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Chicago Wants to Be a Hub for China Stock Trading; Wall Street’s Volatility Pioneer Searches for Latest Fear Trade; Hedge fund redemptions a dismal end to a bad year John Lothian Newsletter,Newsletter

First Read My Picks for CFTC and SEC Commissioners By John J. Lothian 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…

Dismantling Dodd-Frank May Have to Wait; How the Euro Could Break Up—or Be Saved; UK’s May defeated as lawmakers demand power to reject final Brexit terms John Lothian Newsletter,Newsletter

First Read More power to ’em: Nodal acquired by EEX Spencer Doar – JLN The UK doesn’t want ICE to have Trayport. The LSE/Deutsche Boerse deal looks dead in the water. But in one neck of the exchange woods ó power ó all parties appear happy. Last Friday, the energy exchange EEX (part of the Deutsche Boerse empire) agreed to buy the U.S. based Nodal Exchange in an all-share deal, instantly turning the franchise global. /goo.gl/CxWwSC **JK: Our interview with Paul Cusenza about Nodal and EEX. ++++ Playing With No Reserves Sean Brown – YCharts Working at a startup or…

JLN Options: Meet the Biggest Bear Newsletter,Options

Lead Stories Meet the Biggest BearSteven M. Sears – Barron’sRecent trading by one major investor implies that he sees the VIX, now around 16.8, more than doubling by August.http://jlne.ws/1b2QQIu Wall Street Week Ahead: Fed fears may be gone but brace for volatilityAngela Moon – ReutersPanic selling on fears of an early exit of the U.S. Federal Reserve’s stimulus efforts may be over, but the stock market may still face wild intraday swings as investors scramble to position themselves for Friday’s payrolls report.http://jlne.ws/1b2R9TE VIX Sends the Market Good VibesBrian Stutland – CNBCThe market is rising, but not as quickly as the…

JLN Options: OPTIONS REPORT: Industry Opposes Tax Proposal Newsletter,Options

Lead Stories OPTIONS REPORT: Industry Opposes Tax ProposalGregory Bresiger – Traders MagazineTraders’ advocates say a tax proposal now in Congress is bad news for investors and would do serious harm to the options industry.A  draft proposal before the U.S. House of Representatives Committee on Ways & Means calls for taxing unrealized gains and losses on options positions, rather than waiting until any gain or loss is realized as is the current practice. It would also apply ordinary income taxes to any gain rather than capital gains taxes.http://jlne.ws/15JS1H6 Options Investors Remain Wary as VIX Falls  Kaitlyn Kiernan – The Wall Street JournalThe…

JLN Options: Investors sue to block Heinz takeover Newsletter,Options

SPX vs. VIX Trailing 30 Days(click for larger image) Chart and data provided by Livevol New Restoring Customer Confidence VideoThe final scheduled video in our Restoring Customer Confidence series deals with electronic confirmations of customer funds. As the industry continues to deal with these issues, John Lothian News may highlight new ideas or developments in future Restoring Customer Confidence videos. Restoring Customer Confidence More ideas» Confirmations: Plugging Into Electronic Confirmations MarketsWiki.tv Capital Confirmation, which runs Confirmation.com, is credited with helping to unveil the massive $215 million fraud at Peregrine Financial Group (PFG) in July 2012. The web-based audit confirmation service…

John Lothian Newsletter: ICE to Transition Cleared Energy Swaps to Futures; Singapore Exchange to set margin requirements; Fidessa expects tough trading to persist John Lothian Newsletter,Newsletter

IntercontinentalExchange says that the time has come to convert its OTC energy swaps into on-exchange futures contracts.  Singapore Exchange is ready to require clearinghouse-held margin for positions to guard against oversized failure.  Trading tech company Fidessa looks at the financial arena and sees tough times ahead in terms of further consolidation and closure.  In First Read, you’ll find fresh updates including a brand new Jobs page on MarketsWiki; pointers to videos shot in London; and a new MarketsWiki.tv video with Joe Mecane of NYSE Euronext, who talks about the company’s Retail Liquidity Program that launches tomorrow.

John Lothian Newsletter: Global regulators plan margin rules soon for uncleared derivatives; LCH.Clearnet left off U.S. “systemic” list; Jones to leave NYSE Euronext amid restructure John Lothian Newsletter,Newsletter

Regulators around the world plan to suggest rules to require clearing derivatives, but they won’t be ready to do that in time for the June G20 summit. Even though it’s a big player in the clearing sector, LCH.Clearnet was omitted from the “systemically important” list of companies in the U.S., despite suggestions that trouble at LCH.Clearnet would strongly affect the American financial system. The EU considers a plan to create a “banking union” (or perhaps more accurately, “a banking failure union”) to spread around and better absorb the shock that could come from failing institutions within the eurozone. Garry Jones,…