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US financial regulators warn investors on bitcoin risks; Asian buyers spur bitcoin rise John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff A new survey from DTCC shows geopolitical risk as a top 5 concern of 69 percent of those surveyed – an all-time high. Plenty of other fun stats and infographics in there to digest.~SD Deutsche Boerse turned 25 years old. I believe I was once told that the average age of the people who started it was 28. ~JJL Have you seen the Chicago Blockchain Project?~JJL Yesterday’s JLN Options newsletter covered the lack of FX volatility, the potential for bitcoin options and the short vol trade.~SD The NFA staff coordinated the donation…

Key points from CFTC Commissioner Quintenz’s fintech address Blog,Commentary,Feature,Fintech,Regulation & Enforcement

CFTC Commissioner Brian Quintenz addressed ISDA’s Unlocking Value in Derivatives Markets conference in London yesterday and a few timely remarks were included (as well as some shout-outs to Galileo and Prometheus…). Regarding the crypto elephant in the room Of all the aspects of the Commodity Exchange Act (CEA), Quintenz brought up the provision that exchanges “may not list a contract that is readily susceptible to manipulation.” Ink has already been spilled on how thin some of the closing cash auctions can be on the crypto exchanges which these prospective bitcoin futures contracts will use in determining the underlying’s price. With…

Government enforcers take aim at compliance officers; Euronext to acquire FastMatch and expand into global FX markets; KCG Said to Eliminate 10% of Staff, Shut Two Offices in Asia John Lothian Newsletter,Newsletter

First Read Ride For Beth Jan Bart de Boer, Chief Commercial Officer ABN AMRO Clearing We are raising money to fund research to help the daughter of our European Chief Commercial Officer, James Egan. James Egan is a very well known and respected person in the Futures industry in Europe. His daughter Beth has an incredibly rare autoimmune disease, ‘Scleroderma.’ We are raising money to fund a scientific investigation at Great Ormond Street (UK) hospital (where she is treated) to try and learn more about the disease and how it can be treated in the long term. We are looking…

OCC’s Moves Continue Blog,Options

Today, OCC announced that John P. Davidson agreed to become president and COO of the organization starting May 8. Davidson was on the OCC’s board of directors from 2002 to 2006 and his 30+ year tenure in the industry encompasses time at Citigroup, Morgan Stanley and two stops at CME Group. Given the pattern of recent hires at OCC, the presence of the CME on Davidson’s curriculum vitae is far from a surprise. Here’s the real rub — this comes right on the heels of this morning’s announcement from DTCC that it hired former OCC President and COO Mike McClain…

Davidson Joins OCC as President and Chief Operating Officer; DTCC names Michael McClain GM, equity clearing; The Least Volatile Quarter On Record Since the 1960s Newsletter,Options

Observations & Insight OCC Moves Continue Spencer Doar – JLN The plan was for a Post-April Fool’s Day humorous bits and pieces for options, but then actual news just kept cropping up, so look for it tomorrow. What could be more important than pithy comments about the weird options-related search results? The fact that the rotation at the OCC continues! (And my mind is definitely on rotations as MLB is back.) Today, OCC announced that John P. Davidson agreed to become President and COO of the organization starting May 8. Davidson was on the OCC’s board of directors from 2002…

DTCC Selects Providers for Derivatives Distributed Ledger System; Why the China Manipulator Label Looks Increasingly Appealing to Trump; S&P Global to Sell QuantHouse Newsletter,Options

Lead Stories DTCC Selects Providers for Derivatives Distributed Ledger System John D’Antona – Traders Magazine The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced that it has selected IBM, in partnership with Axoni and R3, to provide a distributed ledger technology (“DLT”) framework to drive further improvements in derivatives post-trade lifecycle events. The firms will work collaboratively to re-platform DTCC’s Trade Information Warehouse (“TIW”), building a derivatives distributed ledger solution for post-trade processing based on existing TIW capabilities and interfaces with technology providers and market participants. The TIW service…

BoE told to firm up oversight of clearing and other support; Biggest banks each set to be hit with $200m trading rule costs; Smaller companies fear threat from new financial regulation John Lothian Newsletter,Newsletter

First Read New CEO, Updated Offices By John J. Lothian, Executive Chairman Today is the first day in the reign of Jim Kharouf as king….err… CEO of John J. Lothian & Company, Inc. He takes command in our newly updated offices in the CBOT Building, which are not quite done yet. Friday we learned we had an unresolved heating and air conditioning situation that needed to be resolved. We will begin to move in the office this afternoon and hope the work is done by tomorrow. In the new game of thrones, Jim will now sit on the iron hot…

John Lothian Newsletter: Exchanges Condoned Alleged Spoofer’s Trades, Ex-Partner Says; Wall Street Goes Big on Bitcoin Tech; Cut-off for ICE LSE bid moved to “late April” John Lothian Newsletter,Newsletter

First Read Chain, chain, chain By Jim Kharouf, JLN Today, like most days lately, is mostly filled with talk of blockchain. This topic continues to gather great interest and attract quite a bit of investment. Yesterday, the Depository Trust & Clearing Corp. held its first symposium on blockchain technology. An audience poll asked the question “If you had $10 million to invest in one of the following, which would you pick?” Coming in second was blockchain with 19 percent of the votes, lagging behind the other big topic in the industry, cybersecurity with 34 percent, according to the Wall Street…

DTCC Video: Systemic Risk Barometer Insights with Mike Leibrock Blog,Financials,Regulation,Video

Mike Leibrock, Managing Director and Chief Systemic Risk Officer at DTCC, shares his insights on the most recent Systemic Risk Barometer Survey. *This video first appeared on the DTCC web site January 7, 2016 and is reposted here with permission.