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Brexit Has Industry Participants Prepping For “Worst Case Scenario” Feature,Newsletter,Regulation

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 are just six months away and we have no clarity on what is going to…

Big banks win dismissal in U.S. of bond rigging lawsuit; Finally, CME honors its investors John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff In case you were wondering who CME Group’s Class B board members are: Jeffrey M. Bernacchi, Gedon Hertshten and William W. Hobert were elected in May for one-year terms. CME’s Class B-2 directors are Ronald A. Pankau and David J. Wescott. The Class B3 director is Elizabeth A. Cook. There soon may only be three.~JK In PanXchange’s most recent newsletter, CEO Julie Lerner writes that she is “exploring the appetite to launch a global physical commodity blockchain alliance” with the goal of developing a roadmap for blockchain applications by those who actually know…

U.S. Launches Probe into Bitcoin Price Manipulation; Fed to consider Volcker Rule modification John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Word has it that Kraken is about to open an office in Chicago, following a move by Coinbase aimed at attracting institutional customers to their exchanges.~JK The tZERO and BOX Digital Markets deal announced Tuesday could completely disrupt the venture capital and capital raising space, Patrick Byrne, CEO of Overstock.com, the parent of tZERO, told me. More to come on that next week.~JK ALTSO’s Rocktoberfest London event is right around the corner – June 6.~SD A quick note on the Italian bond futures story yesterday, Italy Rout Wipes Five Billion Euros From Bond…

DB1’s Ankur Kamalia: Fintech Venture Capital Is All About Collaboration Feature,Video,video

Deutsche Boerse started DB1 Ventures about 2 ½ years ago with the goal of finding new fintech firms that complement the exchange’s wide-ranging technologies but also show potential to grow well beyond that. Ankur Kamalia, managing director, head of venture portfolio management at DB1 Ventures, said his group is looking at everything from post-trade to new trading platforms to regtech firms. “We wanted to start DB1 to take on investments outside Deutsche Boerse Group and with the desire to be much more aligned with the product, design and innovation strategy going forward,” Kamalia said. He added that DB1 believes a…

Why Germans Are Getting Fed Up with America John Lothian Newsletter,Newsletter

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First Read Notes from Consensus 2018 – Day 2 Chuck Mackie – John Lothian News As expected, Day 2 of Coindesk‘s Consensus conference lacked some of the energy and fireworks of the first day but it did manage to defy what seems to be a law of nature: fewer people in attendance at the second day of an industry event when compared to the first. In this case, Coindesk announced that total registration ticked up to over 8,500 and it was definitely harder to fight the lines for lunch on the second day compared to the first. Somehow I survived….

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…

U.S. authorities due to make arrests in futures ‘spoofing’ probe; Deutsche Börse to spend EUR18m renovating the Frankfurt stock exchange; Hedge Funds Go Bullish on Bitcoin Futures John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Fintank is holding a cryptocurrency event on February 17 at the Northwestern Pritzker School of Law on East Chicago Avenue in the Thorne Auditorium. The name of the event is Crypto Con. I am not sure if you are supposed to wear a costume of your favorite cryptocurrency to the event, but I will be there on a panel at 4:30 PM.~JJL The Fintank people have me listed as John Lothian of JJL News. Not sure what that is. Maybe they meant JLN.~JJL An interesting take on crypto in Bloomberg today, where Markus…

50 Cent Big Buyer of March VIX Calls; New Japanese Flex Options; Currency Volumes Newsletter,Options

Lead Stories ’50 Cent’ Is Buying Up Big on March VIX Calls Luke Kawa – Bloomberg Just as the rapper Curtis Jackson III captures attention for realizing he’s made millions on Bitcoin, the buyer of volatility options that shares his moniker is a window shopper in VIX options no longer. /goo.gl/K8sm8K ****SD: Said it before, I’ll say it again – Kawa gets the hip-hop puns. The more this options 50 Cent keeps putting on size, the harder it will be for me to find songs by the rapper to reference… I’ll probably have something to say about this on the…

Deutsche Boerse ends Asia expansion plans; NYSE, Nasdaq Fighting to Keep Grip on Market Close; Hodgkinson leaving Euronext John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff John Lothian News will be bringing our video team to Boca for the FIA International Conference in March. We will again be shooting our exchange and industry leader video series. If you have some suggestions for topical subjects or persons to interview, email me.~JJL Yesterday we issued a Special Report for the Trading Technologies and GDAX/Coinbase news and Jim Kharouf shot a short video to introduce the story he wrote. I did a short Twitter live piece as an experiment to promote the Special Report. It went fine, except my tie was not…