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Credit derivatives market woes deepen after ICE exit; Central bankers face a crisis of confidence… John Lothian Newsletter,Newsletter

First Read We All Love Data: Barchart’s Latest Move Continues The Trend Of Firms Pushing Further Into The Data Space Jim Kharouf, JLN It’s all in the data. Yesterday’s announcement from Barchart about its new commodities data offering, called cmdty, is part of the drumbeat of new products and services that are designed to bring something new to the market participants they serve. jlne.ws/2yhzdYS ++++ Hits & Takes By JLN Staff The Boy Scouts of America announced yesterday they are opening the doors to girls to join Cub Scouts starting next year and older girls to join Boy Scouts in…

John Lothian Newsletter: US exchanges urged to act in HFT debate; Banks to Settle With Investors in Suit Over Financial Crisis; Fears grow over US stock market bubble John Lothian Newsletter,Newsletter

First Read Bits & Pieces: A Close Call and a Beautiful Weekend By John J. Lothian On a bike-trip Boy Scout campout this weekend one of our vehicles was totaled, when a cement truck barreled into the back of a minivan at an intersection, pushing it into one of our cars. No one was hurt with only a driver in the vehicle, but the minivan was totaled, with the third seat crushed into the second seat. A second car, belonging to my Boy Scout Troop committee chair, was in front of the minivan and had his bikes, rack and the…

John Lothian Newsletter: Precious Metals Trading Is Probed by EU After U.S. Investigation; Credit derivatives clearing catches on; VIX Didn’t Update for 30 Minutes on Erratic Options Quotes John Lothian Newsletter,Newsletter

First Read Bits & Pieces By John J. Lothian Just as this newsletter was about to go to press, I learned a longtime friend has died. Jim Hayes passed away last night surrounded by his family. I met Jim in the early 1980s. He was a neighbor and good friend of Thomas J. Cashman, who helped me get my start in this industry. Jim also helped get me my start and in a way had a hand in this newsletter. Jim was was the Hayes in Hayes & Griffith, a small investment banking firm focused on futures. It was Jim…

Swap Meet: Eris Exchange’s Neal Brady Sees Capital Efficiency Driving Growth of Standardized Swap Contracts Interview,Regulation,Video

In September 2009 the leaders of the G-20 met in Pittsburgh to hammer out a coordinated approach to regulatory reform. Chief among their concerns in the wake of the financial crisis was a lack of adequate capital backstopping the system. Now, several years later, Basel III and other capital rules are coming into into force, making efficient use of capital a global priority. As Eris Exchange’s swap futures contracts continue to set new volume and open interest records, Eris CEO Neal Brady sat down with John Lothian News editor-at-large Doug Ashburn to discuss the emergence of swap futures as an…

John Lothian Newsletter: White House Asked Gensler to Stay at CFTC; Nasdaq Sees Deal Possibilities in Forex, Bonds; ISDA Plans Biggest Overhaul to Credit Derivatives Since 2003 John Lothian Newsletter,Newsletter

Gary Gensler is asked for a second dance as head of the CFTC by the US administration; no word yet on whether he’ll accept. Nasdaq thinks they’re more likely to acquire interest in additional markets such as currencies and bonds, as a way to expand, rather than hooking up with another major exchange player. The ISDA is looking at a major overhaul of its rules of play for the global credit derivatives industry, including new rules to handle sovereign debt exchange.