Breaking News

Tag Archives: cryptocurrency

Top Regulator Worries About Crypto Market Manipulation; CFTC ‘astounded’ as Congress prepares to cut budget John Lothian Newsletter,Newsletter

First Read Congressional CFTC Budget Decision Lacks Vision and Reason John Lothian – JLN 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…

Cryptocoin Market Met Its Match?; Blackstone, Thomson Reuters Said to Weigh Tradeweb IPO, Sale John Lothian Newsletter,Newsletter

First Read More Questions Than Answers For A Potential CryptoMarketsWiki ICO John Lothian – JLN In the announcement of CryptoMarketsWiki last week, I mentioned that the project would explore the initial coin offering process from an editorial and strategic perspective. If our due diligence works out, we may go ahead and conduct an ICO and use the token in our business operations. But there are lots of questions to answer before we get there. In fact, there are lots of questions we don’t even know yet, let alone know the answers. However, if we are going to build the central…

SEC Urges End to CAT standoff; Deutsche Boerse plans FX expansion; HKEX working with ASX on blockchain John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Our Page Of The Day yesterday was industry legend Robert J. O’Brien, who turned 100 years old yesterday. His contributions to the industry and interviews with Mr. O’Brien were documented in the RJO O’Brien Centennial Video about the firm’s own 100 year anniversary in 2014, a video produced by John Lothian Productions.~JK Longtime accounting and back office professional Mark Connelly has left the futures industry. He started a new position as senior vice president – operations for All Clean Services responsible for running the Midwest Region. His responsibilities include managing and growing the…

Ten Years After the Bear Stearns Bailout, Nobody Thinks It Would Happen Again John Lothian Newsletter,Newsletter

bear stearns bailout

First Read Hits & Takes JLN Staff Stephen Hawking the physicist who reshaped cosmology has died (via Bloomberg) at the age of 76. HERE is the WSJ’s story too.~JJL Boca Bits: The Singapore Exchange (SGX) saw record FX trading in 2017, with notional value in FX futures of $952 billion since their launch in November 2013, as well as record trading in iron ore of 16 million contracts. It was the first exchange in Asia to offer MSCI Emerging Market futures, and in 2018 SGX plans to complete its suite of MSCI index derivatives to offer investors the ability to…

Spot Trading Closes; EU Fintech Regulatory Roadmap; EU probes UK derivatives tax treatment John Lothian Newsletter,Newsletter

First Read Renato Mariotti for Illinois Attorney General; A Former Prosecutor and Current JLN Reader Is The Best Choice For Illinois AG John Lothian – JLN Democratic Attorney General candidate Renato Mariotti stopped by the John Lothian News offices in the Chicago Board of Trade Building on Tuesday, March 6 for a sit down video interview. He has been a John Lothian Newsletter reader since 2012, and he used the market and industry knowledge he gained from reading the newsletter to bolster his success as a federal prosecutor. Mariotti is a former prosecutor in the US Attorney’s office in Illinois…

HKEx May Have Reached Its Peak; Crypto Could Be Lifeline for CHX; Hundreds of European stocks barred from dark pools John Lothian Newsletter,Newsletter

First Read Statement on Potentially Unlawful Online Platforms for Trading Digital Assets Divisions of Enforcement and Trading and Markets SEC Online trading platforms have become a popular way investors can buy and sell digital assets, including coins and tokens offered and sold in so-called Initial Coin Offerings (“ICOs”). The platforms often claim to give investors the ability to quickly buy and sell digital assets. A number of these platforms provide a mechanism for trading assets that meet the definition of a “security” under the federal securities laws. If a platform offers trading of digital assets that are securities and operates…

Cohn leaving White House; Dash Financial Technologies buyout; Crypto a commodity – judge John Lothian Newsletter,Newsletter

First Read Bitcoin and Blockchain: A WILD Opportunity Sarah Rudolph – JLN Bitcoin is not at the dizzying high it was back in December, but interest in cryptocurrencies and blockchain is still strong. The world of crypto and distributed ledger technology keeps expanding, with CME and Cboe now trading bitcoin futures, companies getting into initial coin offerings, cryptocurrency meetups forming, and the list of cryptocurrencies getting longer every week. Women In Listed Derivatives (WILD) and Morgan Lewis jointly hosted a panel on the future of blockchain and cryptocurrencies Tuesday evening to a packed house. The main takeaway on cryptocurrency from…

U.S. considering ‘material changes’ to ‘Volcker Rule’; Stock Bulls in Trump Country; Replacing Libor is harder in practice John Lothian Newsletter,Newsletter

First Read The Man Who Molded Chicago’s Merc; Leo Melamed, chairman emeritus of CME Group, helped make his company the world’s largest manager of financial exchanges. Now he’s focusing on the development of Asian markets Jacob Bunge – WSJ In 1939, Leo Melamed learned about the power of financial markets in a bakery in Vilnius, Lithuania. He was 7 years old, trying to use Polish money to buy a loaf of bread. Though Lithuania’s government had deemed the two countries’ currencies equal in value, the baker informed Mr. Melamed that he’d need two Polish zlotys for a loaf that cost…

Risks of Crypto Exchanges; Wall Street Loses in Senate’s Reg Reboot; Beware Fintech Firms Bearing Bitcoin John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff See what our friend David Setters is doing protesting in the UK, in ITV’s piece Motor neurone disease patients protest in Westminster. Brave, focused and strong. Keep fighting, David. He issued a special thanks to Cathryn Lyall, Belinda Gooderham, Mark Thornberry, Thom Lant, Mark Gately, FCIM and MCIPR for coming out to support him that day.~JK Chuck Mackie and Rumi Morales were part of a Chicago SunTimes event last week, the story of which is, “Experts break down future of bitcoin, blockchain in Sun-Times discussion.”~JJL From the World Federation of Exchanges latest report,…