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John Lothian Newsletter: SEC Charges Direct Edge Exchanges With Failing to Properly Describe Order Types; Transaction-tax plan brings fresh Wall Street battle to Capitol Hill; Turkey agrees derivatives deal with London Stock Exchange John Lothian Newsletter,Newsletter

First Read Bats Pays $14 Million Settling Claims Markets Obscured Rules By Sam Mamudi and Annabelle Ju, Bloomberg Bats Global Markets Inc. is paying a record fine to settle allegations that two stock exchanges it bought last year obfuscated a central part of how their trading system worked. jlne.ws/1Ab3QW1 ***JK: Giving the bad news first… ++++ Bats Global Markets Statement Regarding Today’s Securities And Exchange Commission Announcement BATS BATS announces the conclusion of two separate investigations into the development of order types; one relates to BATS and the other relates to Direct Edge. With regards to BATS, the Securities and…

Speedy Delivery: Keith Ross on HFT, Reg NMS and Dark Pools Interview,Regulation,Tech / HFT,Video

Today’s financial markets can be summed up in three words – global, fast, and complex. But as the market structure evolves, so must the regulatory structure that oversees it. John Lothian News has spoken with several industry experts to create this series on the evolution of financial market structure. In Part 3, Keith Ross, CEO of PDQ ATS offers his thoughts on high frequency trading, Regulation NMS, maker-taker arrangements, and dark pools. He also expresses concern that the recent furor over HFT may lead to hasty decision making by legislative bodies rather than measured, thoughtful changes overseen by regulatory bodies…

John Lothian Newsletter: HK plans retail investor dark pool ban; Fed extends comment period for new commodity rules; SEC Urged to Scale Back ‘Crowdfunding’ Rules John Lothian Newsletter,Newsletter

First Read JLN/MarketsWiki 2014 Annual Survey – Please Give us 30 Seconds of Your Time John Lothian News We say “annual” but, quite frankly, it has been three years since we’ve conducted one, so the last one is getting a little, shall we say, stale. Please click the link below and answer five simple questions. 30 seconds of your time once every three years? It isn’t too much to ask, right? Besides, you might win a valuable prize. jlne.ws/1bOrYYC ++++ Regulators should say who calls the shots Gillian Tett – FT.com When Jack Lew, US Treasury secretary, participated in last…

John Lothian Newsletter: Europe agrees on high-speed trading regulation; IEX to Reveal Dark Pool Operations Data in Challenge to Peers; U.S. SEC to release long-awaited ‘crowdfunding’ rule John Lothian Newsletter,Newsletter

First Read John’s Kaleidoscope Column of Comments Pat Kenny, my friend I designated The Most Interesting Man in the World, was recently diagnosed with a cancerous mass on his tonsils. Pat had the mass successfully removed and will be undergoing radiation and chemotherapy in the next several weeks. The prognosis is good and Pat will be working all while undergoing his treatment. It is business as usual for Pat. Please keep Pat and his family in your prayers. I am sure he will find something interesting to do even while undergoing his treatment. If not before, then it will be…

JLN Options: Shorties Options Will Stand Tall Newsletter,Options

Lead Stories Shorties Options Will Stand TallA new, shorter options contract introduced last week will give investors more flexibility in hedging event-specific risks. Steven M. Sears, Barron’sMost people will tell you they’re long-term investors. They think they are able to ignore the distractions that make others panic and sell. They think they buck the trends, and have the equanimity to buy when others are selling and sell when others are buying.http://jlne.ws/UPga9A***First Weeklys, now shorties, a tool to hedge against volatility-producing market events.– SR Vix volatility index depicting bear market behaviorJeff Greenblatt, FuturesI have good news and bad news. I know…

NYSE Euronext’s Joe Mecane Discusses Their New Retail Liquidity Program Interview,Tech / HFT,Video

Joe Mecane

Joe Mecane is executive vice president and co-head of U.S. listing and cash execution at NYSE Euronext. He spoke with JLN senior editor Sarah Rudolph from the floor of the NYSE about the exchange’s new Retail Liquidity Program, which is set to launch on August 1, 2012. The new program is designed to attract retail traders by offering them better price improvement than the National Best Bid and Offer (NBBO). Orders placed through the program would interact with non-displayed retail price improvement orders provided by retail liquidity providers.