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Texas Heat Record; Wall St. Unprepared for Libor’s Absence; Trump’s Trade Tweets John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Are your interns signed up for MarketsWiki Education in Chicago on July 30, 31 and August 2? This don’t miss series still has some room for more. Sign up at www.marketswikieducation.com.~JJL With the large number of stories out there about artificial intelligence taking over (see yesterday’s piece in The Trade) – it’s fitting to relink to a JLN video from earlier this year – Myths and Misconceptions Surrounding Artificial Intelligence. Basically, saying “artificial intelligence” doesn’t always mean the super complicated thing you think it means. The video features Inderdeep Singh of CME Group,…

Timely Capital Relief Comments From Fed Chair Powell or: The Options Market Stability Act Was On TV! Blog,Options

During Federal Reserve Chairman Jerome Powell’s testimony on Capitol Hill, Rep. Randy Hultgren asked Chairman Powell about targeted capital relief for bank-affiliated clearers of options liquidity providers. Recall that Rep. Hultgren authored legislation – the Options Market Stability Act – that just passed the House. That legislation seeks to provide relief for clearers by directing banking regulators “to consider a number of items including the availability of liquidity, the economic value of delta weighting and netting of positions, safety and soundness of financial institutions and overall financial stability. The legislation also requires the Federal Reserve to submit a report to…

Hultgren Questions Powell On Options Market; Pound Volatility; VIX Futures Settlement Newsletter,Options

Observations & Insight Timely Capital Relief Comments from Fed Chair Powell or: The Options Market Stability Act Was On TV! Spencer Doar – JLN During Federal Reserve Chairman Jerome Powell’s testimony on Capitol Hill, Rep. Randy Hultgren asked Chairman Powell about targeted capital relief for bank-affiliated clearers of options liquidity providers. Recall that Rep. Hultgren authored legislation – the Options Market Stability Act – that just passed the House. That legislation seeks to provide relief for clearers by directing banking regulators “to consider a number of items including the availability of liquidity, the economic value of delta weighting and netting…

Basel III sparks trader retreat from listed derivatives John Lothian Newsletter,Newsletter

First Read AI is changing this industry. Now what? Jim Kharouf – JLN I spent last week listening to experts in artificial intelligence talk about what AI can and will bring to the markets and the broader world. What is patently clear is that AI is here now and is only going to expand. As Jay Biondo, product manager, surveillance at Trading Technologies told me, it’s everywhere already – from Amazon’s Echo (usually called Alexa) to Netflix’s suggested picks. It’s part of Charles Schwab’s brokerage service which will allow its brokers to service thousands instead of hundreds of customers, according…

JLN Options: ’50 Cent’ Returns; Clinging to Risk; Central bank activity Newsletter,Options

Observations & Insight Miscellany for Thursday The new edition of FIA’s MarketVoice is available online. FANG+ Options went live at NYSE on Monday. Trade Alert is now live with VIX futures info. We started rolling out videos from FIA IDX. First up was ICE Europe’s Stuart Williams. Speaking of videos, we released a video with CME Group’s options head Derek Sammann where he talks about the franchise’s continued growth. In case you missed it, Robinhood’s options trading business is apparently booming. ++++++ None of Us Understand Probability RCM Alternatives This week kicks off the World Cup, and while the U.S….

Shortwave trading; Robinhood’s $2b a day options biz; Mammoth bond wager Newsletter,Options

Observations & Insight A little-known business at Robinhood has exploded, and now it’s launching a service to go after the most serious traders Frank Chaparro – Business Insider Prime (SUBSCRIPTION) Robinhood’s options-trading business is exploding, according to Chris O’Neil, a product manager at the California broker. Now the firm, which says it has seen $2 billion in options-trading volumes since launch, is upping the ante with the rollout of multileg options. The move shows the company is seriously going after the business of more experienced traders, says Devin Ryan, an analyst at JMP Securities /goo.gl/C2CX83 ****SD: First of all, not…

US judge scraps trial into CME Group’s defence of home market; Fed Reserve checking account? John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Former Barron’s columnist Steve Sears has emerged as the chief market strategist for StratiFi Technologies. Eurex Clearing’s new partnership program, aimed at creating an EU-based clearing facility for interest rate swaps, cleared a record EUR1.7 trillion in March.~JK Cboe Global Markets’ FX volume rose 37 percent to $762.9 billion in April, up from $554 billion a year earlier. Year-to-date notional volume is up 41 percent.~JK Did you know Cboe has an office in Quito, Ecuador?~JK Joe Noviello, the former head of eSpeed, is now managing director of Dealerweb Technologies at Tradeweb, according to…

Scholes on team launching low-vol cryptocurrency; CFTC ‘astounded’ as Congress prepares to cut budget; Volatility Leaves Europe Banks Whipsawed Newsletter,Options

Lead Stories Saga token: Nobel winner Myron Scholes on team launching low-volatility cryptocurrency Eshe Nelson and Joon Ian Wong – Quartz Last year, when the price of bitcoin rose 1,000%, you might have regretted not buying in. Now that it has fallen almost 40% so this year, perhaps you don’t have as many regrets. The murky trading and wrenching volatility of cryptocurrencies threaten their place as a fundamental plank of the future financial system, as proponents are pushing. Now, a group of famed economists and financial innovators have a plan to address those challenges by creating “the first non-anonymous blockchain-based…

Making a Friend of Fear; Speculators take record bet Fed will pull rate trigger soon Newsletter,Options

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Lead Stories Making a Friend of Fear Steven M. Sears – Barron’s We find ourselves in the midst of great debates in the stock and options market. The Standard & Poor’s 500 index, for which 2017 was the least volatile year since 1965, is no longer serene. Early February brought about the most severe single-day decline for the Dow Jones Industrial Average, and the largest one-day increase for the Cboe Volatility Index. VIX was so low for so long that it seemed as if it would never return to its long-term average of about 19. Now, VIX seems unlikely to…