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Tag Archives: FINRA

John Lothian Newsletter: Hillary Clinton Said to Hire Former Wall Street Cop as Campaign CFO; BATS to Launch Second U.S. Options Exchange; FINRA Board Approves Changes to Communications With the Public Rules, Trading Activity Fee John Lothian Newsletter,Newsletter

First Read Tech Surge: Nasdaq’s Lars Ottersgard on New Developments in the Technology Space JohnLothianNews.com Nasdaq, the world’s first electronic stock market, is almost synonymous with technology, from listings to licensing. John Lothian News spoke with Lars Ottersgard, head of market technology at Nasdaq OMX, at FIA Boca, about what they are providing to marketplaces, brokers, and corporates, and the areas of growth he sees in the tech sector. Watch the video » ++++ A Note of Thanks Ray McKenzie, Pegasys Trading Systems We here at Pegasys Trading wanted to thank all of the attendees at our launch party last…

John Lothian Newsletter: Fledgling Derivatives Market Hires Ex-DTCC Executive as Chairman; Hedge Funder Dalio Thinks the Fed Can Repeat 1937 All Over Again; S.E.C. Chief Voices Support for Higher Advice Standard for Brokers John Lothian Newsletter,Newsletter

First Read Tony McCormick Out as CEO of BOX Markets, LLC By John J. Lothian The CEO of the BOX Options Exchange has stepped down as the CEO of the business side of the exchange, according to industry sources. Tony McCormick will remain as a consultant to the business side, BOX Markets, LLC, and will remain as CEO of the BOX exchange for the time being. Peter Layton, the chairman of BOX, will become the acting CEO. BOX is one of 12 U.S. equity options exchanges and has struggled to break out from the competition. In February, BOX held a…

John Lothian Newsletter: LSE hints at futures exchange launch; Yet Another Financial Rigging Scandal In The City Of London; Watchdog’s Hunt Is Short on ‘Wolves’ John Lothian Newsletter,Newsletter

First Read A Bit of Boca Next week, the John Lothian Newsletter will be published from our remote headquarters in Boca Raton, Florida as we attend the 40th annual FIA International Futures Industry Conference. In addition to our daily “Boca Bits & Pieces” column, we will be filming a repeat of last year’s hit, our Exchange Leader video series, as well as a new video series on the state of margin and capital requirements. Between video and print interviews and other assorted meetings, at last count there are 41 items on our calendar over two and a half days. And…

John Lothian Newsletter: HKEx eyes extension of China link to trade futures; Virtu hopes time can heal HFT furore; Oil Bust Threatens CMBS in Wall Street Funded Shale Towns John Lothian Newsletter,Newsletter

First Read Fintech Exchange 2015: A Chicago Story JohnLothianNews.com Fintech is more than just a buzzword. Fintech is a movement – a global, top to bottom overhaul of financial systems, from consumer transactions at the grocery store to speed of light derivatives trades, to multi-billion dollar interbank payments. And on April 23, 2015, the center of fintech will be Chicago. Barchart OnDemand, in association with FinTEX Chicago, will host Fintech Exchange 2015, a half day event featuring live presentations, a panel discussion and networking, all centered on the state of technology for financial markets and trading firms. Watch the video…

John Lothian Newsletter: Bunge says China lenders distorting soyabean trade; U.S. Treasurys Carry Weight of the World; Lost Comment Letter Triggers (Another) SEC Dissent John Lothian Newsletter,Newsletter

First Read FINRA Board Approves $50 Million Contribution to the FINRA Foundation FINRA Contribution to Provide Ongoing Support for Research and Education Aimed at Improving the Financial Capability of Individuals and Families Nationwide The Board of Governors of the Financial Industry Regulatory Authority (FINRA) approved a $50,000,000 contribution to the FINRA Investor Education Foundation to provide continuing support for the Foundation’s innovative research and education efforts. jlne.ws/1KQOBHq ***** What would you do to promote financial literacy with $50 million? ++++ Harvey Goldschmid, Ex-SEC Commissioner, Scholar, Dies at 74 by Robert Schmidt, Bloomberg Harvey Goldschmid, a former U.S. Securities and Exchange…

John Lothian Newsletter: Rise and fall of a commodities powerhouse; How the NYSE Mid-Day Auctions Would Work; ICAP to face EU fine over yen cartels John Lothian Newsletter,Newsletter

First Read Tough Nut: RCM Finds New Ways to Get Managed Futures to RIAs By Jim Kharouf, JLN Starting a new financial asset management company in the midst of a financial crisis does not seem like a great idea, particularly one focused on managed futures. But Bobby Schwartz saw an opportunity to move into the space and created RCM Asset Management in 2010. The former CME floor trader also saw potential where others saw disaster when MF Global collapsed in October 2011. “We started to look at the amount of money allocated to managed futures versus hedge funds, and thought…

John Lothian Newsletter: Group of Financial Institutions Settles MF Global Suit; Finra to investigate US bond trading; ICE to launch euro cocoa contract John Lothian Newsletter,Newsletter

First Read Bats Says Exchange Fee Cuts Would Save $850 Million for Traders By Sam Mamudi – Bloomberg Another leading stock exchange operator has a plan to improve the $24 trillion U.S. equity market. Bats Global Markets Inc. suggested a reduction in fees for buying and selling some stocks that could produce industry savings exceeding $850 million for the most-active shares, according to a statement today. The Lenexa, Kansas-based company also said there should be a review of how brokers report where they send stock orders and what standards they use in making those decisions. jlne.ws/17ip0KZ ***** The discussion is…

John Lothian Newsletter: ICE bans ‘disruptive trading’ strategies; SEC Plans to Fix Flaw in Electronic Distribution System; FINRA fines Pershing LLC $3m for violating customer protection rule John Lothian Newsletter,Newsletter

First Read ICE bans ‘disruptive trading’ strategies Gregory Meyer in New York, FT Intercontinental Exchange has explicitly banned an array of market strategies — from flooding its systems with data to tricking others by cancelling orders — in a tougher stance towards electronic trading groups. jlne.ws/1A7KDXy “Iceberg orders, which divide large orders into segments that are visible to and hidden from the market, would not violate the rules unless used to mislead other participants.” **** Yes, iceberg orders are intended to mislead other participants at all times as they have always been. Every good broker masks the full size of…

John Lothian Newsletter: Clearer OCC agrees capital raising deal; US SEC’s new investor watchdog lays out risky products for 2014; EU Retreats on Prop-Trading Ban John Lothian Newsletter,Newsletter

First Read George J. Kharouf, 1933-2014 George Kharouf, father of our friend and colleague Jim Kharouf, died this past weekend in Milwaukee at the age of 81. A visitation will be held Friday, December 16, from 5-7 pm at Krause Funeral Home, 12401 W. National Ave., New Berlin, WI. For more details, click the link or contact John at johnlothian@johnlothian.com. Please keep Jim and his family in your thoughts and prayers this holiday season. jlne.ws/1JQpR4r ***** Thank you to all who have sent expressions of condolences, thoughts and prayers to Jim and his family during this difficult time. It means…