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Tag Archives: CCP

OCC default fund shrinks $3 billion; EU fights over prop trader rules; Iranian derivatives JLN Options Newsletter,Newsletter,Options

Observations & Insight Build or Buy? Exchanges Continue to Branch Out For Revenues Through Acquisition Jim Kharouf – JLN Exchanges are continuing to look at two areas for revenue growth – consolidation and acquisition of non-exchange service firms, according to a new report from Burton Taylor. – The report, presented at the World Federation of Exchange’s General Assembly and Annual Meeting in Athens and authored by Andy Nybo, shows that ICE topped exchanges in revenue in 2017 with $4.6 billion, followed by CME with $3.6 million, Deutsche Boerse with $2.7 billion, LSE Group with $2.5 billion and Nasdaq with $2.4…

Exchange Legacy: WFE Tackles The Question Of The Role Of Exchanges. It’s Much More Than You May Think. Feature

Can exchanges change the world and shape the future? This goes well beyond the traditional mantras that derivatives markets help set prices and offset risk, or stock markets help raise capital for companies. Hats off to the World Federation of Exchanges’ General Assembly and Annual Meeting, being held this week in Athens to ask the questions such as: What is the exchange & CCP role in bringing economies back to life? How do they best enable sustainable development? How can they serve their stakeholders better? Hosted by the Athens Stock Exchange, this year’s meeting venue is located just below the…

VIX lawsuit update; Treasury options; CCP margin Newsletter,Options

Lead Stories VIX MDL Lead Should Have Young, Diverse Attys, Judge Says Lauraann Wood – Law360 (SUBSCRIPTION) The Illinois federal judge overseeing multidistrict litigation over alleged manipulation of the Chicago Board Options Exchange’s volatility index told investors’ attorneys he’ll be looking for details on team diversity and the potential for “substantive work for junior attorneys” in any lead counsel applications they submit. /goo.gl/XRDRsz ****SD: Am I missing something? This feels like code for “please represent yourself with less experienced counsel”? That sounds good for the defense… Treasury Short Bets May Be on Borrowed Time Liz McCormick and Edward Bolingbroke –…

A new generation of anti-Americans; SEC judges appointment violated Constitution John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff We have produced a promotional video for the Crypto Evolved event in New York on Wednesday at the New York Athletic Club. Trading Technologies’ Mike Unetich visited our offices to give the conference a plug. Please take a look and visit www.crypto-evolved.com for more details.~JJL FIA Operations Americas Division members are invited to enjoy food, drinks and an exciting game of baseball at the 18th Annual Summer Outing in Chicago. Join the Operations Americas Division for the Sox v. Yankees on 8/8. Get the details and register~JJL FIA Announces Fourth Annual Innovators Pavilion…

This Is Where People Are Buying Bitcoin All Over the World; Who Wants to Be Bitcoin’s Watchdog? John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Unsurprisingly, yesterday’s STAC panel on cryptocurrency, moderated by Bcause‘s Sean Ristau, looked to be the best attended. The lack of regulatory certainty is the biggest challenge in crypto, as no one is sure yet whether it is going to be considered a security or cash (SEC Chairman Jay Clayton has said “virtual currencies are unlike any commodity that the CFTC has dealt with in the past, and….pose challenges for the SEC as well.”) Clayton and CFTC Chairman Chris Giancarlo are scheduled to speak with the Senate on the matter next month. The CFTC…

As Stocks Reach New Highs, Investors Abandon Hedges; Bond Market Vol at Multidecade Lows Newsletter,Options

Observations & Insight Top Options Stories of 2017 Countdown JohnLothianNews.com Listicles are occasionally the butt of jokes – Buzzfeed knows – but what about listideos? With 2017 in the bag, we at JLN thought we’d recap the year in options with a list of the big stories and trends – and there were a number. Below are links to stories referenced in the countdown. Watch the video and read the rest here » Lead Stories As Stocks Reach New Highs, Investors Abandon Hedges Gunjan Banerji – WSJ Big stock-market gains are leading a number of investors to abandon defensive positions…

Cohn Says Clearinghouses Could Create New Systemic Problem; EU and US agree to accept each other’s derivatives rules John Lothian Newsletter,Newsletter

First Read Hits & Takes Jenny Knott stepped down as CEO of NEX Optimisation. FIA is hiring two people for its communications department: a director of communications working with senior management to develop, implement and coordinate our overall press and public relations strategy and thought leadership; and a director of editorial services managing member and industry communications, the production of editorial content and the delivery of that content to multiple audiences across multiple channels. More information is available HERE.~JJL Registration is now open for CMC’s annual State of the Industry Conference in Miami Beach — January 28-30, 2018~JJL Asia Pacific…

Cloudy with clearing: What the next clearing house looks like Blog,Commentary,Feature,Options

John Davidson joined OCC as president and chief operating officer in May with a firm focus on ushering in the next generation of clearing technology for the world’s largest clearing organization. Davidson is one of several recent executive team hires tasked with executing the switch from one established technology platform to something new. This is no small task for Davidson, who reports to OCC Chairman and CEO Craig Donohue and works closely with Scot Warren, OCC’s executive vice president and chief administrative officer. OCC’s ENCORE system now stands at about 20 years old, and while there have been many upgrades,…

In Shadow of Le Pen and Brexit, Traders Redraw European Strategy; How Wall Street gauges fear in a time of Trump; Global derivatives industry calls for phase-in of new rule Newsletter,Options

Observations & Insight Arrival (not with Amy Adams, Jeremy Renner and Forest Whitaker) Notice anything? MIAX Pearl opened up yesterday, bringing the grand total of U.S. options exchanges to 15. When MIAX announced its plans for Pearl, Jim Kharouf wrote a story about the exchange’s planned structure and a bit about MIAX’s background. It’s worth a revisit (though you will undoubtedly notice that Pearl did not in fact open in Q4 2016, as was initially planned). But seriously, the movie Arrival is solid — two thumbs up. +++++ MIAX PEARL Successfully Launches Trading Operations PR Newswire MIAX PEARL, the newest…