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ETF Trading Glitch Fuels Worries Over Modern Markets; Teza sells high-speed trading as lucrative business sours; ICE delays launch of clearing for London gold benchmark John Lothian Newsletter,Newsletter

First Read Bits & Pieces By John J. Lothian The LME came to Chicago yesterday for a straightforward marketing presentation and attracted a room full of Chicago futures market participants. They laid out their business, plans and factors impacting them in a well done program. The big news out of LME is the June 5 launch of its precious metals futures; gold and silver. Here is a FAQ about their offering. John Lothian News is bringing its MarketsWiki Education World of Opportunity series to New York on July 11 and 12. Sign up will open up June 1. Nasdaq will…

Sterling Trading Tech to Acquire CBOE’s Livevol X Trading Platform; Teza sells high-speed trading as lucrative business sours; Placid markets mask investor fear that equity turmoil looms Newsletter,Options

Observations & Insight Bits & Pieces By John J. Lothian This morning we present the first of our MarketsWiki Education World of Opportunity videos from Stockholm. Peter Fredriksson of Baymarkets is the first up with a story about Stockholm. My phone experienced a series of text messages yesterday as NYSE Arca Equities had electronic trading problems late in the day. Here is the System Status page with the details on the problem. It was ten years ago when I went to the FIA Boca Raton conference with an idea: MarketsWiki. It was there I pitched various firms about the idea….

NYSE Arca Suffers Glitch During Closing Auction; High-Frequency Traders Fall on Hard Times; Threat or Opportunity? Blythe Masters Talks Blockchain Jobs Impact John Lothian Newsletter,Newsletter

First Read Bits & Pieces By John J. Lothian This morning we present the first of our MarketsWiki Education World of Opportunity videos from Stockholm. Peter Fredriksson of Baymarkets is the first up with a story about Stockholm. My phone experienced a series of text messages yesterday as NYSE Arca Equities had electronic trading problems late in the day. Here is the System Status page with the details on the problem. It was ten years ago when I went to the FIA Boca Raton conference with an idea: MarketsWiki. It was there I pitched various firms about the idea. I…

Chicago Wants to Be a Hub for China Stock Trading; Wall Street’s Volatility Pioneer Searches for Latest Fear Trade; Hedge fund redemptions a dismal end to a bad year John Lothian Newsletter,Newsletter

First Read My Picks for CFTC and SEC Commissioners By John J. Lothian Despite repeated inquiries to knowledgeable industry players, there is little buzz about prospective new CFTC and SEC Commissioners outside of the chairmen. So if there is no buzz, then let’s create some of our own in time for the FIA Boca Raton International Conference. I am going to give you my top ten potential candidates for each commission in alphabetical order. That they are on the list does not mean they would be willing to serve, but it does mean I believe they are eminently qualified to…

Dismantling Dodd-Frank May Have to Wait; How the Euro Could Break Up—or Be Saved; UK’s May defeated as lawmakers demand power to reject final Brexit terms John Lothian Newsletter,Newsletter

First Read More power to ’em: Nodal acquired by EEX Spencer Doar – JLN The UK doesn’t want ICE to have Trayport. The LSE/Deutsche Boerse deal looks dead in the water. But in one neck of the exchange woods ó power ó all parties appear happy. Last Friday, the energy exchange EEX (part of the Deutsche Boerse empire) agreed to buy the U.S. based Nodal Exchange in an all-share deal, instantly turning the franchise global. /goo.gl/CxWwSC **JK: Our interview with Paul Cusenza about Nodal and EEX. ++++ Playing With No Reserves Sean Brown – YCharts Working at a startup or…

LSE-Deutsche Börse deal in jeopardy over antitrust hurdle; The Multi-Trillion Dollar Brexit Fight; Buffett Says $100 Billion Wasted Trying to Beat the Market John Lothian Newsletter,Newsletter

First Read An O-fer Jim Kharouf In sports, when you have a rough time and do not get any hits in baseball or shots to fall in basketball, they call that an “o-fer.” In Deutsche Boerse’s case, it looks like they are 0 for 3 in attempts to land the big deal with the London Stock Exchange Group. It’s not the end of the world for either company if this deal is not approved by the European Union. LSE still has a solid foundation of exchanges, clearing, technology and index businesses. Deutsche Boerse also has its strong stable of exchanges,…

Data centres help London retain cachet; CME Group Interest Rate Contracts Shatter Records On Feb. 22; Reinstitute Choice and Civility – ‘Tis Time for Retail FX in the U.S. to Have a Regulator, Not an Executioner John Lothian Newsletter,Newsletter

First Read Cinnober Going Big On Clearing JLN The Cinnober recap of its annual meeting revealed just how serious the company is about developing and investing in a new back office, real time clearing business. This space is ripe for change and competition, and Cinnober reported that it aims to raise about $20 million via a stock sale for the new entity. Over the next two years, Cinnober will launch a new realtime back office clearing system which will be spun off from the company. It’s a bold move from Cinnober’s CEO Veronica Augustsson and another indication that the back…

U.S. investors brace for mounting political risks as they decode Trump; Volatility Traders Shed VIX Positions as Markets Are Eerily Calm; The Volatility Limbo Newsletter,Options

Lead Stories U.S. investors brace for mounting political risks as they decode Trump David Randall and Jennifer Ablan – Reuters Barry James built up his $4 billion mutual fund largely by studying balance sheets, earnings and market share. In the last few weeks, however, he has realized that he must look at a new force in the market: U.S. President Donald Trump. /goo.gl/iGS2KU ****SD: Out of everybody, I bet Nick Cage and Tom Hanks could figure out how to decipher the code of Trump. Volatility Traders Shed VIX Positions as Markets Are Eerily Calm Carolina Wilson – Bloomberg Assets in…

Michael Kraines Named Chief Financial Officer of Trading Technologies ; Euronext targets family businesses with new initiatives; ‘Brexit’ Talks Can’t Start Without Parliament, U.K. Supreme Court Rules John Lothian Newsletter,Newsletter

First Read Michael Kraines Brings 25 Years of Strategy Experience as Trading Technologies’ New CFO Sarah Rudolph, JLN It’s time for some strategic thinking. Trading Technologies has announced the hiring of its first ever chief financial officer, Michael Kraines. Kraines has been in the fintech business for more than 25 years. Though he knows technology, his background is “really very externally facing,” he said in an interview with JLN. His forte is putting people and companies together, and he hopes to add more partnerships, joint ventures and alliances to TT. “I am a strategy guy and have a background looking…