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Two futures exchanges call for post-Brexit Mifid rethink; CME Group and JPX Announce Contract; Systemic risks of clearing John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Today’s top story, Two big futures exchanges call for post-Brexit rethink on Mifid, reiterates what Jeff Sprecher said in April 2017 as covered by Business Insider, “Not to sugarcoat it, I think it [MiFID II] is the worst piece of legislation I’ve ever seen in the history of my career.” But he’s been blasting it since 2016.~JK Eric Piscini of Deloitte Consulting wrote that advancements in the coming months will make the use of blockchain platforms “easier than ever. And it will happen across the main stacks of Hyperledger, ethereum and Corda, among…

Frankfurt Winning Battle for Brexit Bankers; End of 47-Year Japan Rice Program; Smart beta funds pass $1tn John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Spencer Doar’s weekly JLN Options video feature, The Spread, continues to get better. This last week’s was a beut.~JJL Holy smokes. Get this: “The Legends Room, the world’s only blockchain based nightclub, rings in 2018 with two incredible nights of crypto fun. On Saturday, December 30th, the Legends Room presents Samantha Ronson and Saint Clair. On Sunday December 31st, the club will feature Post Malone and 21 Savage together.” I do not like this, Sam-I-am. But hey, it’s Vegas, right?~SD The JLN Team has cancelled their in the office meeting today, rescheduling for…

Bitcoin futures start trading; IEX and LTSE team up; Another Deutsche Boerse leadership change? John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff If you, too, want to help crash the Cboe website, or check out its bitcoin futures prices, you can click HERE.~JJL As of 7:20 AM Chicago time, 2918 contracts of Cboe bitcoin had traded.~JJL Breaking news: A pipe bomb exploded at the Port Authority Bus Terminal near Times Square. One person is reportedly in custody and he apparently was the only one injured.~JK Congratulations to the CME Group, which raised $186,000 for its Movember Foundation campaign, including its $125,000 corporate donation, to shine the spotlight on men’s health in the areas of…

BTC Futures Coming From Team That Rebounded From Epic Snafu; Big banks not willing to support BTC futures John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff The @JohnLothian Twitter account received 65,120 original impressions yesterday, which is a record for the last 28 days. My LinkedIn profile searches are up 48% for the week.~JJL Yesterday I attended an event hosted at the Art Institute of Chicago by RBC Global Asset Management about responsible investments. The speaker and panel discussed ESG investing, which I did not know about. ESG stands for Environment, Societal and Governance. Later in the day I was able to apply what I learned during a meeting of the endowment committee of my church, of which…

Bitcoin certifications; Least Volatilite Year Ever?; Interactive Brokers customers file complaint Newsletter,Options

Observations & Insight Putting on My Broker Hat About Bitcoin John J. Lothian – JLN Everyone is asking about bitcoin. A journalist called and asked to interview me. A magazine called and asked me to write something. A brokerage firm chief risk manager called to ask me my opinion about bitcoin and bitcoin futures. Two weeks ago, a former employer I have not seen in 10 years called me out in Coindesk.com for my bitcoin qualms. At the dinner table my son Robby opened up about owning not just bitcoin, but bitcoin cash, ether and monero. This is a full-fledged…

CFTC Opens Way to Bitcoin Futures; More Bitcoin; Brexit May Leave Banks on the Hook for Impossible Contracts John Lothian Newsletter,Newsletter

First Read Putting on My Broker Hat About Bitcoin By John J. Lothian, JLN Everyone is asking about bitcoin. A journalist called and asked to interview me. A magazine called and asked me to write something. A brokerage firm chief risk manager called to ask me my opinion about bitcoin and bitcoin futures. Two weeks ago, a former employer I have not seen in 10 years called me out in Coindesk.com for my bitcoin qualms. At the dinner table my son Robby opened up about owning not just bitcoin, but bitcoin cash, ether and monero. This is a full-fledged mania….

VIX-Yield Curve – At the Door of High Volatility?; Limits of Pound Gains; Sector correlations Newsletter,Options

Observations & Insight What Organizations Need to Know about Risk Culture Audits John Fennell – Risk Management Monitor Today’s risks require more proactive oversight by boards of directors on the issue of risk management. Transitioning to this approach is easier said than done, however. The trouble is that many organizations are weighed down by antiquated risk management frameworks that prevent them from being proactive. Even today, how financial services and other industries address risk is deeply ingrained in organizations’ character, requiring a broader change which extends beyond simply implementing new risk management frameworks. bit.ly/2BuLlVD ++++++ U.S. Securities Markets Coalition Opposes…

LSE’s Rolet quits; Regulators look to shine more light on Treasury market; City closes ranks over Rolet John Lothian Newsletter,Newsletter

First Read Jim Kharouf Resigns as CEO of John J. Lothian & Company, Inc.; Will Continue Work with Company in Freelance Role Jim Kharouf is stepping down as CEO of John J. Lothian & Company, Inc. at the end of the year after having assumed the role on January 1, 2017. Kharouf is leaving the company as an employee, but will continue to work with John Lothian News and John Lothian Productions as an independent contributor. He will also be exploring his own bespoke initiatives, including in the Fintech sector. Despite accomplishing much during his tenure at the company and…

LedgerX Initiates First Long-Term Bitcoin Option Price at $10,000; Low vol paradox Newsletter,Options

Observations & Insight FUD on All Sides: In Defense of CME’s Bitcoin Plan William Mallers – Coindesk I’m a member of the Chicago Mercantile Exchange. I’ve also been a bitcoiner since 2013. So, when CME Group announced its intention to launch bitcoin futures in the coming weeks, I thought, “Great! Way to go, CME.” bit.ly/2hSpzG8 ****SD: Pretty much Mallers vs. John Lothian. Go to the comment section for a ton more fireworks. Here’s a Bloomberg piece – A Hacker Warning for Bitcoin – from today in light of the Tether heist. Lead Stories LedgerX Initiates First Long-Term Bitcoin Option Price…