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Tag Archives: Charles Schwab

AI is changing this industry. Now what? Blockchain,Blog,Commentary,CryptoMarkets,Feature,Fintech

I spent last week listening to experts in artificial intelligence talk about what AI can and will bring to the markets and the broader world.   What is patently clear is that AI is here now and is only going to expand. As Jay Biondo, product manager, surveillance at Trading Technologies told me, it’s everywhere already – from Amazon’s Echo (usually called Alexa) to Netflix’s suggested picks. It’s part of Charles Schwab’s brokerage service which will allow its brokers to service thousands instead of hundreds of customers, according to Jack Boyle, vice president derivatives & trading support at Charles Schwab,…

Trump’s Year of Low Volatility; Derivatives add value – study; Cboe’s sector options Newsletter,Options

Lead Stories A year after Trump’s election, market volatility has eluded everyone CNBC It’s been a year since consensus opinion was punctured by a Donald Trump electoral win and a market rally that deflated Wall Street oddsmakers’ view that a Clinton loss would slam stocks. Yet even the small minority expecting a Trump victory and positive market response mostly thought heightened market volatility would be a feature of an establishment-deriding president set on raising the economic metabolism and waging trade wars. jlne.ws/2AjoJpF ****SD: The FT has an array of charts encapsulating Trump’s year in office thus far here. Derivatives add…

HFTers adjust; “Low” VIX in context; Chinese firms rush to FX hedges Newsletter,Options

Lead Stories High-frequency traders adjust to overcapacity and leaner times Nicole Bullock – Financial Times Recalling the years around the financial crisis may still bring a shudder to many on Wall Street, but for high-speed traders 2008-2009 were pay dirt. The high-frequency trading industry was still in an early stage. Recent regulatory change, opening the way for competition, and computing advances had paved the way for its rapid development. As markets took fright through the crisis, there was plenty of price volatility and high volumes of asset dealings — the raw materials for any trader to make money. jlne.ws/2ydkdKX ****SD:…

Freakish Peace Envelops Bull Market as Eighth Year Rolls By; While Donald Trump may have stocks up, some hedge funds managers are bracing for a selloff; Fed Takes Fear Out of Markets as Volatility Plunges in Bonds, FX Newsletter,Options

Observations & Insight Long-Time Options Industry Leader Gina McFadden is First Woman to Receive 2017 Sullivan Award OCC OCC, The Options Industry Council (OIC) today announced that Gina McFadden, a long-time leader in the U.S. listed equity options industry, will be the first woman to receive the 2017 Joseph W. Sullivan Options Industry Achievement Award. This award is given to individuals in recognition of outstanding contributions to the U.S. options industry. The award will be presented at the 35th Annual Options Industry Conference on May 12 in Scottsdale, Arizona. jlne.ws/2mYvRoO ****SD: Congratulations! She is also our MarketsWiki Page of the…

John Lothian Newsletter: Eurex to relaunch Euribor; SEC Eyes Charles Schwab Exec For Top Post; LSE optimistic as total income rises 5pct John Lothian Newsletter,Newsletter

Exchange Eurex is said to be almost ready to launch a Euribor product to compete with Liffe and Nasdaq’s new NLX platform. The U.S. SEC considers the possibility of tapping a Charles Schwab exec to head up oversight for stock markets and trading companies. The London Stock Exchange posts positive numbers and sees reason for hope in the future.

Who Wants In? Commentary,Regulation,Tech / HFT

Ticket Seller

On October 30th, the day before MF Global declared bankruptcy, I (John Lothian) wrote an email to some industry leaders expressing my strongly-held belief that there would be no deal to buy MF Global. The biggest reason was that there “has not been any player in recent years that has come into the futures brokerage business and acquired companies with MFG’s model and proven successful,” I wrote. The futures commission merchant (FCM) business model is broken, with no better example than by the struggles of MF Global.  It is hard to earn profits when a major revenue input to your business model includes interest…

Tony McCormick to be named CEO of Boston Options Exchange Blog

The John Lothian Newsletter has learned that Anthony (“Tony”) McCormick, formerly an executive with Charles Schwab and a CBOE board member, will be shortly be named CEO of the Boston Options Exchange. McCormick will begin work at BOX, as the exchange is known, on Monday. McCormick is a long-time derivatives industry executive whose experience spans futures, options and stocks. He currently serves as a board member of the Options Clearing Corporation. He formerly was a member of the board of the Chicago Mercantile Exchange, where he served along side current TMX CEO Tom Kloet. TMX is the majority owner of…