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Tag Archives: CBOE

John Lothian Newsletter: U.S. Stock Exchanges Plot Fixes For Their Glitches; CBOE Eyes Move Into Asia After London Push; U.S. Said Set To Target First Non-Bank Firms For Scrutiny John Lothian Newsletter,Newsletter

Major exchange execs are meeting with some of their biggest customers in an effort to devise plans and changes to reduce future technological and procedural failures. CBOE is said to already be looking past London to Asia as its next target for new offerings. U.S. regulators are now considering the non-bank companies to designate as significantly risky to the overall financial system. In today’s First Read section, take a look at Doug Ashburn’s JLN Forex essay on a fictional parallel universe where markets regard desperate stimulus measures as happy events rather than a sign of trouble; and Sarah Rudolph of…

John Lothian Newsletter: CBOE looks to set up London base; Citigroup to launch commodity trade finance business; Liquidnet launches Philippines dark pools John Lothian Newsletter,Newsletter

CBOE announces plans to expand into London with VIX futures.  Citigroup, seeing the European exodus from commodity trading by banks and other firms, decides to take a seat at the table.  Liquidnet opens up its ninth dark venue in Asia in the Philippines.

John Lothian Newsletter: Man Group Debt Downgraded by Moody’s After Assets Decline; CME to begin clearing silver forwards; SEC Pays $50,000 in First Dodd-Frank Whistleblower Reward; GFI may buy an exchange John Lothian Newsletter,Newsletter

Man Group Plc’s (EMG) credit rating was cut by Moody’s Investors Service.  CME Group has new plans to begin clearing silver contracts, adding that alongside its gold-clearing operation. The SEC rings the bell and hands out its first Dodd-Frank whistleblower payout.  GFI Group, looking at new regulations requiring many transactions to take place on an exchange or trading platform, says that maybe the best answer is to just go buy an exchange in order to keep business going in the right direction.

JLN Options: Will Added Options Platforms Disperse Liquidity? Newsletter,Options

Statistics-Commentary-Insight Note: This week’s newsletter is being “guest-edited” by John Lothian News Editor-at-LargeDoug Ashburn.  Quote of the Day“Options trading volumes may be down across the industry but the buy side continues to remain captivated with the potential of using options in their strategies,” -Andy Nybo, head of derivatives at Tabb Group, in the article, “US Options volume heads for first fall in a decade.” Lead Stories Liquidity to disperse further as new options venues launchThe Trade NewsThe prospect of greater choice between US equity options exchanges is being treated with caution by market observers who claim that fragmentation is already…

John Lothian Newsletter: CBOE to roll out interest rate volatility index; Dutch marketmaker mulls potential sale; Banks bow to EU over limit to bonuses John Lothian Newsletter,Newsletter

CBOE announces the release next week of its first volatility index based on interest rates.  Amsterdam-based high-frequency firm Flow Traders, a big market maker for ETFs, has hired Lazard to explore strategic options, including its sale. The EU appears ready to force banks to limit bonuses paid to its employees, and banks are admitting privately that they might actually have to comply with the new law.  In today’s First Read, John Lothian profiles OneChicago’s David Downey; JLN’s Jim Kharouf takes to the microphone to talk about NYSE Liffe U.S.’s new products; and those who missed yesterday’s featured interview with Per…

John Lothian Newsletter: HK Exchanges gets OK to launch yuan futures; Traders call for changes to broker reporting; Glitches halt new Goldman trade platform John Lothian Newsletter,Newsletter

The Hong Kong Exchange scores a World First, receiving approval to begin trading yuan currency futures later this year.  Fund managers are calling on brokers to change how they report trades, allowing better understanding of who is getting the best results. Goldman Sachs becomes the latest trading platform provider to trip up, announcing delays in the release of its new platform due to “logistical issues.”

Special Report: Chicago Financial Community Readies For NATO Special Report

NATO

On May 20-21 the NATO summit will take place in Chicago. Financial industry firms and exchanges have braced themselves for potential protests and traffic snarls, and even cyber attacks. While the vast majority of entities will conduct business as usual, off site work plans and contingency and disaster recovery maps have been put into place to ensure it’s business uninterrupted.

John Lothian Newsletter: US Appeals Court Revives ISE Patent Case Against CBOE; CME said to be among bidders for London Metals Exchange; Hong Kong markets must adapt, SFC says John Lothian Newsletter,Newsletter

A US appeals court judge reviews the patent decision between ISE and CBOE, and decides to revive the 5+ year running disagreement. The LME says it has received several bid proposals for its purchase, and CME Group may be among the bidders. The Hong Kong exchange (coincidentally also bidding for LME) is being warned by the regional regulator that it’s vulnerable to sticky HFT, dark pool and other situations that are common in other parts of the world, and that it’s time to get moving to address those issues. In the top box, you’ll find a link to Doug Ashburn…

John Lothian Newsletter: CFTC Said to Delay Derivatives Exchange Rule Opposed by CME; LME could introduce yuan settlement in 2014; Banks face tougher trading capital rules John Lothian Newsletter,Newsletter

The CFTC may delay the final vote over requirements for on-exchange derivatives trading, pending more investigation into the rule’s impact. The London Metal Exchange may implement yuan-based settlement by 2014 as it works to build its clearing operation. Proposals from Basel regulators yesterday threaten to close loopholes that would require some banks to hold more capital as a reserve against economic trouble. In the top section, you’ll find praise and memories for Ed Joyce, who is receiving the Joseph W. Sullivan Options Industry Achievement Award; a reminder to visit the JLN Interest Rates newsletter for thorough coverage and commentary about…