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A Goldman Trading Desk That Once Had 500 People Is Down to Three John Lothian Newsletter,Newsletter

trading desk

First Read Hits & Takes JLN Staff The Wall Street Journal’s Did Chicago Exchanges Muscle a Rival Out of Town? A Jury May Soon Decide yesterday was the most read story of the year on JLN. Names to remember not included in the story are: Rudolf Ferscha, Michael McErlean, Andreas Preuss, Harris Brumfield and Satish Nandapurkar.~JK NFA is seeking an Analyst of Financial Analysis and Surveillance for NFA’s New York Compliance Department. The Analyst is responsible for supporting NFA’s regulatory programs through financial surveillance of Members, with an emphasis on the managed funds sector, investigations and Member services.~JJL Information on…

Did Chicago Exchanges Muscle a Rival Out of Town? John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Members of the JLN team are headed to Florida for the Options Industry Conference this week. Spencer Doar, Mike Forrester and John Lothian will be in attendance. Reach out to us if you want to set up a meeting there.~JJL A big thank you to Renato Mariotti for the brilliant piece he wrote for JLN on the recent spoofing acquittal.~JJL IFLR.com has an exclusive that the CFTC’s Chairman, Christopher Giancarlo, will retire at end of his term.~JJL ICODA has a seminar planned in Geneva, Switzerland, “Blockchain is here, now what?” It is on…

Bitcoin is the greatest scam in history John Lothian Newsletter,Newsletter

scam

First Read Hits & Takes JLN Staff Exchange clearing specialist and economist Thom Thompson has joined John Lothian News part-time as a contributing editor for the CryptoMarketsWiki.com project. Thomson has worked with the Chicago Board of Trade, BOTCC, Deutsche Boerse, Eurex, Eurex Clearing and the Swiss Exchange in a career that began at the CFTC as an industry economist. More recently, Thomson has worked with exchange startups Seed CX and Bcause. He can be contacted at thomthompson@johnlothian.com.~JJL If you wish to vote for whatever horse you have in the Intelligent Trading Technology Awards race, go here. ~SD Hanweck has been…

The 30 minutes that have an outsized role in US stock trading John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Two noteworthy items about the two firms bidding for Fidessa. ION and rival bidder SS&C Technologies both claim the Carlyle Group or affiliates as investors. Both companies have grown dramatically via acquisition. SS&C has made dozens of deals – the latest a $5.4 billion purchase of DST Systems. Privately-held ION has made nine acquisitions since 2008 and has a bid of $2.09 billion for Fidessa.~JK CBOE Chairman & CEO Ed Tilly and President Chris Concannon sent a customer letter about VIX pricing and recent erroneous claims in academic paper.~JJL Category: So I got…

A Former Top Wall Street Regulator Turns to the Blockchain John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff JLN Readers interested in the Crypto Evolved event in New York on June 27 from Viable Markets may receive a 10% discount when they register using THIS LINK  before April 30th. Limit of 50 tickets at that price.~JJL The SEC tracks the number of cyber actions it has taken since 2012. To date, it has opened 15 digital currency/ICO cases, 13 trading suspension cases, 4 hacking/insider trading cases, 4 market manipulation cases, 3 account intrusion cases and 2 customer information safeguard cases.~JK Business Insider reported “Being outside can improve memory, fight depression, and…

LSE Hires Goldman’s Schwimmer as CEO, Ending Long Search John Lothian Newsletter,Newsletter

LSE London Stock Exchange

First Read Hits & Takes JLN Staff The London Stock Exchange Group has appointed the American Goldman Sachs banker David Schwimmer as chief executive officer.~JJL The World Federation of Exchanges’ IOMA Conference 2018 in Chicago is the organization’s 35th such event, with exchanges, clearinghouses and market participants from around the world attending. OCC is the event host. Yesterday’s sessions included a panel hosted by JLN’s Jim Kharouf on Brexit, which featured Judith Hardt, from the Swiss Finance Council, Stephen Fischer from Blackrock and Erik Müller of Eurex Clearing. Erik seemed the most happy about Brexit. Judith was neutral.~JK OCC CEO…

How a volatility virus infected Wall Street John Lothian Newsletter,Newsletter

virus

First Read Hits & Takes JLN Staff At yesterday’s IFM Smart Financial Regulation Roundtable: Implications of Cryptocurrencies in Washington DC, Rostin Behnam, commissioner, Commodity Futures Trading Commission, was asked if he could change one thing about the crypto markets what would it be? He said it would be regulation of the cash crypto markets, although not necessarily by the CFTC.~JK Also, Angela Walch, associate professor, St. Mary’s University School of Law made one of the more stunning comments about the crypto markets, which she said feature several powerful so-called miners, dispelling the notion that these markets are decentralized and uncontrolled…

Widespread Fraud in ICOs and Penny Stocks Shocked SEC’s Jay Clayton John Lothian Newsletter,Newsletter

fraud

First Read Hits & Takes JLN Staff Thank you to all who donated to the Gofundme campaigns mentioned in the newsletter yesterday. I could not be more proud of you all for your outpouring of support and generous response. The goal for Anthony Di Benedetto has nearly been reached and the goal for the Burns family has been exceeded even more.~JJL As heart-pulling as the stories in JLN were, yesterday was a somber day for me as I attended a wake for a childhood friend who made the ultimate decision. His brother asked all of us in attendance to reach…

Wall Street Is About to Answer the Good/Bad Volatility Question John Lothian Newsletter,Newsletter

good bad

First Read Hits & Takes JLN Staff Readers, we have an industry colleague, Tony DiBenedetto, who needs our help. Tony is a 35-year industry veteran who spent his entire career at NYMEX. After leaving the NYMEX six years ago he has had trouble finding full-time work. His wife is battling cancer and he is facing foreclosure on their home. A Go-Fund-Me effort has been started to raise $25,000 to help him. So far $18,980 has been raised. Please consider helping Tony. Click HERE to go to his Go-Fund-Me page.~JJL Additionally, a Go-Fund-Me page has been created for the family of…