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U.S. Judge Says ICOs Covered by Securities Law; NY overtakes London John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff There were erroneous links included in the CMT Digital video released yesterday. Despite sharing two letters, CME’s options boom is not related to CMT Digital’s crypto endeavors. To view the video – Under The Crypto Hood With CMT Digital – go here. Apologies for the fat finger error and confusion. ~SD Andrew Ross Sorkin of the New York Times writes that The Wall Street Power Lunch Is Back, With Martinis and Impunity.~JJL North Carolina, set for the arrival of Hurricane Florence on Thursday, is the nation’s number one producer of both turkeys and…

Bad bets offer a cautionary tale to investors; Second-guessing the volatility of markets can be costly Newsletter,Options

Observations & Insight The Spread – The Colo Down-low – 9/7 JohnLothianNews.com “The Spread” hasn’t covered Aurora, Ill. during its time on the web. We tick that box in this week’s recap. Watch the video and see the stories referenced here » Lead Stories Bad bets offer a cautionary tale to investors; Second-guessing the volatility of markets can be costly Brendan Geeley – FT (SUBSCRIPTION) Over several days in early February of this year, two retail exchange traded products lost more than 80 per cent of their value. Close to $3bn was wiped out. One product, which traded as XIV,…

Another Big Personnel Move; BaFin supports UK in Brexit derivatives spat JLN Options Newsletter,Newsletter,Options

Lead Stories Yet another big-name equity derivatives MD changes seats Beecher Tuttle – eFinancialCareers J.P. Morgan has lost a big name within its global equity derivatives team. Jason Cuttler, who spent the last two years at JPM after a lengthy career at Goldman Sachs, has left the bank and is currently on gardening leave, suggesting he’s been poached by another firm. Cuttler didn’t respond to a request for comment on where he’s heading. /goo.gl/AsyZ8k ****SD: There have been lots and lots of moves this year. Germany aligns with the UK against Brussels on GBP100 trillion derivatives danger Ambrose Evans-Pritchard and…

Wall Street Erases the Line Between Its Jocks and Nerds John Lothian Newsletter,Newsletter

First Read Report from the International Blockchain Congress By Chuck Mackie and Sarah Rudolph – JLN The second International Blockchain Congress (IBC) took place on Friday at the Aon Center in Chicago. Topics ranged from crypto trading to smart contracts to the regulations surrounding ICOs. While the Congress was run much more efficiently than the first version, which fell hours behind schedule, this iteration saw much less in the way of attendance and speakers from outside the U.S. That said, a couple of speakers from Asia shed interesting light on cryptocurrency markets that those in the West rarely see or…

Brexit, Brexit, Brexit, plus, Legacy Hedging Problems Newsletter,Options

Lead Stories How Oil Producers Can Go Broke When The Price Of Oil Soars Ed Hirs – Forbes It is earnings season, and oil producers are not all putting out good earnings reports, despite a rise in the price of West Texas Intermediate (WTI) from $40 per barrel just two years ago to $70 per barrel today. You would think that companies that barely survived two years ago would now be flush with earnings, but for some companies, the opposite is true, as financial contracts from a year or so ago are now coming back to bite. /jlne.ws/2MybLuE ****SD: You…

Trump administration cuts staff at financial markets watchdog John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff We recently learned of some sad news: Joe Levin, a longtime Cboe vice president, passed away on July 29, 2018 at the age of 71. Before leaving the Cboe in June 2014, he served as the company’s vice president of research and product development. Among his many contributions to the exchange, Levin was instrumental in laying the groundwork for Cboe’s volatility products, including futures and options on the VIX index. Memorial contributions may be made to Progressive Supranuclear Palsy (www.psp.org).~SR CFTC Commissioner Chris Giancarlo played banjo on Mike Marlin’s album “Grand Reveal”…

Regulators club together to form global ‘fintech sandbox’ John Lothian Newsletter,Newsletter

First Read Joe O’Neill, New York Commodity Exchange(s) Executive, Passes Away By John Lothian Longtime New York commodity exchange executive Joe O’Neill passed away on August 4, 2018 at the age of 74. This plain statement tells little of a life lived in the most colorful of times in New York commodity exchange history or a career that included launching the first financial futures (before CME/IMM by 2 years), the creation of the Dollar Index Contract (with the help of Paul Tudor Jones) and being the consultant for the futures trading aspects of the script of the hit movie “Trading…

The Markets Will Stop a Trade War; Nasdaq’s Crypto Policing Meeting; Forest Fires John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff We have three changes for the upcoming MarketsWiki Education World of Opportunity series in Chicago. Renato Mariotti was called to Atlanta by CNN on Monday, so he will not be speaking on Thursday, August 2. We have moved Bill Weldon from Tuesday to Monday to fill Renato’s space and moved Jessica Darmoni from Thursday to Tuesday to fill Bill’s vacated spot. There is always some last minute change. ~JJL Priceonomics posted a blog about which companies in the S&P 500 generated the most revenue per employee (RPE) in 2017. 13 of the top…

Trump’s Defense of Putin Too Much for Some Republicans; U.K.’s May in Brexit Turmoil John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff The word of the day in the United States is: Treason.~JJL On Saturday, WGN Television held a Trading Tech 300 session with Demetrius Ivory teaching the weather merit badge to a group of Boy Scouts and one girl STEM Scout. At the class we learned what a CME is in the world of weather. A CME, or coronal mass ejection, is a significant release of plasma and magnetic field from the solar corona. They often follow solar flares and are normally present during a solar prominence eruption. ~JJL Later this week Advantage Futures…