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Tag Archives: Bitcoin

ICO Rules and Regs: Initial Coin Offerings Under Regulatory Spotlight Blog,Feature,Fintech

So you want to launch an initial coin offering? Better buckle up and lawyer up. At the FinTank CryptoCon event in Chicago on Thursday, two attorneys addressed the complexity and pitfalls that come with launching an ICO. Barbara Jones, an attorney with GreenbergTrauig, said there continues to be some ambiguity over regulation of ICOs. SEC Chairman Jay Clayton has said numerous times that he has not seen a token from an ICO that is not a security. Meanwhile, Commodity Futures Trading Commission Chairman Chris Giancarlo is considering tokens as commodities, and has said the commission will pursue any cases involving…

Cboe says Vix products not to blame; Credit Suisse liquidates vol fund; The market is not the economy John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Electronic Interest Rate options ADV reached a record 1.43 million in January, including a single-day record on January 18th in which 1.3 million Eurodollar options traded on CME Globex, surpassing the daily pit volume.~JJL SGX FX futures volume hit a new record of $65 billion in January with ADV of $3 billion.~JK In light of all the VIX ETP drama, which was covered in yesterday’s Options newsletter, check out our blog post Vol-cano Erupts – How’s Seth Golden Doing? It was a response to the seeming surprise amongst pundits about how volatility products…

Bitcoin tumble; CurveGlobal readies fixed income push; Market rout; Robo-advisers crash John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff ICE’s NYSE FANG+ futures had record volumes on Friday last week with 7,884 contracts trading. That was one of three new record trading days last week, and average daily volume for the week was 3,278.~JJL Yesterday was the biggest one-day move for the VIX in percentage terms, up 115.6 percent.~SD Mark your compliance calendar for May 11! That’s the date on which compliance with new FinCEN Anti-Money Laundering rules (published May 11, 2016) is required. Courtesy of our friends at Exchange Analytics, who offer an AML course and more.~JJL CurveGlobal raised another £20…

Finance chiefs warn on Big Tech; Trading venues buzzing; China to stamp out cryptocurrency trading John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Richard Sandor has a new book coming out, “Electronic Trading & Blockchain: Yesterday, Today and Tomorrow.” The book tells the story of his experience leading the first project to design and establish an electronic trading platform and for-profit exchange when he taught at Berkeley in the late 1960s. Included in the book are chapters from leaders in digital assets, including Don Wilson and Don Tapscott. Doc Sandor gives Jim Kharouf and I a tip of the hat in the book as we are mentioned as leading figures in the financial press covering the…

Worries Grow That the Price of Bitcoin Is Being Propped Up; Deutsche Börse’s new CEO launches housecleaning; EU clearing houses pass second stress test John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Last night’s CAIA packed event on cryptocurrency markets featured David Schulz, director, global client services at Cboe Futures Exchange, Michael Groff, managing member at the GCG Fund and Matt Wolf, partner and CEO at Antonym. It covered some interesting ground, such as: Cboe’s bitcoin futures contract’s ADV and OI is about 5,800 contracts and ICOs are the Wild West indeed.~JK And have you heard of the top five through 10 cryptocurrencies by market cap? That would be Cardano at $14.6 billion, NEO at $9.7 billion, Litecoin at $9.3 billion, Stellar at $8.9 billion,…

Big Banks Accused of Stifling Competition in Stock Lending; Rise of Bitcoin Futures Prompts Regulator to Revisit Hands-Off Approach; EU rejects Brexit trade deal for UK financial services sector John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff CFTC Commissioner Rostin Behnam said in a speech before the Market RIsk Advisory Committee that in the 18 years since the introduction of the self-certification process for new futures products, 15 exchanges have self-certified 10,628 new products.~SD There were some Citadel personnel moves recently. Seetharam Gorre, formerly the chief investment officer for Steve Cohen’s Point72, joined Citadel as a managing director and in April, Will Evans, global franchise manager for commodities at Goldman, will join Citadel, too. (Back in August, Point72 snagged Jerrell Watts from Citadel where he was head of algorithmic execution…

Cboe’s Crypto Journey Just Getting Started Video,video

At STAC’s 92nd Annual Mid-Winter Meeting, JLN spoke with Michael Mollet, Cboe Global Markets’ director of product development, about the exchange group’s outlook on  cryptocurrency derivatives and what’s needed for more growth in the space.  It’s been more than a month since the launch of Cboe’s bitcoin futures, but to render a verdict on the success of the product is far too premature, Mollet says. Cboe is priming itself to be a market for cryptocurrency derivatives and its XBT offering is just a start.

U.S. stocks, VIX dance in tandem in break with history; Risk On Trade Correlation Between Bitcoin And Wall Street’s Fear Index Raises Alarm Bells; Frenzied Feast of Bullish Buyers Puts Risk Market in Danger Zone Newsletter,Options

Lead Stories U.S. stocks, VIX dance in tandem in break with history Saqib Iqbal Ahmed – Reuters A rising U.S. stock market normally reduces fear among investors, but the blistering pace of the current rally has instead also driven up the anxiety factor in the market. The S&P 500 Index and the Cboe Volatility Index, which is the main gauge for measuring investor fears that benchmark stocks will drop in the near term, have moved in rare tandem form. jlne.ws/2DV9qZx ****SD: As of this writing VIX is around 13 and the S&P 500 is down about .3 percent. Risk On…

Deutsche Boerse ends Asia expansion plans; NYSE, Nasdaq Fighting to Keep Grip on Market Close; Hodgkinson leaving Euronext John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff John Lothian News will be bringing our video team to Boca for the FIA International Conference in March. We will again be shooting our exchange and industry leader video series. If you have some suggestions for topical subjects or persons to interview, email me.~JJL Yesterday we issued a Special Report for the Trading Technologies and GDAX/Coinbase news and Jim Kharouf shot a short video to introduce the story he wrote. I did a short Twitter live piece as an experiment to promote the Special Report. It went fine, except my tie was not…