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John Lothian Newsletter: SEC brings new charges over global press release hacking scheme; Hedge Fund Citadel Cuts Employees in Wake of Losses; Chinese bid for Chicago Stock Exchange stirs Republicans John Lothian Newsletter,Newsletter

First Read Big Data = Big Money By Jim Kharouf, JLN There is a lot of talk about data in the exchange space today, and given consolidation among exchanges has dwindled, the next frontier in competition is in data services. Exchanges have come under fire in recent years for sticking it to customers with data fees. CME Group is criticized by some in the industry who say they were pounding home fees on data vendors and brokers at a time when end-users could least afford it – but that is unfair. All of the top exchanges are focused on raising…

John Lothian Newsletter: Headcount in trading slashed 20% over last five years; IEX to critics of its U.S. exchange bid: ‘We stand by our words’; Blythe Masters forges blockchain partnerships John Lothian Newsletter,Newsletter

First Read It’s All About Jobs Jim Kharouf and Doug Ashburn, JLN It must be an election year since we’re talking about jobs. And we’re also talking about the future – primarily blockchain. In today’s issue, the two threads are starting to pull together. On the one hand we’ve got a report in The Trade showing jobs in sales and trading have plunged almost 20 percent over the past five years – largely in the fixed income space. And yet, we’re seeing a louder drumbeat of interest and initiative in the blockchain space. The FT story on Digital Asset‘s plans…

John Lothian Newsletter: JP Morgan moves global clearing role to London; IBM’s New Blockchain Bet Targets Next Wave of Financial Services; Fed’s Neel Kashkari Says Banks Still Too Big to Fail Reply: johnlothian@johnlothian.com John Lothian Newsletter,Newsletter

First Read Bits & Pieces Jim Kharouf and Doug Ashburn, JLN Random events and thoughts today. John’s back surgery went as planned yesterday. He’s resting and recovering, and will soon be in rehab. (Physical rehab, not the other kind.) Today marks Chris Hehmeyer‘s final day as chairman of the National Futures Association. Hehmeyer held the position for the past five years, and it will be passed along to another industry stalwart, Mike Dawley from Goldman Sachs. Hehmeyer’s calm and candid approach led the NFA through its darkest days in the aftermath of MF Global, PFG Best and Alphametrix. Along with…