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Tag Archives: FIA

Brexit’s Influence on Global Markets Feature,Mwiki,Video,video

MiFID II was more than 20,000 pages with 21 million paragraphs of regulation. Considering its scope, things have gone rather smoothly since it went into effect in January. But for Simon Puleston Jones, FIA’s head of Europe, there is no time to rest on the laurels of a successful implementation with Brexit looming.  Brexit cuts across all the other issues on FIA’s plate in Europe. One aspect of MiFID II left unresolved is equivalence assessments, which are impacted by Brexit. The Emir review this year, with its third party clearing components, is impacted by Brexit. (It makes sense the FIA…

FIA Comes to Chicago to Talk Retail Derivatives Blog,Investing & Trading

The FIA is coming to Chicago for an event focused on the retail listed derivatives market. The event features a keynote address by CFTC Chief Market Intelligence Officer Andrew Busch and panels led by the Most Interesting Man in the World, CQG’s Pat Kenny and JLN’s Contributing Global Markets Editor Jim Kharouf. The event is on Monday, May 14 and free to FIA members. Non-members can attend the event at the Union League Club for $75. FIA CEO and President Walt Lukken will open the event, which is scheduled to start at 1:00 p.m. and end at 5:30 p.m., with…

The Spread – The (Out)Take from FIA Boca Commentary,Video,video

After much travel and a spell of ill health, we can confidently say The Spread is back in action. Our “weekly” options news recap will be much more of a weekly affair now. (Flu season is pretty much over, right?) The JLN crew was at FIA Boca last week and your humble host really struggled without our usual teleprompter rig. As such, welcome to a rambling, stumbling version of The Spread that includes some outtakes from my poor pool performance. If you just want the behind the scenes action, skip to the last minute. The following are stories referenced in…

Bear Stearns Meltdown Wreck; Decision time for Michael Spencer; Deductive Reasoning or Insider Trading? John Lothian Newsletter,Newsletter

First Read Potential CME-NEX Deal Is Full of History, Dilemma, Risk and Reward John J. Lothian – JLN For many years, the Chicago Board of Trade had cash treasuries envy, wanting to add the trading of cash treasury bonds and notes to its offerings. For many years, the CME has had cash currency trading envy. Both exchanges, now part of the CME Group, have tried to compete in cash Treasury and FX through various collaborations and initiatives. None of them succeeded. Chicago Board Brokerage and FXMarketSpace are long gone, but the desire to add treasuries and cash FX trading has…

A bit of fear is good for markets; FIA seeks talks with Indian exchanges; Nasdaq/OPCOM New Tech John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff See the Spencer Doar commentary below about the VIX manipulation letter. Spencer methodically and politely shreds the letter writer’s argument and credibility.~JJL Here is a list of those countries who have won medals at the winter Olympics so far, and also a complete list of the countries competing.~JJL Tomorrow is the Fintank CryptoCon 2018 event in Chicago. I will be on a panel late in the day, moderated by the one and only Chuck Mackie.~JJL Simon Barnby, formerly of Fidessa, has written a commentary on LinkedIn titled “CMOaaS – proven marketing skills, as…

This Is Where People Are Buying Bitcoin All Over the World; Who Wants to Be Bitcoin’s Watchdog? John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Unsurprisingly, yesterday’s STAC panel on cryptocurrency, moderated by Bcause‘s Sean Ristau, looked to be the best attended. The lack of regulatory certainty is the biggest challenge in crypto, as no one is sure yet whether it is going to be considered a security or cash (SEC Chairman Jay Clayton has said “virtual currencies are unlike any commodity that the CFTC has dealt with in the past, and….pose challenges for the SEC as well.”) Clayton and CFTC Chairman Chris Giancarlo are scheduled to speak with the Senate on the matter next month. The CFTC…

Strong October Options Volumes; American Options Calibration Issues; Betting Against Bitcoin Newsletter,Options

Observations & Insight ESMA Consults On Calculation Of Derivative Positions Mondovisione The European Securities and Markets Authority (ESMA) has today published for public consultation future guidelines on the calculation of derivative positions by trade repositories (TRs) authorised in the European Union under the European Market Infrastructure Regulation (EMIR). jlne.ws/2hIw0Mb ****SD: In the link to future guidelines that is provided, there is this – “In contrast to the approach required under MiFID II/R to calculate position limits, position calculations with regards to options are not based on delta-adjusted notional values. Rather, the relevant gross notional values that are reported under EMIR…

“Unwarranted” G-SIB reqs; Scared of the CAT; Vol comeback welcome Newsletter,Options

Observations & Insight   Bitcoin rockets above $5,000 to all-time high Jemima Kelly – Reuters Bitcoin smashed through the $5,000 barrier for the first time on Thursday, jumping as much as 8 percent on the day as investors shrugged off the latest warnings on the risks of buying into the booming cryptocurrency market. jlne.ws/2yjA2jC ****SD: There will be plenty of crypto talk at FIA Expo next week, especially as exchanges progress with their nascent endeavors to launch crypto products. However, I still am not certain what percentage of people who talk about digital currencies/blockchain actually know what the heck makes…