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The Spread – Week of 3/26 to 3/29 Video,video

Heyo! Markets in 2018 = not boring. This week in The Spread we cover gyrating indices, a gigantic deal, the resurgence of “exotic” ETPs, the Easter holiday, the start of the MLB season and a few sour notes in the financial media space. The following are the stories referenced in this week’s options-related news recap: CNN – Disgraced Aussie cricketers return home after ball tampering ban Reuters – Exchange operator CME Group to buy Britain’s NEX for $5.5 billion Financial News – CME plans hundreds of job cuts after £3.8bn NEX takeover Automated Trader – Automated Trader Homepage BuzzFeed News…

Volatility Soars on Trade War Talk; Milder Trade Winds Help Ease Chill Newsletter,Options

trade war

Observations & Insight The Spread – Week of 3/19 to 3/23 JohnLothianNews.com The JLN team is back in Chicago to bring you a more conventional episode of The Spread. Thank heavens our teleprompter was back in action – ad libbing a poolside chat was wicked difficult. You are likely up to date on the potential Biden v. Trump title fight that was in the headlines this week, but are you up to date on the week’s happenings in options? Watch the video here » Lead Stories Volatility Soars on Trade War Talk Danny Riley – Nadex These trade wars with…

Bank regulators to revise capital rules for trading risk; The Growing Influence of Asia In Derivatives Trading Newsletter,Options

Observations & Insight Congressional CFTC Budget Decision Lacks Vision and Reason John Lothian – JLN A reasonable person could see that the U.S. Commodity Futures Trading Commission needs an increase in its budget to address the growing responsibility it has acquired over US markets in recent years and the dramatic development and investment in fintech and cryptomarkets. A reasonable person, Democrat or Republican, would vote for the modest increase the CFTC requested unless they suffer from a chronic case of market myopia. But alas, the budget passed by the U.S. House of Representatives cuts the CFTC’s funding by $1 million…

The Spread – The (Out)Take from FIA Boca Commentary,Video,video

After much travel and a spell of ill health, we can confidently say The Spread is back in action. Our “weekly” options news recap will be much more of a weekly affair now. (Flu season is pretty much over, right?) The JLN crew was at FIA Boca last week and your humble host really struggled without our usual teleprompter rig. As such, welcome to a rambling, stumbling version of The Spread that includes some outtakes from my poor pool performance. If you just want the behind the scenes action, skip to the last minute. The following are stories referenced in…

Options investors accuse brokers of fueling sell-offs Newsletter,Options

pointing accuse

Observations & Insight Potential CME-NEX Deal Is Full of History, Dilemma, Risk and Reward John J. Lothian – JLN For many years, the Chicago Board of Trade had cash treasuries envy, wanting to add the trading of cash treasury bonds and notes to its offerings. For many years, the CME has had cash currency trading envy. Both exchanges, now part of the CME Group, have tried to compete in cash Treasury and FX through various collaborations and initiatives. None of them succeeded. Chicago Board Brokerage and FXMarketSpace are long gone, but the desire to add treasuries and cash FX trading…

Legal battle over Credit Suisse ‘volatility’ product expands to second firm Newsletter,Options

legal gavel

Lead Stories Legal battle over Credit Suisse ‘volatility’ product expands to second firm Trevor Hunnicutt – Reuters The legal fight over a complex Credit Suisse financial instrument betting on stock market swings is expanding, with a new lawsuit targeting one of the product’s service providers. An investor on Thursday sued both the bank and the service provider, a unit of Janus Henderson Group PLC, over the VelocityShares Daily Inverse VIX Short-Term Exchange-Traded Note (ETN). jlne.ws/2HGN6RP Hey, Credit Suisse—Just Because You Disclose the Risks of Your Volatility ETN Doesn’t Mean You Can’t Be Sued Crystal Kim – Barron’s Investors were burned…

Cyber threats force US clearing house on to cloud Newsletter,Options

x~OBSERVATIONS Tempers Flare in U.S.-EU Spat Over Clearinghouse Supervision Regulators trade public barbs at industry conference in Florida; CFTC Chairman J. Christopher Giancarlo has repeatedly said that European supervision of U.S. entities would be unacceptable. Gabriel T. Rubin – WSJ (SUBSCRIPTION) Tensions between the U.S. and European Union over the supervision of clearinghouses boiled over publicly on Wednesday, with top regulators trading barbs and recriminations at an industry conference. https://goo.gl/AVF1jG ***SD: We covered the rowdiness and insults traded at yesterday’s “10 Years On” panel featuring Barney Frank. While that was quite the memorable experience, the above spat is the one…

Takeaways From Recent Options Volume Surge; Update on Short Vol Poster Child; VIX seen as incomplete measure Newsletter,Options

Observations & Insight An Array of Recommended Tangents for International Women’s Day Spencer Doar – JLN The “Fearless Girl” statue on Wall Street turned one year old today. Let’s dedicate today’s newsletter to the embodiment of her ideals, shall we? To kick it off, here’s the WaPo with The Fearless Girl statue turns one today. Here’s what she’s inspired. The “failing” NY Times (hah – NYT brought in $1 billion of subscription revenue in 2017) has an all-encompassing outlook – International Women’s Day 2018: Pride, Protests and Pressure. Women in Spain are on strike (link to BBC story). This human…

Dash Buyout; LJM-Wells Fargo lawsuit; Options-based funds study Newsletter,Options

Observations & Insight Bits for Weekly VIX/SPX Expiration Day Spencer Doar – JLN The Onion had a good title for Gary Cohn’s resignation – Gary Cohn Resigns In Protest Of Trump’s Bigoted Comments Towards Aluminum. If you’re wondering when this trade war could kick off – who isn’t? – Axios is reporting that Trump wants to announce tariffs tomorrow and the White House said “this week.” Cboe released an update of its white paper on options-based funds. The 105 options-based funds focused on in the study have AUM of $38.1 billion. Some $8.5 billion of that total comes from the…