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Tag Archives: financial transaction tax

Britain’s opposition Labour alarms bankers with Robin Hood tax; As VIX Plumbs Depths of Torpor, Betting on Its Future Gets Brisk; EU prop firm capital crunch could hit market liquidity Newsletter,Options

Observations & Insight Are we seeing the end of Wall Street and the beginning of a new one? Jim Kharouf – JLN Silicon Valley icon, investor and entrepreneur Vinod Khosla told an audience last week at the Commonwealth Club of California that technological disruption is coming to most of the top industries in the United States. And while he didn’t mention Wall Street, he could have. “Citibank won’t solve financial inclusion, Square will if anybody does it,” he said. “Volkswagen and GM won’t solve transportation. Whether it’s Waymo or somebody else who does it, it will be a technology driven,…

John Lothian Newsletter: NYSE Proposes Changes, as It Braces for More Volatility; Intercontinental Exchange launches U.S. Treasury index family; BOJ stuns markets with surprise move to negative interest rates John Lothian Newsletter,Newsletter

First Read Time to Get Out the Checkbook By John J. Lothian The New York Times editorial board has added some media influence to the debate about whether to tax transactions on Wall Street. With many of the major leading candidates for President espousing anti-Wall Street notions, it is time for Wall Street to get their checkbooks out and beat back this anti-market nonsense. However, it might not work as well this time. A President Donald Trump would not be beholden to Wall Street like other candidates. And a President Bernie Sanders would bring a lack of appreciation for Wall…

John Lothian Newsletter: Ten EU countries agree on aspects of a financial-transaction tax; Upstart Picks Regulatory Fight With Toronto Stock Exchange Operator; The mystery of Bitcoin’s creator may have finally been solved John Lothian Newsletter,Newsletter

First Read Bits & Pieces JLN Staff Today is ICAP Charity Day, one of the coolest initiatives in the industry, a day in which the broker group’s global offices donate 100 percent of their commissions to an assortment of charities, and a who’s who list of people work the phones. Over the past 22 years they have raised about $180 million. The tweets are still rolling in under the hashtag ICAPCharityDay, but it looks like the Duke and Duchess of Cambridge and international rugby great Lewis Moody were among those brokering swap deals today. While on Twitter, we saw one…

John Lothian Newsletter: Spoofing Warnings Sent as Finra Teaches Brokers to Spot Cheats; Global Banks Rewrite Contracts in Bid to Avert Lehman Repeat; Convergex Partners with FCStone to Launch Futures Prime Brokerage John Lothian Newsletter,Newsletter

First Read Bits & Pieces by John J. Lothian Yesterday was Veteran’s Day in the U.S. My daughter Katherine took to Facebook to share her thoughts on the holiday and wrote the following: “Today is a day of celebration and remembrance of those who have fought for us. Today is also 3 months since I came home from Japan and the best experience of my life. In Japan I spent 12 days camping with 34,000 people from 130+ countries. So many people from so many different countries and cultures. But we were there peacefully. Meeting people from countries America has…

John Lothian Newsletter: Hillary Clinton to Propose High-Frequency Trading Tax, Volcker Rule Changes; Regulatory delays weigh on CME’s European clearing house; ICE selected to operate ISDA margin utility John Lothian Newsletter,Newsletter

First Read Fitch Learning Appoints Diane Saucier as Client Relationship Manager in Chicago Press Release Fitch Learning is pleased to announce the appointment of Diane Saucier as Client Relationship Manager, based in Chicago. jlne.ws/1Omu5ET ***** WILD president and John J. Lothian & Company, Inc. advisory committee member opens up a new role for Fitch Learning. ++++ Citadel’s Ken Griffin Settles Divorce Case By ROB COPELAND, WSJ Billionaire hedge-fund manager Kenneth Griffin settled his closely-watched divorce case, shortly before his wife was expected to testify publicly. jlne.ws/1GxSUWA ****** Thank goodness this is over and Ken can go back to buying overpriced…

John Lothian Newsletter: Deaths Draw Attention to Wall Street’s Grueling Pace; Global regulators finalize new capital rule for big insurers; SGX launches index services in Asia John Lothian Newsletter,Newsletter

First Read Derek Sammann, CME Group – The Importance of Electronification and Globalization JohnLothianNews.com “The amount of structural change — driven by market regulations, the implosion of the credit markets, events in Greece, the hangover from 2008/2009 — has created an incredible amount of change that’s wrenching the infrastructure from the moorings of the last four years.” A booming voice, large stature (did you play college football?), the ability to do math quickly since markets were made in minds — these were qualities Derek Sammann of CME Group recalls firms looking for when he became a trader in 1990. After…

John Lothian Newsletter: SEC Charges Direct Edge Exchanges With Failing to Properly Describe Order Types; Transaction-tax plan brings fresh Wall Street battle to Capitol Hill; Turkey agrees derivatives deal with London Stock Exchange John Lothian Newsletter,Newsletter

First Read Bats Pays $14 Million Settling Claims Markets Obscured Rules By Sam Mamudi and Annabelle Ju, Bloomberg Bats Global Markets Inc. is paying a record fine to settle allegations that two stock exchanges it bought last year obfuscated a central part of how their trading system worked. jlne.ws/1Ab3QW1 ***JK: Giving the bad news first… ++++ Bats Global Markets Statement Regarding Today’s Securities And Exchange Commission Announcement BATS BATS announces the conclusion of two separate investigations into the development of order types; one relates to BATS and the other relates to Direct Edge. With regards to BATS, the Securities and…

John Lothian Newsletter: Germany, France seek to revive transaction tax plan; CME Group and ASX in talks over clearing link; EU lawmakers delay money market, benchmark rules John Lothian Newsletter,Newsletter

First Read Brand New: Craig Donohue takes the reins at OCC JohnLothianNews.com In January, Craig Donohue returned to the financial industry as the new executive chairman of the OCC, the world’s largest clearing house. Donohue, who stepped away from the financial markets after 25 years and the CEO post at the CME Group, spoke with Jim Kharouf, editor-in- chief of John Lothian News about why he took the job, governance issues at the organization as well as where the OCC may be heading next. Watch the video » ++++ In Case You Missed It – JLN Managed Futures John Lothian…

John Lothian Newsletter: CME Seeks to Broaden Cash Options in Clearinghouse Default Rules; CFTC Extends Some Swaps Rules to Overseas Firms; Trading tax hurts bid to keep Euronext in French hands John Lothian Newsletter,Newsletter

First Read The Rogue Incumbents of the NFA Board By John J. Lothian Until two years ago the elections for the board of directors of the National Futures Association was a pretty much a sure thing for the incumbents. However, when Doug Bry and Ernest Jaffarian ran as write-in nominees, after not getting the nod from the NFA Nominating Committee, they won election in an upset. A year later James Koutoulas and John Roe ran in the CTA/CPO category as write-in nominees for the NFA board and also won election. This time around Jaffarian and Bry got the nod from…