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Tag Archives: Brexit

JLN Options: Volcker Rule Rewrite; Thomson Reuters moving FX derivs to Ireland Newsletter,Options

Lead Stories Volcker Rule Rewrite to Drop Trading Burden on Banks, Sources Say Jesse Hamilton and Benjamin Bain – Bloomberg Wall Street is poised to get a big reprieve from the Volcker Rule, as U.S. agencies prepare to scrap a restrictive presumption that most short-term trades violate the post-crisis regulation, three people with knowledge of the matter said. In a much-anticipated overhaul, the Federal Reserve and other regulators are planning to drop an assumption written into the original rule that positions held by banks for less than 60 days are speculative — and therefore banned, the people said. Instead, banks…

Uncertainty Still Looming – Thomas Book, Eurex Feature,Video,video

Europe can breathe only a bit easier with MiFID II preparation out of the way – there’s still much geopolitical uncertainty on the horizon with Brexit barrelling towards markets.   In this video from JLN’s annual series with industry leaders, Eurex CEO Thomas Book talks about shifting investor behavior, the growth of MSCI products, distributed ledger technology and more.   Produced by Mike Forrester Interview by Jim Kharouf

CME rules out asset sales after Nex deal; Euronext eyes post-Brexit opportunities John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Compliance And Regulatory Liaison, from Trading Technologies, available April 1, 2018 TT.~JJL If you missed our early edition of The Spread – our options-related news recap – last week, check it out here. Baseball, volatility milestones, Oprah – there’s a bit of everything in this one.~SD At Boca I recommended a great April Fool’s Day press release. I recommended an exchange put out a press release saying they were listing a futures contract on vibranium. Evidently, they could not figure out how to make clearing and delivery work for a fictional metal.~JJL See…

Bear Stearns Meltdown Wreck; Decision time for Michael Spencer; Deductive Reasoning or Insider Trading? John Lothian Newsletter,Newsletter

First Read Potential CME-NEX Deal Is Full of History, Dilemma, Risk and Reward John J. Lothian – JLN For many years, the Chicago Board of Trade had cash treasuries envy, wanting to add the trading of cash treasury bonds and notes to its offerings. For many years, the CME has had cash currency trading envy. Both exchanges, now part of the CME Group, have tried to compete in cash Treasury and FX through various collaborations and initiatives. None of them succeeded. Chicago Board Brokerage and FXMarketSpace are long gone, but the desire to add treasuries and cash FX trading has…

HKEx May Have Reached Its Peak; Crypto Could Be Lifeline for CHX; Hundreds of European stocks barred from dark pools John Lothian Newsletter,Newsletter

First Read Statement on Potentially Unlawful Online Platforms for Trading Digital Assets Divisions of Enforcement and Trading and Markets SEC Online trading platforms have become a popular way investors can buy and sell digital assets, including coins and tokens offered and sold in so-called Initial Coin Offerings (“ICOs”). The platforms often claim to give investors the ability to quickly buy and sell digital assets. A number of these platforms provide a mechanism for trading assets that meet the definition of a “security” under the federal securities laws. If a platform offers trading of digital assets that are securities and operates…

China’s VIX Goes Dark; Hidden Corners of Credit Selloff; LJM fund lawsuit Newsletter,Options

Lead Stories China’s VIX Goes Dark as Government Clamps Down on Options Bloomberg News State-run index compiler stopped updating the gauge Thursday; Move is designed to curb options trading, people say China stopped updating its homegrown version of the VIX Index, taking another step to discourage speculation in equity-linked options after authorities tightened trading restrictions last week. State-run China Securities Index Co. didn’t publish a value for the SSE 50 ETF Volatility Index on its website Thursday. An employee who answered CSI’s inquiry line said the company stopped updating the measure to work on an upgrade. The move was designed…

Temenos in advanced talks to buy Fidessa; Congress sets sights on cryptocurrency rules; Bitcoin surges John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff This Thursday in Chicago, the FIA will hold its 2018 Annual Meeting & Washington Update where Walt Lukken will mention CQG’s Pat Kenny at least three times during his remarks. That is just my prediction.~JJL This year’s FIA International Conference in Boca Raton, Florida will be the 43rd. The FIA Law and Compliance Division Conference on May 2 to 4 in Washington, DC will be its 40th.~JJL Trading Technologies’ annual Tennis Tournament benefiting Futures For Kids will be held on March 13th at FIA Boca. Sign up here.~JK Euronext is participating in the…

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…

Clayton and Giancarlo on Crypto; Aramco IPO Implications; May’s Brexit talk John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff The Chairman of the Commodity Futures Trading Commission (CFTC), J.Christopher Giancarlo, will be a keynote speaker at Boca 2018! You looking for something to trade? CME is holding a course: Introduction to TOPIX on the Tokyo Stock Price Index (TOPIX) and Yen-denominated TOPIX Futures, which are set to launch on February 5 at CME Group. Gain a basic understanding of how to incorporate TOPIX futures into a trading strategy and how the contracts compare to Nikkei 225 Index futures.~JK JLN will be issuing a Special Report this morning on some embargoed news. Stay…