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VIX Surge Is Unwelcome Lesson in Duplicity of Volatility Wagers; The Volatility Buyer Known as ’50 Cent’ Just Had a Huge Payday; Don’t Fear The Fear Gauge Newsletter,Options

Observations & Insight CBOE Celebrates Exit of Long-tenured Employees at Chicago Gala By John J. Lothian The CBOE held a gala event at the Aon Grand Ballroom at Navy Pier in Chicago last night to celebrate the long and successful careers of several key employees whose tenure dated back to the nascent years of the exchange. Among those honored were Ed Provost, Philip Slocum, Thomas Knorring, Gerald O’Connell, Thomas Brady, Debra Peters and former chairman and CEO Bill Brodsky. Over 200 years of experience in the world’s first and leading options exchange will retire or move on with the CBOE…

Deutsche Börse investors take aim at chief over failed LSE deal; CFTC looks to modernise with FinTech plan; John Lothian Newsletter,Newsletter

First Read CBOE Celebrates Exit of Long-tenured Employees at Chicago Gala By John J. Lothian The CBOE held a gala event at the Aon Grand Ballroom at Navy Pier in Chicago last night to celebrate the long and successful careers of several key employees whose tenure dated back to the nascent years of the exchange. Among those honored were Ed Provost, Philip Slocum, Thomas Knorring, Gerald O’Connell, Thomas Brady, Debra Peters and former chairman and CEO Bill Brodsky. Over 200 years of experience in the world’s first and leading options exchange will retire or move on with the CBOE closed…

There’s a Big Technical Reason for Low Volatility in Stocks; Blame Twitter for the Death of Volatility?; Brokers Saddled with 75% of CAT Costs Newsletter,Options

Observations & Insight CBOE Lifer Ed Provost Reflects on Nearly 42 Years at the Exchange JohnLothianNews.com Ed Provost retired as CBOE president and COO after the completion of the Bats deal. It marked an end to a 40-plus year career at the exchange. One of 13 kids, Provost came from a largely musical family. He was always interested in markets due to his father’s rapt attention to early television coverage of stocks, and Provost thought he would go the traditional financial path by entering the banking industry. In the end, it was the chance choice of the then upstart CBOE…

CBOE Lifer Ed Provost Reflects on Nearly 42 Years at the Exchange Feature,Options,Video,video

Ed Provost retired as CBOE president and COO after the completion of the Bats deal. It marked an end to a 40-plus year career at the exchange. One of 13 kids, Provost came from a largely musical family. He was always interested in markets due to his father’s rapt attention to early television coverage of stocks, and Provost thought he would go the traditional financial path by entering the banking industry. In the end, it was the chance choice of the then upstart CBOE as subject matter for a college paper which exposed him to the fledgling options exchange industry….

Options Industry Perspectives: Exchange Leaders Trade Viewpoints at OIC 2015 Blog,Options

Sarah Rudolph

At the Options Industry Conference this year, the exchange leaders panel directly followed a presentation by Andy Nybo, head of derivatives at The Tabb Group, that offered a rather bleak look at the options industry. Total volume year-to-date was down 8.7 percent compared to a year earlier, bid-ask spreads have been getting wider, and options exchanges are finding it difficult to compete in a field of 12-going on-14 players. Given that “dark cloud” the industry appears to be under, moderator John Lothian asked the panel what the industry could do to turn it around. Exchange leaders agreed that the lack…

CBOE CEO Bill Brodsky talks about stepping down after 15 years Interview,Options,Video

Bill Brodsky

Bill Brodsky, chairman and CEO of the CBOE, announced last month he was stepping down from his post in May 2013, and taking the role of executive chairman. He has held the top spot at the exchange since 1997 and was at the Chicago Mercantile Exchange for 15 years before taking over at the CBOE. Brodsky spoke with John Lothian about his decision, his successor Ed Tilly as well as the importance of separating the role of CEO and chairman in public companies. He also addressed some of the keys to the CBOE’s success over the past quarter century, the…