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Jamie Dimon Slams Bitcoin as a ‘Fraud’; Barchart Launches High-Performance Cryptocurrency Feed John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff To assist the Tampa community during this time of need, DTCC is donating $5,000 to the Community Foundation of Tampa Bay, which has established The Tampa Bay Disaster Relief and Recovery Fund in partnership with several local organizations, and an additional $5,000 to the American Red Cross. They also continue to raise money for the victims of Hurricane Harvey, which now stands at nearly $40,000 thanks to the generosity of their employees, DTCC’s corporate donation of $5,000 and their company match scheme. ~JJL If any NFA Members located in Houston, Florida or…

Traders test OPEC ‘whatever it takes’ resolve to defend oil price; The VIX is not a Fortune-Teller; ‘Vol’-Apalooza: A Handy Reference Guide To Low Volatility Regimes Newsletter,Options

Observations & Insight Are You Registered? If you haven’t registered for our Trading Chicago event, a joint effort between John Lothian News and FOW, now is the time. The one-day event is set for June 28th at the Swissotel in Chicago. You can register HERE and see the agenda for the conference. The program is packed with great topics and speakers. We’ll be leading off with a keynote from Craig Pirrong from the University of Houston and a debate over Dodd-Frank between Leslie Sutphen and Gary DeWaal. Other panels cover trading derivatives in the age of populism, trading fixed income,…

IBM Launches Watson for Financial Regulation; Trump’s Wall Street game plan needs players; Dutch Speed-Trader Turns to Currencies After Conquering ETFs John Lothian Newsletter,Newsletter

First Read Bits & Pieces By John J. Lothian Congratulations to our friends in London for raising £30,000 for the inaugural David Setters cricket tournament on behalf of research into MND. Well done! Welcome back to work for Terry Duffy. We hope you are fully recovered and in good health as you return to work. Longtime market writer Darrell Jobman reached out to me asking for help finding a home for a lifetime collection of market related magazine editions and trading related books. He is downsizing into a condo and wants to find a good home for these prized items….

The Snowballing Power of the VIX, Wall Street’s Fear Index; Wall Street’s self-regulator allows safe havens for tainted brokers; Trump Team Proposes Broad Rethink of Financial Rulebook John Lothian Newsletter,Newsletter

First Read Line-up for MarketsWiki Education Series in NY and Chicago By John J. Lothian We have set the line-ups of speakers for the MarketsWiki Education series in New York and Chicago. Here is the list of the speakers and the days they will be presenting. On July 11 at Nasdaq’s Marketsite location we will have Gary Barnett (SEC), Larry Tabb (Tabb Group), Jennifer Nayar (Vela Trading Technologies), Thomas Ascher (formerly ISE), and Morgan Slade (Cloud Quant). On July 11 at the second session at Nasdaq, we have Gregg Doud (Commodity Markets Council), Henry Schwartz (Trade Alert), Joe Gits (Social…

Departures signal a changing of the guard in HFT; LSE to acquire bond indices from Citi for $685 million; What Makes a Bank Big? John Lothian Newsletter,Newsletter

First Read What Options Leaders Are Thinking Jim Kharouf Today marks the launch of our Options Industry Council exchange leaders series, sponsored by the OIC and OCC. We will feature interviews with options market leaders from NYSE, Nasdaq, CBOE, MIAX and BOX, with each talking about what they accomplished in recent months and what is on their priority lists for the second half of the year. Filmed at the Options Industry Conference earlier this month, we kick off the series with Ivan Brown, senior director, head of options at NYSE. Take a look. There’s a lot to cover in just…

Options Industry Conference Update: Congress Continues To Push For Avoiding Unintended Consequences in Tax and Dodd-Frank reforms Blog,Commentary,Feature,Options

The 35th Annual Options Industry Conference kicked off on Wednesday with a major focus on Washington, especially on a host of new proposals on tax and Dodd-Frank reforms. The conference, hosted by Intercontinental Exchange’s NYSE in Scottsdale, Arizona, led with an interview with Congressman Tom Reed (R-NY 23rd District) who outlined initiatives to address tax reform in 2017. Reed told OCC’s Executive Chairman and CEO Craig Donohue that the tax reform may have enough support in Congress to get it passed this year. As it pertains to the financial industry, Reed said one of the goals of a new tax…

Options Industry Conference Preview Part 2: OCC’s Craig Donohue on Gina McFadden and Changes at the Top of OCC Blog,Feature,Video,video

As the 35th Options Industry Conference gets underway, OCC Chairman and CEO Craig Donohue spoke with John Lothian News about everything from the industry’s first woman to be awarded the Joseph Sullivan Award to executive changes at the clearinghouse. Gina McFadden served in the options industry for almost 40 years. She served as president of The Options Industry Council (OIC) from 2006 to 2013 and executive vice president at The Options Clearing Corporation (OCC). She retired from both of those positions in September 2013. At OIC, McFadden was responsible for business and product development, corporate communications, and investor and internet…

Options Industry Conference Preview Part 1: Is Regulation Damaging the Options Space? Feature,Video,video

The cost of regulation is heavy on certain participants in the options industry, and OCC is trying to help clearing firms and market makers deal with it. “One of the things we’re most focused on is the increased capital burdens of doing business in the industry, and that’s starting to have an effect on liquidity provisions and trading,” Donohue said. By that, Donohue is referring to the risk weighted assets for bank clearing members which fall under various regulatory regimes at the US Treasury and the Basel Committee.  These issues and others will be discussed at the upcoming Options Industry…