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Tag Archives: fixed income

The Fed Unwinds; BTS Launches BTS Spark John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff The Giving Tree This is a different type of giving tree, so hang with me. There are a number of announcements to be made today. If you had not seen the information about the visitation for Les Rosenthal, here it is: Chicago Jewish Funerals, 8851 Skokie Blvd. Skokie IL 60077, today, September 19, between 1:00 p.m to 4:00 p.m. In lieu of flowers, contributions in his memory may be made to a charity of your choice. There are a number of charities listed. In recent days prior to the sad news, JLN…

Interest (in) rates: CME’s suite soars Blog,Commentary,Feature,Options

Despite historical seasonality trends pointing to decreased trading activity in summer months, CME’s interest rate complex has been red hot. In the past month, CME Group has experienced records in a variety of rate-related products in terms of average daily volumes, open interest, electronic trading and investor participation. Average daily volumes (ADV) and open interest (OI) in Ultra 10-year Treasuries, Wednesday Weekly Options on Treasuries (just launched in June), electronic trading of eurodollar options are all at highs and foreign investor participation is on the rise.  (See the infographic below for more.) In August, OI in treasury options reached a record;…

Deutsche Bank walks away from US swaps clearing; Soc Gen sees fixed income trading boom; Crunch time for increasingly brittle London Metal Exchange John Lothian Newsletter,Newsletter

First Read Trump Preparing to Nominate Commodity Futures Trading Commission’s Giancarlo as Chair; The former brokerage executive is currently serving as acting chairman Andrew Ackerman – WSJ The Trump administration is preparing to nominate J. Christopher Giancarlo as chairman of the Commodity Futures Trading Commission, according to people familiar with the matter, elevating the former brokerage executive to the full-time head of the top U.S. derivatives regulator. /goo.gl/XFy2Wg ***** This would be a terrific outcome. Acting Chairman Giancarlo is widely respected and very knowledgeable. All we need now is some other commissioners. ++++ Nasdaq’s Black Belt CEO on IPOs, Unicorns,…

Solidifying an American foothold: LSEG’s UnaVista and MTS platforms look to expand Blog,Commentary,Feature,Fintech,Investing & Trading,Mwiki,Regulation

The London Stock Exchange Group has plenty of reasons to be in the news due to its pending merger with Deutsche Boerse, but while all of those discussions take place, parts of the LSEG family are making moves of their own. The two arms in motion are MTS, a bond trading platform, and UnaVista, a back and middle office platform for reconciliation, reporting, matching and validation. Both are in a similar situation — they have a large presence in Europe but not so much in the United States. For example, MTS is dominant in EU sovereign bond trading and UnaVista…

Paul McCormick, Opening City Doors – Finding your First/Next Financial Job Video

“There is a mismatch between the way companies like to hire people and the way graduates and young professionals like to get hired.” Paul McCormick has represented a half dozen of the biggest names in the banking world in his 30 years as a fixed income trader. Now he works as a graduate recruiter for Thomson Reuters, and also writes a blog, Opening City Doors, that helps graduates and young professionals find a place in the London financial scene. He says most companies’ recruitment flow charts run from the top down – internally, personal referrals, LinkedIn contacts, professional recruiters –…

Peeling back the layers of the European regulatory onion with Finex’s Andrew Gebhardt Managed Futures,Regulation,Video

As regulatory bodies implement sweeping new rules for the financial industry in the wake of the ‘08 crisis, an increasing problem lies in navigating these always complex and occasionally differing rules and regs across international boundaries.   JLN sat down with Andrew Gebhardt, managing partner at Finex LLP, to see how the situation is playing out for investment funds in Europe. The short answer is not well. The disconnect between U.S. and European regulators is so severe, Gebhardt advocates that small firms looking to expand to Europe should consider joining forces with an entity already licensed to created funds —…

Derek Sammann, CME Group – The Importance of Electronification and Globalization Financials,Tech / HFT,Video

“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 25 years, Sammann sees a much different landscape. Electronification shifted priorities from the pits…

John Lothian Newsletter: Promontory to Challenge New York Regulator on Ban; BP fights to blow away gas market rigging case; U.S. Credit Traders Send Warning Signal to Rest of World Markets John Lothian Newsletter,Newsletter

First Read SFOA Founder and Long-time CEO Paul-André Jacot Passes Away Friends from Switzerland reported Saturday that Paul-André Jacot, founding member and long time CEO of the SFOA, died Friday night. He was a member of the FIA’s Futures Hall of Fame. We will have more on Paul-André tomorrow. SFOA has a message on their website here. Our condolences to his family and friends. ++++ The Next Stock Market Shutdown Could Be Much Worse; The NYSE’s three-hour closure in July sent a signal that more data competition is needed among exchanges. By HAL SCOTT And JOHN GULLIVER, WSJ The three-hour…

Charlotte Crosswell Talks About The New NASDAQ OMX NLX Financials,Interview,Video

The interest rate market will get some more competition at the end of the year with the launch of the NASDAQ OMX NLX futures exchange. JLN editor-in-chief Jim Kharouf spoke with exchange CEO Charlotte Crosswell, at IDX 2012 in London, about the new exchange’s move into euro and sterling-based short-term interest rate and long-term interest rate contracts, the trading and clearing platform and who will be participating in the new market.