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Tag Archives: Chris Giancarlo

Congressional CFTC Budget Decision Lacks Vision and Reason Commentary,Feature

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 to $249 million, and reason was not what ruled the day. The adjective that comes…

Clayton and Giancarlo on Crypto; Aramco IPO Implications; May’s Brexit talk John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff The Chairman of the Commodity Futures Trading Commission (CFTC), J.Christopher Giancarlo, will be a keynote speaker at Boca 2018! You looking for something to trade? CME is holding a course: Introduction to TOPIX on the Tokyo Stock Price Index (TOPIX) and Yen-denominated TOPIX Futures, which are set to launch on February 5 at CME Group. Gain a basic understanding of how to incorporate TOPIX futures into a trading strategy and how the contracts compare to Nikkei 225 Index futures.~JK JLN will be issuing a Special Report this morning on some embargoed news. Stay…

Automation in FX markets; Giancarlo warns EU to stay off clearing turf; Rolet’s awkward departure John Lothian Newsletter,Newsletter

First Read ABN AMRO Loves Fidessa By John Lothian – JLN The romance between ABN AMRO Clearing (ACC) and Fidessa is a strategic and growth-oriented one and the relationship is driven by James Fairweather. James Fairweather is the global head of execution services at ACC . He is driving this installation and rollout of Fidessa’s systems at ACC. ABN AMRO Clearing is hoping to expand beyond active traders into services for corporate clients and even prime broker services, and Fairweather said Fidessa’s platform is the right fit for the job. “The breadth of technology was better with Fidessa,” Fairweather said…

Senate panel votes to advance CFTC chairman nomination; CFTC reaches first non-prosecution deal with ex-Citigroup traders; TP ICAP reshuffles senior management John Lothian Newsletter,Newsletter

First Read Identifying Problems And Solutions By Jim Kharouf, JLN At the FIA IDX conference in London earlier this month, the second day of the event concentrated heavily on post-trade issues and trends. We spoke with six executives from firms that are focused on the problems and solutions in that space. Take a look at the two short videos below to hear what they said about each question. The post-trade arena has fast become one of the most competitive sectors in recent years with new firms jumping into the space and incumbents launching new platforms. In April, we wrote about…

Cold as ICE: Sprecher asks UK, How much do you love me? Feature

In the battle for financial markets in Europe, exchanges would like some more communication about why they should stay in the UK. To hear one exchange leader tell it, UK markets could use a little more love. At the 10th annual FIA IDX conference on Tuesday, ICE Chairman and CEO Jeff Sprecher said UK regulators have not communicated with ICE much about how they could work together and keep ICE Europe’s operations more firmly in London.  In the wake of Brexit and the upcoming MiFID II rules in January, not to mention the ongoing questions about equivalent financial regulations after…

The Incredible Shrinking WMBAA: ICAP’s Departure from Industry Association a Sign of the Times Commentary,Financials

ICAP, the largest inter-dealer broker and operator of two swap execution facilities (SEFs), confirmed yesterday that it is pulling out of the Wholesale Markets Brokers Association, Americas, an industry advocacy it helped form six years ago. “ICAP and the four founding members of the WMBAA shared many common goals and interests when the organization was established in 2009,” according to an ICAP spokesman. “The US political system has since created and implemented the Dodd-Frank Act and the bulk of global regulatory reform efforts have now moved to Europe and beyond. We therefore believe ICAP’s efforts are best directed outside of…

John Lothian Newsletter: China’s Incendiary Market Is Fanned by Borrowers and Manipulation; Flash Boys Welcome: World Exchanges Woo High-Frequency Traders; Regulators Tie High-Speed Trading to Treasury Volatility Blog,John Lothian Newsletter,Newsletter

First Read Bits & Pieces By John J. Lothian It is storming in Chicago today. Tomorrow, weathering permitting, Jim, Doug, Patrick and I head to New York for the Summer Intern Education Series at the New York Stock Exchange on Wall Street on Wednesday, July 15. There is still seating available, so sign up today. In Chicago, we have limited seating for the last day’s event, and we have promised some of it to the CME as this year’s Global Premier Sponsor. Thus, if you want to hear Chicago Mayor Rahm Emanuel and CME Group CEO Phupinder Gill at Trading…

2012 SEFCON III Highlights Regulation,Video

2012 SEFCON III

During 2012 SEFCON III John Lothian News interviewed five key members of the WMBA. Click here to see all the interviews. The Wholesale Markets Brokers’ Association Americas (WMBAA) is an industry advocacy group made up of five inter-dealer brokerage firms (IDBs): BGC Partners, GFI Group, ICAP, Tradition and Tullett Prebon. Since 2010, the WMBAA has hosted an annual conference on issues surrounding swap execution facilities (SEFs), a new type of financial transaction execution entity created by the Dodd-Frank Act. On November 13, 2012, John Lothian News Editor-at-Large Doug Ashburn attended the third such conference, 2012 SEFCON III. This video features…

Chris Giancarlo of GFI Group Discusses the Need for Regulatory Balance Interview,Regulation,Video

Chris Giancarlo

During 2012 SEFCON III John Lothian News interviewed five key members of the WMBA. Click here to see all the interviews. Chris Giancarlo, executive vice president, GFI Group worries that US regulation may not be balanced, and that it is mismatched with non-US markets. One area in particular that concerns him is on voice broking of OTC derivatives. Though the CFTC has pushed hard for more electronic execution of OTC trades in its Dodd-Frank Act rulemaking, Giancarlo says many of these types of transactions are illiquid and best done as voice negotiated transactions. In an interview with John Lothian News…