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Tag Archives: derivatives

Exchanges on offensive in market data cost dispute; Bitcoin turns boring John Lothian Newsletter,Newsletter

First Read POV: Are Publicly Traded Exchanges Sticking It To You? Jim Kharouf – JLN There is a recurring criticism of publicly traded exchanges – that they are not serving the needs of their customers, all to satisfy shareholders. Such was the essence of the argument by James Andrus, an investment manager from CalPERS, the California pension and investment giant. On a panel at the World Federation of Exchanges annual meeting last week in Athens, he said stock exchanges are bending to the desires of listed companies on their exchanges on proxy voting rule changes and other policy changes at…

Banks Are Getting Squeezed by the Fight Against Dirty Money John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Here is the agenda for today’s CFTC Technology Advisory Committee meeting in Washington, DC. The meeting should be live streamed if you are interested in watching any of it.~JJL The CFTC and ASIC signed FinTech Cooperation Arrangement at the FinTech Forward conference at the CFTC in Washington, DC yesterday and I got to see it. I will always remember my first FinTech Cooperation Agreement witnessing.~JJL As the Chicago Tribune reports, the “much-derided corporate moniker of Tronc” is going the way of the dodo. Welcome back, Tribune Publishing! ~SD ++++ ++++ The Tinder for…

Eris Exchange to Create Crypto Market Backed by DRW, Virtu John Lothian Newsletter,Newsletter

First Read Brexit Has Industry Participants Prepping For “Worst Case Scenario” Jim Kharouf – JLN Industry participants are preparing for a worst case scenario with the UK Brexit coming next March. Frustration with the process and lack of political leadership was palpable at the World Federation of Exchanges Annual Meeting in Athens. On a Brexit panel Thursday, industry executives said the damage to UK and EU markets could be severe. “Brexit is making the European market smaller and it will take years to rebuild,” said Jarkko Syyrilä, head of public affairs at Nordea Wealth Management. “Politics is completely destructive. We…

Inside Danske’s EUR200bn ‘dirty money’ scandal John Lothian Newsletter,Newsletter

First Read Build or Buy? Exchanges Continue to Branch Out For Revenues Through Acquisition Jim Kharouf – JLN Exchanges are continuing to look at two areas for revenue growth – consolidation and acquisition of non-exchange service firms, according to a new report from Burton Taylor. – The report, presented at the World Federation of Exchange’s General Assembly and Annual Meeting in Athens and authored by Andy Nybo, shows that ICE topped exchanges in revenue in 2017 with $4.6 billion, followed by CME with $3.6 million, Deutsche Boerse with $2.7 billion, LSE Group with $2.5 billion and Nasdaq with $2.4 billion….

OCC taps AI for security; Option Traders Scared to Bet Against Market Meltup JLN Options Newsletter,Newsletter,Options

Observations & Insight The Spread – Bumpy Road – 10/1 JohnLothianNews.com A speed bump? For options? Say it ain’t so, Joe! Oh, it is so? Cool. For more details on the latency development at Eurex, tune in to this week’s episode of “The Spread.” Watch the video and see the stories referenced here » ****SD: Quick note/update via Eurex – the latency protection functionality discussed in the above episode will be available with the annual T7 system release but IS NOT going live in December. The exchange has built the tool and is deciding whether or not it will go…

Charles Schwab Has a $3.6 Trillion Edge on the Fintechs John Lothian Newsletter,Newsletter

First Read Exchange Legacy: WFE Tackles The Question Of The Role Of Exchanges. It’s Much More Than You May Think. By Jim Kharouf – JLN Can exchanges change the world and shape the future? This goes well beyond the traditional mantras that derivatives markets help set prices and offset risk, or stock markets help raise capital for companies. Hats off to the World Federation of Exchanges’ General Assembly and Annual Meeting, being held this week in Athens to ask the questions such as: What is the exchange & CCP role in bringing economies back to life? How do they best…

Investors Say They Were Harmed by Manipulation in Volatility Products Newsletter,Options

Observations & Insight OCC Cleared Contract Volume up 8.7 Percent in September Press Release OCC, the world’s largest equity derivatives clearing organization, announced today that total cleared contract volume in September reached 365,152,938 contracts, up 8.7 percent compared to September 2017 volume of 335,867,813. OCC’s year-to-date average daily cleared contract volume is up 18.6 percent with 20,209,877 contracts compared to 17,038,958 contracts in 2017. Options: Overall exchange-listed options volume reached 358,572,914 contracts in September, up 10.3 percent from September 2017. Equity options volume reached a total of 322,566,988 contracts, a 14.3 percent increase from September 2017. This includes cleared ETF…

How Dirty Money Disappears Into the Black Hole of Cryptocurrency John Lothian Newsletter,Newsletter

First Read Introducing Bitmain By Thom Thompson – JLN In preparing for its IPO, Bitmain, a Chinese bitcoin-mining services firm, has provided detailed insights into its operations. As one of the largest business entities in the industry and occupying as it does a central position in the industrial organization of bitcoin, Bitmain’s filings reveal a lot about the forces behind cryptocurrency economics. BitMain Technologies Holding Company is the world’s largest producer and seller of bitcoin mining equipment. On Wednesday, September 26, they filed a much anticipated (draft) prospectus for an IPO on the Stock Exchange of Hong Kong. Since it’s…

CFTC Faces Cash Crunch, Offers Buyouts; Markets face race to end Libor links John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff A story of violence reported in the local newspapers about a man who stabbed his wife to death in a suburb of Chicago hit home when I read the name of the accused. Gary A. Kamen, a long time industry professional in our markets, was the accused murderer. He is charged with two counts of first-degree murder stemming from the fatal stabbing of Karyn Kamen, 53, authorities said. A judge set bail at $10 million Sunday for the 55-year-old Kamen, of Deerfield, IL. I met him first when he was working with a…