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Tag Archives: CBOE

July Options Market Quality Best in 5 Years; Cboe delays FLEX rule Newsletter,Options

Observations & Insight Significant short-term market impact to no-deal Brexit – Hunt Gederts Gelzis – Reuters The short-term market impact will be significant if Britain leaves the European Union without a deal, Foreign Secretary Jeremy Hunt said during a visit to Latvia on Wednesday. /reut.rs/2PbRigX ****SD: Not that this isn’t important to note, but I wouldn’t have this as high up if it weren’t for the great picture of Jeremy Hunt that accompanies the story. Lead Stories July Options Market Quality Best in Almost 5 Years TABB Forum Options LiquidityMatrix The average bid/ask spread in July narrowed, from 0.26 in…

OCC’s move to ‘Cover 2’ won’t cost members more, CRO says Newsletter,Options

Observations & Insight The Spread – 8/10 – Pump up the Vol(ume) JohnLothianNews.com In this week’s recap of happenings in the options world we delve into some confusing terms, Spinal Tap and Recep Erdogan’s plight. Watch the video and see the stories referenced here » ++++ Turkey’s Collapse Sinks Emerging Markets on ‘Manic Monday’ Rita Nazareth and Ben Bartenstein – Bloomberg (SUBSCRIPTION) Turkish measures could be too little, too late, analysts say; Argentine century bond yield surges to 10% as peso tumbles Turkey’s market carnage rippled across emerging markets, sending both stocks and currencies toward their lowest levels in a…

Traders to get VIX advisory notices; Exchange stats; More liquidity concerns Newsletter,Options

Observations & Insight Joe O’Neill, New York Commodity Exchange(s) Executive, Passes Away By John Lothian Longtime New York commodity exchange executive Joe O’Neill passed away on August 4, 2018 at the age of 74. This plain statement tells little of a life lived in the most colorful of times in New York commodity exchange history or a career that included launching the first financial futures (before CME/IMM by 2 years), the creation of the Dollar Index Contract (with the help of Paul Tudor Jones) and being the consultant for the futures trading aspects of the script of the hit movie…

OCC Clears the Path to Greater Capital Efficiencies for Clearing Firms in U. S. Exchange-Listed Options Markets Newsletter,Options

Observations & Insight Trump’s trade ‘extortion’ won’t work, China state media says Andrew Galbraith, Michael Martina – Reuters Chinese state media on Monday lambasted U.S. President Donald Trump’s trade policies in an unusually personal attack, and sought to reassure investors anxious about China’s economy as growth concerns battered its financial markets. /jlne.ws/2OKbxSy ****SD: Also see CNBC’s Beijing is more worried about domestic issues than its trade war with Washington, research firm says and Bloomberg’s chart recap Here Are the Shots Fired So Far in U.S.-China Trade War Lead Stories OCC Clears the Path to Greater Capital Efficiencies for Clearing Firms…

Equity options transparency; Funds That Seek to Hedge the Next Correction Newsletter,Options

Lead Stories Equity Options Transparency: What You See May Not Be What You Get Larry Tabb and Alicia Reilly – TABB Forum With no dark pools, hidden trades, or internalization schemes, and with each execution hitting the tape posted on a licensed and regulated exchange, we love to talk about how transparent the equity options markets are. This has helped propel option volumes to grow to well over 15 million contracts a day in May 2018 as retail customers and firms continue to enter the space. With 15 exchanges and multiple pricing models (some even on the same exchange), however,…

OCC Financial Safeguards Framework Approved by SEC Newsletter,Options

Observations & Insight The Spread – Rimshot Please – 7/27 JohnLothianNews.com We’ve added more props for this week’s episode of “The Spread” for your viewing pleasure! Watch the video and see the stories referenced here » ++++++ Monday Miscellany Spencer Doar – JLN Russell Rhoads has left the Cboe after a decade with the exchange and starts a new role today with the TABB Group. Priceonomics posted a blog about which companies in the S&P 500 generated the most revenue per employee (RPE) in 2017. 13 of the top 20 companies belong to the energy sector – Valero is #1…

Senate Version of Options Markets Stability Act; Caution Hits Options Markets; Millennial FB trader Newsletter,Options

Lead Stories Cboe Global Markets Announces Senate Version of Options Markets Stability Act Cboe Cboe Global Markets, Inc., one of the world’s largest exchange holding companies, announced that Senator Mike Rounds (R-SD) and Senator Tammy Duckworth (D-IL) today introduced S. 3283, The Options Markets Stability Act. bit.ly/2uX1m4Q ****SD: The speed at which this is moving along is encouraging. Caution Hits Options Markets as Liquidity Fears Flare Gunjan Banerji – Barron’s Major U.S. stock indexes have vaulted higher this week—at least until Facebook’s earnings-related plunge jolted the Nasdaq Composite—but the options market is signaling caution. An upbeat earnings season, with the…

Facebook braces for stock wipeout as lower margins loom Newsletter,Options

Observations & Insight Mini-Manipulation Miscellany Spencer Doar – JLN Some of you are probably on the Security Traders Association mailing list. Tuesday’s email discussed FINRA’s surveillance priorities when multiple products are involved. The note is of particular interest for options market participants as the two key areas of focus mentioned are mini-manipulation and anticipatory hedging. The former involves trading a stock in order to benefit its options’ pricing and a common example of the latter is a broker front-running a customer order. (The note is worth a look just for the access to the archival PDF of the SEC’s 1978…

New Cboe VIX case; Market maker tech spend; Virtu in Japan Newsletter,Options

Observations & Insight 10 Years of PHLX @ Nasdaq Spencer Doar – JLN The oldest stock exchange in the United States hit another milestone – the Philadelphia Stock Exchange (PHLX) celebrated its 10-year anniversary as a part of the Nasdaq family on July 24. While the ’07-’08 timeframe is best remembered in financial circles as the time of “bailout this” and “subprime that,” it was a transformational period for non-crisis reasons at Nasdaq. Nasdaq purchased PHLX – founded in 1790 as a venue for bond trading – for $652 million in 2008. At the time PHLX was the third largest…