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Tag Archives: CFTC

White House Weighs Renominating Ex-House Aide to CFTC; Russell 2000 Index Futures and Options to Return to CME Group July 10; Big US banks defy calls they should be broken up John Lothian Newsletter,Newsletter

First Read Good Friday By John J. Lothian Many markets are closed today for the Good Friday holiday. This was not always the case. I spent many a Good Friday in my day working my trading desk for markets that were open. Yesterday I learned something about the word “Eucharist” when a customer of the Jewish faith wished me “Happy Thanksgiving.” Eucharist in Greek means Thanksgiving. My minister shared this definition during our church’s Maundy Thursday service. Many years ago, when I was on the board of deacons of the church I grew up in, we used to recreate the…

Empty Seats at Regulators Hold Back Trump Bid to Undo Dodd-Frank; Clearing houses see record volume as new rules boost activity; ETFs Are the New Bond Kings John Lothian Newsletter,Newsletter

First Read End of a Series Today concludes our annual Exchange Leaders Series from FIA Boca, with an interview with Matt Chamberlain, interim CEO at the LME. In all, the series included eight different exchange executives who sat down to speak with us at the conference last month. If you haven’t seen them, they are all included below. Each has their own way of summing up 2016 and what is happening at their respective markets in 2017. The FinTech Exchange conference tickets went fast yesterday. Thanks to all who played. The conference is in Chicago on April 27. Tickets, just…

OCC to require members to test default process; Soymeal leads China charge into commodities derivatives; Trouble at Tradebook? Newsletter,Options

Observations & Insight JLN Exchange Leader Series 2017: LSEG’s Hackett on a Clear Path Forward JohnLothianNews.com In just a few years, London Stock Exchange Group has doubled its U.S. headcount to nearly 500 employees. That’s just one indicator that this division of that LSEG is doing well across a variety of its operations. Ali Hackett, USA Country Head for London Stock Exchange Group, spoke to JLN about the importance of the customer in continuing LCH’s expansion. Since the financial crisis, regulators have adopted rules that have pushed clearing and trading onto exchanges. But there is still a demand from clientele…

CBOE Holdings Announces First Stages of Technology Integration Plan; MiFID unbundling and best ex set to have global impact; Fed’s Evans says he supports one or two more rate hikes this year Newsletter,Options

Observations & Insight Trigger pulled! A collection of UK news Not only was Brexit “triggered” since our last newsletter, the European Commission put the final nail in the proposed LSE-Deutsche Boerse merger. There’s a ton out there on the two subjects. I’ve cobbled together an array of stories about the two events so you can pick and choose. For a one stop shop, check out The Guardian as it has a live updates page that covers both the failed merger and Brexit proceedings. LSE-Deutsche Boerse stories Financial Times – Brussels blocks London Stock Exchange-Deutsche Börse merger Financial News – LSE-Deutsche…

Post-Bitcoin Technology Has Geeks, Giants, and Hackers Excited; Acting SEC chair plans test to lower exchange fees; Cowen Group in talks to buy brokerage Convergex John Lothian Newsletter,Newsletter

First Read Bits & Pieces By John J. Lothian John Lothian News has learned that OCC President and COO Mike McClain has resigned and left the organization. His last day was two days ago when the OCC held a goodbye event in Chicago. The official narrative is that he left for personal reasons, including the continued attention to his wife, who is battling illness. Other sources have cited the high turnover the OCC has seen in recent years and some of the pressures at the core of that for McClain’s departure. McClain had been with the OCC for 15 years…

Virtu Financial Makes Bid to Acquire KCG Holdings; Ovation for new CFTC chief reflects hopes, raises risks; US regulator reveals broad push to revamp derivatives rules John Lothian Newsletter,Newsletter

First Read How do we make American markets great again? Keep it simple, stupid. Spencer Doar – JLN CFTC Commissioner Christopher Giancarlo detailed his plan for the agency after being nominated by President Trump as chairman of the Commodity Futures Trading Commission on Wednesday at FIA Boca. Gene Simmons would be proud — the new initiative is called Project KISS (Keep It Simple, Stupid). KISS has three key goals: fostering U.S. economic growth, enhancing markets and “rightsizing” the agency’s footprint. All of these tie into Giancarlo’s overarching point about the agency — it has lost sight of its regulatory goals….

How do we make American markets great again? Keep it simple, stupid. Blog,Commentary,Feature,Regulation & Enforcement

CFTC Commissioner Christopher Giancarlo detailed his plan for the agency after being nominated by President Trump as chairman of the Commodity Futures Trading Commission on Wednesday at FIA Boca. Gene Simmons would be proud — the new initiative is called Project KISS (Keep It Simple, Stupid). KISS has three key goals: fostering U.S. economic growth, enhancing markets and “rightsizing” the agency’s footprint. All of these tie into Giancarlo’s overarching point about the agency — it has lost sight of its regulatory goals.  On the topic of fostering U.S. economic growth, Giancarlo took a big picture look at the tumult of…

Trump Nominates J. Christopher Giancarlo as CFTC Chairman; Trump Picks a Regulator Who Could Help Reshape Dodd-Frank Act; Untested Robo-Advisers Are Becoming a Big Market Risk John Lothian Newsletter,Newsletter

First Read Don Wilson Gobsmacks Regulators in First FIA Boca Panel By John J. Lothian In a power-packed first panel at the FIA International Conference in Boca Raton, Florida, DRW founder Don Wilson gobsmacked the regulators with a directly-to-the-point opening statement. Here it is: “When it comes to regulatory costs, I describe what we’re in now as an era of “gotcha” regulation. Enforcement arms of regulatory agencies are more interested in collecting fines and generating headlines than in making markets better. I am hopeful that, under the new administration, regulatory agencies will work with market participants to make the markets…

My Picks for CFTC and SEC Commissioners Blog,Commentary,Mwiki,Politics,Regulation

Despite repeated inquiries to knowledgeable industry players, there is little buzz about prospective new CFTC and SEC Commissioners outside of the chairmen. So if there is no buzz, then let’s create some of our own in time for the FIA Boca Raton International Conference.  I am going to give you my top ten potential candidates for each commission in alphabetical order. That they are on the list does not mean they would be willing to serve, but it does mean I believe they are eminently qualified to serve. I am also going to share with you honorable mentions. These are others…