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Tag Archives: DRW

Bitcoin’s Trading Star is DRW’s Cumberland Mining; Itiviti and ULLINK announce tie-up; BoE chief on LSE row John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff DRW’s cryptocurrency division is called Cumberland Mining & Materials LLC., named after the Grateful Dead song “Cumberland Blues,” about a hardworking miner, according to today’s Wall Street Journal story. ~JK Fun fact: In the first three quarters of 2017, $2.774 trillion of MSCI Index-based futures and options traded globally. That’s nearly 50 percent more than the first three quarters of 2016.~SD Care to express your views on cryptocurrencies without trading them? Apparently, you can buy ugly crypto holiday sweaters now (and yes, the checkout supports cryptocurrencies). Visual Capitalist has a cool infographic…

Trading Tables: T4Youth’s Annual Ping Pong Bash Brings Home $100k Commentary,Feature,Giving News

For whatever reason, working in tech and a love of table tennis go hand in glove. That dynamic was on full display Wednesday night at SPiN Chicago during the fourth annual T4Youth Table Tennis Tech Tournament. More than 400 people from Chicago’s trading and tech community gathered for a night of fun competition all benefiting the Chicago Tech Academy (ChiTech), a charter school in Chicago focused on STEM education for minority and low-income students. The event, co-founded by Objective Paradigm, 3Points Communications and SPR, raised more than $100,000 for the second year in a row. There were 51 teams from…

Goldman’s options retreat; ICE says not over-reliant on data sales; RenTech’s Mercer steps down John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff Earlier this week, Philip Bergstrom, the brother of Jeff Bergstrom (CIO of John J. Lothian & Company, Inc.) passed away. Phil lived in California for most of his adult life, but grew up in Glenview, IL. Phil was also the step-brother to John Lothian’s wife Cheryl. We offer our condolences to the Bergstrom, Lothian and Howard families.~JLN Congratulations to Nasdaq CEO Adena Friedman, who was named as #20 on Forbes 2017 Most Powerful Women list.~JJL The annual energy consumption for Bitcoin transactions is now estimated at more that 24 TWh, which is…

Bitcoin Hurdles; The 871(m) Tax Problem; Quarterly and Monthly Volumes Newsletter,Options

Observations & Insight OCC Cleared Contract Volume Up 20 Percent in October OCC OCC, the world’s largest equity derivatives clearing organization, announced today that cleared contract volume in October was 381,467,272 contracts, a 20 percent increase from October 2016 monthly volume of 318,439,491 contracts. Average daily volume at OCC is up four percent year-to-date in 2017 with 17,070,435 contracts. OCC’s stock loan program reported that securities lending activity was up 30 percent in October and 21 percent year-to-date. jlne.ws/2A7Kjhy ++++++ Are you on the right side of Bitcoin history? By John Lothian of JLN Shortly after JLN was published yesterday…

Whoah, That was Fast; Cryptocurrencies Move a Step Closer to the Mainstream Newsletter,Options

Observations & Insight VIX Bits Spencer Doar – JLN On the 30th anniversary of the ’87 market crash last week, Cboe, in collaboration with ProShares, hosted a panel discussion “Current Dynamics of the VIX Market.” There was a lot to glean – from the applications of VIX ETPs to unique characteristics of VIX futures to general perceptions of volatility. Dominic Salvino, Group One’s VIX options specialist, had one of the best analogies for the current low levels of VIX, comparing it to high February temperatures in Chicago. On February 18, the thermometer reached 70 degrees Fahrenheit, only the fourth time…

DRW leads high frequency trading charge into cryptocurrencies; EEX and CBEEX partner for carbon market development in China John Lothian Newsletter,Newsletter

First Read Hits & Takes The European Energy Exchange is quietly turning into a global commodities market. Just months after buying the Nodal Exchange, the US power market, it signed a memorandum of understanding with the China Beijing Environment Exchange (CBEEX). MOUs are generally not much to talk about and this one may fall into the file with most of the others. But in the off chance it becomes a partnership, it could open the European and Chinese carbon markets to one another – creating a massive opportunity for traders looking for a burgeoning market to trade. China’s president Xi…

How to be a Successful Trader – Jennifer Wilson Feature,MarketsWiki Education,MWEd,Mwiki,Video,video

“People who do well, they stick around. They invest more money and make the markets more efficient. People who don’t do well generally move on pretty quickly to other opportunities.” In this video from MarketsWiki Education’s World of Opportunity event in Chicago, Jennifer Wilson, partner at DRW, discusses what it takes to be a successful trader in today’s markets. When Wilson was starting out in the late ‘90s, the floor was a microcosm of pure commerce. Traders were doing what was best for their book which created a steady balance of supply and demand. In today’s electronic markets, things operate…

DRW personnel news; Heeding warnings on risk; Hedgie Diggle says ’08 repeat unlikely Newsletter,Options

Observations & Insight DRW News and a Solar Eclipse Hangover Spencer Doar – JLN Volumes were depressed yesterday because maybe just more dog days of August or maybe the eclipse or maybe who knows? Now, the S&P resumes its march upward and the VIX is back under 12. Cleared volume at the OCC yesterday was 15.2 million contracts, the lowest since the 12.4 million traded on August 7. For context, last Thursday (8/17) and Friday (8/18) both had more than 24 million contracts cleared. One group very much not in lazy summer mode is DRW. The big news was the…

Deutsche Börse probe widens; DRW to Buy HFTer RGM; Trump’s business councils fall apart John Lothian Newsletter,Newsletter

First Read No, Not the VIX – the VSTOXX Sarah Rudolph – JLN Even your dog has heard of the VIX, the Chicago Board Options Exchange‘s benchmark volatility index, but the VSTOXX, the benchmark for volatility in European stocks, is less of a household name in the U.S. Eurex has been trying to change that by adding more and more functionality to their VSTOXX products, starting out with spot prices and futures contracts on the index and then more recently moving into options on futures and ETNs. Yesterday, Eurex and Rival teamed up for a meetup in Chicago at a…