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Tag Archives: Craig Donohue

Reflections on the Life and Contributions of Robert K. Wilmouth Blog,Regulation,Regulation & Enforcement

Tom Sexton, NFA President & CEO: We have very few of these days at NFA but today is a very sad day.  This morning, we learned that NFA’s first President and Chief Executive Officer, Robert K. Wilmouth, passed away after an illness.  Bob served as NFA’s President and CEO from 1982-2003 when Dan Roth succeeded him.  Afterwards, Bob served as a Special Policy Advisor from 2003-2008. Anyone who was fortunate enough to work with Bob was struck by Bob’s many leadership qualities, including his professionalism and demanding work ethic.  Most importantly, Bob had a deep appreciation and loyalty to every…

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,…

OCC chief Donohue latest to warn over Basel rules; Does a 263% Profit Mean Markets Are Efficient?; What History Says About Low Volatility Newsletter,Options

Observations & Insight June 2017 Options Exchange Marketshare via OCC ++++++ OCC Cleared Contract Volume Up Two Percent in June OCC OCC, the world’s largest equity derivatives clearing organization, announced today that cleared contract volume in June reached 387,597,223 contracts, a two percent increase from the June 2016 volume of 378,908,938 contracts. OCC’s year-to-date average daily cleared contract volume was also up two percent from 2016 with 17,174,603 contracts. Cleared futures volume was up 16 percent in June with 13,194,530 contracts, and securities lending CCP activity was up 27 percent over June 2016 with 1,142,708 new loan transactions. jlne.ws/2tiXQjn ++++++…

Providing Stability for the U.S. Listed Equity Options Market; Virtu – More Market-Making M&A Ahead; The Changing Face of Volatility Newsletter,Options

Observations & Insight Futures For Kids had another successful fundraiser at the FIA IDX Gala Dinner last night, raising more than GBP140,000. Jim Kharouf – JLN Kim Taylor’s kilt challenge raised over GBP12,000, topping Bill Herder’s total last year, on her birthday no less. Next year’s wearer of the kilt is Mark Ibbotson of GH Financials. Over its 10-year history, FFK has raised more than GBP3 million for more than 40 charities in more than 16 countries. Way to go Bill Templer, Emma Davey and the rest of the FFK team. ++++++ Have you checked out the lineup for Trading…

VIX Surge Is Unwelcome Lesson in Duplicity of Volatility Wagers; The Volatility Buyer Known as ’50 Cent’ Just Had a Huge Payday; Don’t Fear The Fear Gauge Newsletter,Options

Observations & Insight CBOE Celebrates Exit of Long-tenured Employees at Chicago Gala By John J. Lothian The CBOE held a gala event at the Aon Grand Ballroom at Navy Pier in Chicago last night to celebrate the long and successful careers of several key employees whose tenure dated back to the nascent years of the exchange. Among those honored were Ed Provost, Philip Slocum, Thomas Knorring, Gerald O’Connell, Thomas Brady, Debra Peters and former chairman and CEO Bill Brodsky. Over 200 years of experience in the world’s first and leading options exchange will retire or move on with the CBOE…

Options Industry Conference Update: Congress Continues To Push For Avoiding Unintended Consequences in Tax and Dodd-Frank reforms Blog,Commentary,Feature,Options

The 35th Annual Options Industry Conference kicked off on Wednesday with a major focus on Washington, especially on a host of new proposals on tax and Dodd-Frank reforms. The conference, hosted by Intercontinental Exchange’s NYSE in Scottsdale, Arizona, led with an interview with Congressman Tom Reed (R-NY 23rd District) who outlined initiatives to address tax reform in 2017. Reed told OCC’s Executive Chairman and CEO Craig Donohue that the tax reform may have enough support in Congress to get it passed this year. As it pertains to the financial industry, Reed said one of the goals of a new tax…

Options Industry Conference Preview Part 2: OCC’s Craig Donohue on Gina McFadden and Changes at the Top of OCC Blog,Feature,Video,video

As the 35th Options Industry Conference gets underway, OCC Chairman and CEO Craig Donohue spoke with John Lothian News about everything from the industry’s first woman to be awarded the Joseph Sullivan Award to executive changes at the clearinghouse. Gina McFadden served in the options industry for almost 40 years. She served as president of The Options Industry Council (OIC) from 2006 to 2013 and executive vice president at The Options Clearing Corporation (OCC). She retired from both of those positions in September 2013. At OIC, McFadden was responsible for business and product development, corporate communications, and investor and internet…

Options Industry Conference Preview Part 1: Is Regulation Damaging the Options Space? Feature,Video,video

The cost of regulation is heavy on certain participants in the options industry, and OCC is trying to help clearing firms and market makers deal with it. “One of the things we’re most focused on is the increased capital burdens of doing business in the industry, and that’s starting to have an effect on liquidity provisions and trading,” Donohue said. By that, Donohue is referring to the risk weighted assets for bank clearing members which fall under various regulatory regimes at the US Treasury and the Basel Committee.  These issues and others will be discussed at the upcoming Options Industry…

OCC’s Moves Continue Blog,Options

Today, OCC announced that John P. Davidson agreed to become president and COO of the organization starting May 8. Davidson was on the OCC’s board of directors from 2002 to 2006 and his 30+ year tenure in the industry encompasses time at Citigroup, Morgan Stanley and two stops at CME Group. Given the pattern of recent hires at OCC, the presence of the CME on Davidson’s curriculum vitae is far from a surprise. Here’s the real rub — this comes right on the heels of this morning’s announcement from DTCC that it hired former OCC President and COO Mike McClain…