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Donna Heidkamp – Strive for Self Improvement MarketsWiki Education,MWEd,Video,video

“Having the chance to be on the front lines working with the markets is an invaluable experience no matter what you do in the industry, no matter where you end up or what path you take.” In this video from MarketsWiki Education’s World of Opportunity event in Chicago, Donna Heidkamp, executive director at RJO Futures, talks about her first internship with the CME and how it shaped her future. Heidkamp says high volatility is what the industry needs to keep things moving in a positive direction. When volatility is low, people get antsy and start making emotional decisions.     

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…

Gorbachev is Dead! Fake News is Nothing New To The Markets Blog,Commentary,Investing & Trading

Courtesy of Wikipedia

Fake News Is Just Like a Game of Who Wants to be a Millionaire Fake news is nothing new. In fact, it is neither fake nor news. It is something called rumors. A rumor is just talk or opinion widely disseminated with no discernible source or a statement or report current without known authority for its truth. Sometimes it is true, sometimes it is not. Sometimes it was created by individuals to influence a market, sometimes it is just someone misinterpreting something they see. The markets have long dealt with rumors. That is part of the beauty of markets. They…

Execution Equalizer: Christian Hauff Talks Trade Execution Quality and TCA Interview,Tech / HFT,Video

“Today’s financial markets can be summed up in three words – global, fast, and complex.” So began the recent John Lothian News Market Structure series, which looked at the evolution of financial market structure – regulation, innovation, and the debate of the role of high frequency trading. While electronic platforms and trade algorithms have made for more efficient markets, some buyside participants believe it comes at a cost, and the cost is execution quality. Christian Hauff, co-founder and CEO of Quantitative Brokers says these same modern tools can help the buyside obtain better execution, as well as better transaction cost…

FIA Boca Preview: Walt Lukken on the 2013 Outlook for the Futures Industry (Part 1) Interview,Regulation,Video

Walt Lukken FIA Boca

Walt Lukken has had his hands full since taking the top spot at the Futures Industry Association (FIA) in March 2012. With FIA Boca set to start on March 12, JLN editor-in-chief Jim Kharouf spoke with him about the industry over the past year, including the fallout and reaction to MF Global and Peregrine Financial Group, the outlook for brokers and why the president and CEO of the FIA believes 2013 will be better than 2012. In advance of the FIA Boca 2013 conference next week, John Lothian News traveled to Washington D.C. this week to interview Walt Lukken, president and…

FIA Boca Preview: Walt Lukken on the Impact of Regulation on the Futures Industry (Part 2) Interview,Regulation,Video

Walt Lukken FIA Boca

Walt Lukken knows regulation. As a former Commodity Futures Trading Commission (CFTC) acting chairman and commissioner, he has seen the Dodd-Frank rulemaking process first hand. Now, after completing his first 12 months as president and CEO of the FIA, he’s trying to ensure that all those regulations make sense and work for industry participants. With FIA Boca set to start on March 12, Lukken spoke with JLN editor-in-chief Jim Kharouf about where we are in the Dodd-Frank rulemaking process, costs associated with the new rules, and his thoughts on some of the most controversial moves by regulators and exchanges. In advance…

John Lothian Newsletter: TSE bid for domestic rival on knife edge; JPMorgan Shuts Europe Money Market Funds on ECB Rate Cut; Barclays Sued by Investor Over Alleged Euribor Actions John Lothian Newsletter,Newsletter

The Tokyo-Osaka exchange merger continues to hang in the balance, as the recent regulatory approval is followed by shareholder demands.  As European deposit rates go negative, JPMorgan Chase stops taking money market funds there, saying investors may not be able to make a profit. The first class-action lawsuit against Barclays has been filed.  In First Read, John Lothian says another farewell (no, not to this newsletter) and hints at a soon-to-come hello.

John Lothian Newsletter: Derivatives exchanges push back on reform; Nasdaq to Seek SEC Approval for Facebook-Related Compensation to Brokers; E.U. Proposes Centralized Banking Regulator John Lothian Newsletter,Newsletter

Members of the derivatives industry in the U.S. are digging in against new regulations over exchange volume requirements, saying the new rules would force the closure of low-volume contracts, and ruin new product innovations and offerings. Nasdaq, after its less-than-impressive hosting of Facebook’s stock debut, has requested permission to begin apologizing financially to brokers who claim harm from the process. Eurozone officials, in a “we must all hang together” moment, are proposing to give up fully sovereign control of their banking systems in favor of a community model. In the First Read section, you’ll find more analysis of MF Global’s…

Self-Interest of a Customers’ Man Commentary

John Lothian

“John is looking out for his self-interest,” said a reader.  “John must be out money,” said another. It is often assumed that what motivates each of us is our own self-interest.  We could not take a breath without that being true.  We have to breathe. I am not without self-interest.  However, my self-interest in the MF Global case is the best interests of my customers.  The customer comes first.  Always.  Ever. As a futures broker for the last 22 years (and some before that), I am a customers’ man.  That is what the position used to be called; Customers’ Man.