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U.S. authorities due to make arrests in futures ‘spoofing’ probe; Deutsche Börse to spend EUR18m renovating the Frankfurt stock exchange; Hedge Funds Go Bullish on Bitcoin Futures John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Fintank is holding a cryptocurrency event on February 17 at the Northwestern Pritzker School of Law on East Chicago Avenue in the Thorne Auditorium. The name of the event is Crypto Con. I am not sure if you are supposed to wear a costume of your favorite cryptocurrency to the event, but I will be there on a panel at 4:30 PM.~JJL The Fintank people have me listed as John Lothian of JJL News. Not sure what that is. Maybe they meant JLN.~JJL An interesting take on crypto in Bloomberg today, where Markus…

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…

Is the VIX Being Gamed?; Bullish Options Positioning; Traders Love Crypto Stock Moves Newsletter,Options

Lead Stories Is the VIX Being Gamed? A Sudden Swoon Has Traders Talking Again Nikolaj Gammeltoft and Cecile Vannucci – Bloomberg It made for quite a chart. On the morning of Dec. 20, just as billions of dollars of futures tied to the Cboe Volatility Index were set to expire, the index plunged. The result was a settlement price, a weekly value critical to holders of some the most heavily traded derivatives in the country, that was 13 percent below the prior day’s close. A nice break, if you were short. jlne.ws/2FmYv96 ****SD: I think one upside to this whole…

Bond Investors Are Worried About Bond Market Liquidity; Saudi Arabia signs major markets upgrade with Nasdaq John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff The “Putting on my broker hat about bitcoin” commentary by John Lothian had 1778 views on LinkedIn since it was published Friday. ~JJL The @JohnLothian twitter handle had 46,664 organic impressions on Friday. ~JJL The story by John Lothian, “FANG+ Puts the UMPH Back into the Markets and Exchange Competition” had 16,605 impressions on Twitter so far and is @JohnLothian’s top tweet of the last month. ~JJL CME Group is offering a webinar on “The ABC’s of Spread Trading with Futures” on Tuesday, December 12 from 11:00 a.m. to 12:00 p.m. CT….

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…

Fangs futures arrive as exchange operator tries to cash in on tech rally; Bond trading desks seek data scientists to work alongside traders John Lothian Newsletter,Newsletter

First Read Hits & Takes Our friends at the Chicago Federal Reserve have published a primer on Blockchain. “Blockchain and Financial Market Innovation” by Rebecca Lewis, John W. McPartland, and Rajeev Ranjan is available HERE.~JJL Bob Pisani of CNBC likes the ICE’s new NYSE Fang Plus Index, the futures of which launch today.~JJL MarketsMedia has announced their 2017 Women in Finance Award Winners, with many of our favorite people listed as winners.~JJL Hamish Purdey, Chief Executive of Intelliflotaking, is taking part in Centrepoint’s Sleep Out to give homeless young people a future. You can help support his efforts HERE.~JJL The…

Top investors want Deutsche Börse chief to resign; ICE ramps up move on corporate bond market John Lothian Newsletter,Newsletter

First Read Hits & Takes It was a big day for ICE yesterday as they announced two acquisitions, BondPoint from Virtu and a stake in Euroclear from RBS. Here is a commentary written August 17 by Jim Greco of TradingPlaces about Virtu and the possibilities for BondPoint.~JJL Slides are available for download by STAC members on the STAC website. This is the Securities Technology Analysis Center, not Securities Traders Association of Chicago.~JJL Myron Scholes, Ph.D. will be speaking at the CFA Society of Chicago on November 17 at the Palmer House on “The Evolution of Asset Management: Risk Management.”~JJL LSE’s…

Record Assets Continue To Pour In To ETFs Newsletter,Options

Observations & Insight OCC Cleared Contract Volume Down Nine Percent in September OCC OCC, the world’s largest equity derivatives clearing organization, announced today that cleared contract volume in September was 335,867,813 contracts, down nine percent from September 2016 volume of 367,641,787 contracts. OCC’s year-to-date average daily cleared contract volume is up three percent from 2016 with 17,038,958 contracts in 2017. jlne.ws/2fLfXfi Lead Stories Record Assets Continue To Pour In To ETFs Drew Voros – Nasdaq For the month of September, $28.2 billion flowed into U.S.-listed ETFs during the month, according to the latest data from FactSet. That follows inflows of…

The Fed Unwinds; BTS Launches BTS Spark John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff The Giving Tree This is a different type of giving tree, so hang with me. There are a number of announcements to be made today. If you had not seen the information about the visitation for Les Rosenthal, here it is: Chicago Jewish Funerals, 8851 Skokie Blvd. Skokie IL 60077, today, September 19, between 1:00 p.m to 4:00 p.m. In lieu of flowers, contributions in his memory may be made to a charity of your choice. There are a number of charities listed. In recent days prior to the sad news, JLN…