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CFTC Leaves Shaping Position Limits Rule to Trump Administration; US plan to curb commodity speculators in doubt; Rapid rise of the ETFs sparks growing pains John Lothian Newsletter,Newsletter

First Read Challenging the Status Quo: Cinnober Aims To Break Into The Back Office Clearing Space By Jim Kharouf – JLN There was a time when many thought there wasn’t really much of a market for full clearinghouse solutions with real time clearing and risk management. But in 2007 and 2008, Cinnober successfully pushed into the space and carved out a nice niche for itself, especially as the global financial crisis illustrated the intense need for such solutions. Now, the company is pushing into the established space of back office clearing for clearing member banks and brokers. That space is…

High-frequency traders discredit Japanese stock market narratives; Deutsche Boerse expects EU statement of objections to London Stock Exchange merger in second week of December; Virtu calls on US regulator to examine risks of ETFs John Lothian Newsletter,Newsletter

First Read Happy Thanksgiving John Lothian News Team Just a quick note to say Happy Thanksgiving to all. It’s a great time to sit down with friends and family and reflect on the things we are grateful for. We are especially grateful for all of you, our readers, sponsors, friends and family. We are thankful for all of you. We wish you a safe and happy holiday. We’ll be back on Friday. ++++ The Commodities Disruptor by Chris Outcalt – Galvinize It was 3 a.m., and the warm Kenyan air smelled of jet fuel. Julie Lerner had just completed a…

What investors misunderstand about the politics of rage; CFTC set to tweak rules for automated trading; Wall Street Bonuses to Decline John Lothian Newsletter,Newsletter

First Read A Big Deal in Chicago, U.S. and the World By John J. Lothian and Jim Kharouf – JLN Tomorrow is election day in the United States. It’s almost hard to write the first word of our country’s name because we are hardly united these days – divided over everything from political idealism, immigration, terrorism, globalization, capitalism to the many other isms and phobias that threaten what we stand for as a country, and arguably THE standard bearer for democracy. And yet, here we stand on the eve of the election faced with a choice to make between two…

John Lothian Newsletter: ETFs to play main role in the next crisis; A big political battle over Dodd-Frank financial reforms is coming in 2016; Here is what a trader learned from putting together his bank’s most profitable trade ever John Lothian Newsletter,Newsletter

First Read ++++ ‘Star Wars’ Poised to Set Mark for Fastest Film to $1 Billion Christopher Palmeri – Bloomberg Christmas Day sales bring worldwide total to $890.3 million Hitting mark would topple record set by `Jurassic World’ “Star Wars: The Force Awakens” was poised to pass $1 billion in worldwide ticket sales this weekend and become the first picture to reach that mark so quickly. bloom.bg/1QRC66i ***** I saw the movie last night. My soul was not stolen, per my son Robby’s concern. It was good, but I was disappointed actually. Too predictable but you knew I was going to…

John Lothian Newsletter: Exchanges Near Infrastructure-Upgrade Deal; CME unveils new oil futures contract to tackle Canadian discount woes; Big-name dealers back LSE and BlackRock ETF push John Lothian Newsletter,Newsletter

First Read Business Remodeling: Satyam Kancharla of Numerix Says Firms Must Rethink Risk and Collateral Management JohnLothianNews.com There has been an avalanche of regulation over the past several years. While firms are digging out from under it in an effort to comply, others are looking for new opportunities this environment presents. Satyam Kancharla, chief strategy officer of Numerix, told John Lothian News’ Jim Kharouf that firms must find ways to create more efficiencies in terms of collateral management and looking at their operations in a more holistic way. The combining of OTC and futures into cleared structured environments are forcing…

Are these Trends your Friends? Blog,Regulation,Tech / HFT

Doug Ashburn

This morning, SunGard released a new report, “Key Trends Shaping the Future of Commodities Trading.” I spoke with Matthew Healey and Giancarlo Delia from Kiodex, Sungard’s commodity risk management system for capital market participants. The trends include the end of the commodities supercycle, which will drive fund managers to adopt asset class-specific strategies, and collateral and margin changes as a result of Dodd-Frank and its global counterparts. Additionally, according to Healey, the intra-day execution risk from the growth of HFT is driving a need for real-time risk analytics at the firm, exchange and regulatory levels. Regarding the shift of swaps…

JLN Options: Know Your Options: If You Build It, They Will Come Newsletter,Options

Lead Stories Know Your Options: If You Build It, They Will Come Joy Rosenstein – Fidessa Corporation (via TABB Forum) As buy-side traders increasingly embrace options both as a profit-making strategy and as a way to hedge their portfolios, broker-dealers must add options-trading capabilities to remain competitive. Here are 5 questions firms must answer before building an options offering. http://jlne.ws/16EMpym ‘Bernanke Put’ is Back in Play Kaitlyn Kiernan – The Wall Street Journal The so-called “Bernanke Put” is back in play… The idea is that Mr. Bernanke and those policies will protect the market against downturns, much as put options,…

JLN Options: The New VIX Futures Margin Requirements Newsletter,Options

Lead Stories The New VIX Futures Margin Requirements  Adam Warner – Schaeffer’s Investment ResearchIt’s a summer Friday, so it’s not likely we see too much intraday volatility in stocks today. CBOE Market Volatility Index (VIX) futures, though, could see some serious action. Margin requirements have changed significantly since last night. My friend Bill Luby has the details here at VIX and More:http://jlne.ws/12vm2rO Options Investors Remain Wary as VIX Falls  Kaitlyn Kiernan – The Wall Street JournalThe Chicago Board Options Exchange’s Volatility Index is coming off its highest levels of the year, but options traders are remaining cautious as uncertainty around Federal Reserve…

JLN Options: Sprecher Has Tough Task Killing PFOF Newsletter,Options

Lead Stories Sprecher Has Tough Task Killing PFOFDan Collins – Dan Collins ReportIn doing research for an upcoming post—on one of the previous periods trend following was declared dead—I came across a story in an old issue of Futures that relates to Intercontinental Exchange Chairman and CEO Jeff Sprecher’s recent declaration to end payment-for-order-flow (PFOF) on the exchanges he is acquiring.http://jlne.ws/1aans4l Options Traders See Junk Bonds Falling Further  Kaitlyn Kiernan – The Wall Street JournalHigh-yield bonds have taken a big hit in recent sessions, in a selloff that some options traders think will continue.http://jlne.ws/11YymkC S&P 50-day MA Key LevelDan Collins –…