak with the Senate on the matter next month. The CFTC…

Regulator halts European equity trading shake-up; ‘Fiduciary Rule’ Poised for Second Life; Emerging Managers Outperform Established Funds John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff LinkedIn is reporting the 15-year anniversary of John Lothian being at John J. Lothian & Company, Inc. Time flies when you publish a newsletter.~JJL CME Economist Erik Norland is back with more super weird spaghetti graphs, this time contained in his new piece The Yield Curve – Unemployment Feedback Loop.~SD The Security Traders Association of Chicago Mid-Winter Meeting begins today and I will again point out that the marketing material was themed “mid-winter is coming.” While rain is in the forecast, travelers to the City of Windbags should be grateful that it feels…

Quant funds set to pass $1tn mark; Hong Kong Exchange Eyes New Trading Rules; Spread-betting rise threatened by EU rules John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Brazil’s exchange, B3 (formerly BM&FBovespa) announced its main stock market performance index – Ibovespa – hit a record high Friday, ending the day at 79.071 points, up 0.54 percent from the previous Ibovespa record of 78.647 points last Thursday.~JK SGX reported its derivatives volume was 178.4 million, up 18 percent in 2017 from the previous year, with its FTSE China A50 Index futures the most active contract with 64 million contracts, up 13 percent. Here is the full report.~JK With Mark Mobius retired from Franklin Templeton, who in emerging markets will pick up…