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Strong October Options Volumes; American Options Calibration Issues; Betting Against Bitcoin Newsletter,Options

Observations & Insight ESMA Consults On Calculation Of Derivative Positions Mondovisione The European Securities and Markets Authority (ESMA) has today published for public consultation future guidelines on the calculation of derivative positions by trade repositories (TRs) authorised in the European Union under the European Market Infrastructure Regulation (EMIR). jlne.ws/2hIw0Mb ****SD: In the link to future guidelines that is provided, there is this – “In contrast to the approach required under MiFID II/R to calculate position limits, position calculations with regards to options are not based on delta-adjusted notional values. Rather, the relevant gross notional values that are reported under EMIR…

New Deutsche Boerse chief; Bank bond-rigging case; Americans don’t know why they buy Bitcoin John Lothian Newsletter,Newsletter

First Read WILD Women Make Sound Investment Decisions; Women will have $22 trillion of investing wealth by 2020 By Sarah Rudolph – JLN Managing Editor Now that women actually have their own money, they – like men – need to know how to make it grow with savings and investments. Women are projected to have $22 trillion of the investing wealth by the year 2020 – they had better know what to do with it. Women in Listed Derivatives (WILD), which has become well known for its efforts in the advancement of women in the financial industry, brought together another…

The Low Vol Puzzle; Post Bank say BOJ should sell puts; Buying dips Newsletter,Options

Observations & Insight FANG+ Puts the UMPH Back into the Markets and Exchange Competition John Lothian – JLN Hallelujah! The magical power of innovation from exchange competition in Chicago is alive and well after a noticeable absence. The NYSE FANG+ index at ICE Futures US is the most innovative and timely new contract I have seen since the Cboe introduced the VIX. Besides the FANG+ contract, we have the expectation of the CME Group and Cboe slugging it out later this year with competing bitcoin futures offerings. Earlier this year we had the CME Group reclaim the Russell index complex…

US Treasury dealers accused of collusion; Bitcoin futures face safeguards; EEX acquires 100% of Powernext John Lothian Newsletter,Newsletter

First Read FANG+ Puts the UMPH Back into the Markets and Exchange Competition By John Lothian – JLN Hallelujah! The magical power of innovation from exchange competition in Chicago is alive and well after a noticeable absence. The NYSE FANG+ index at ICE Futures US is the most innovative and timely new contract I have seen since the Cboe introduced the VIX. Besides the FANG+ contract, we have the expectation of the CME Group and Cboe slugging it out later this year with competing bitcoin futures offerings. Earlier this year we had the CME Group reclaim the Russell index complex…

Bitcoin issues; No CAT Delay; Goldman ready for vol Newsletter,Options

Observations & Insight The Bitcoin Exchange That CME Plans to Use for Futures Is Down Camila Russo – Bloomberg This is exactly what the bitcoin futures naysayers have been warning about: One of the exchanges which CME Group Inc. would use to price the contracts is having serious issues. jlne.ws/2AIefQY ****SD: Not good. But this is partially why CME gathers pricing data from multiple other trading platforms – GDAX, itBit and Bitstamp. Here’s the methodology for CME’s CF Bitcoin Reference Rate (BRR) and CME CF Bitcoin Real Time Index (BRTI). To understand how a “down exchange” dynamic can play out,…

Deutsche Boerse Said to Favor UniCredit’s Weimer for CEO; Junk Bond Sell-off; Virtu’s Viola warns of clearing house risk John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff ICE announced a number of management team promotions today, including: Charles A. Vice has been named vice chairman, with continued responsibility for ICE’s global technology, information security and operations. He was previously president and chief operating officer, and has been with ICE and its predecessor company for more than 23 years. Press release here.~SR Click here for yesterday’s JLN Options newsletter.~SD See the latest thought leadership piece from Steve Grob of Fidessa, titled “Loophole lunacy” HERE.~JJL Asia Pacific Financial News from John Lothian News – November 14, 2017~JJL It appears there has…

Goldman and JPMorgan lead in equity derivatives; Harvest Vol Mangement profile; Spot Trading layoffs Newsletter,Options

Observations & Insight 30 Under 30 Finance: The Top Young Traders, Dealmakers And Big Money Innovators Antoine Gara, Lauren Gensler, Kristin Stoller and Nathan Vardi – Forbes The Wall Street landscape is becoming younger, digitized and more entrepreneurial. Technological and innovative forces are reshaping the world of money and they can be seen on this year’s Forbes 30 Under 30 Finance list. jlne.ws/2AG3pe9 +++++ Well You Did Ask… Highly Evolved Vol We recently moved into some new offices in a co-working space. I love it. It makes admin tasks so much easier. There is free coffee. The staff is friendly…

Spot Trading cuts headcount; Wall Street Fines Fall in Trump’s First Year; J.P. Morgan’s Mobile Payments Struggle John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff Exchange Analytics has released a new Market Conduct Training Course.~JJL The World Gold Council reports that gold-backed ETF holdings increased by 3.3 in October to 2,347.6 tonnes. Europe led inflows, as investors added 11.2t of gold through funds; North America had outflows of 8t, reversing some September gains; funds in Asia gained 0.8t, but ETFs in other regions lost -0.7t in October. This is amid a year-on-year 9% drop in general demand for gold to 915 tonnes.~SR The CME’s Blu Putnam and Erik Norland have another piece out comparing the characteristics of…

The Industry Discusses Cryptocurrencies and DLT, Part II Feature,Video,video

At the 33rd Annual FIA Futures and Options Expo in mid-October, John Lothian News spoke with a variety of industry participants about upcoming milestones and trends in financial markets. This sixth video in the series is the second to cover the booming cryptocurrency space and its technological underpinnings. In part two, Gary DeWaal, special counsel with Katten Muchin Rosenman, John Omahen, FIS’ head of product strategy, Anthony Tassone, founder of GreenKey Technologies and Carl Gilmore, president of Integritas Financial Consulting share their thoughts on the crypto space.