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Tag Archives: GMEX

Fear Driving Up Hedging Costs; GMEX and Demand Derivatives creating new exchange JLN Options Newsletter,Newsletter,Options

Observations & Insight Mad Morning Sees Half Dozen S&P 500 Flips as Tech Gains, Fades Sarah Ponczek and Vildana Hajric – Bloomberg Traders returning dazed from the worst stock selloff in nine months found themselves engulfed in more chaos Thursday as volatility surged and the S&P 500 went from up to down and back half a dozen times. /bloom.bg/2yw06qA ****SD: Yesterday’s cleared volume at the OCC was 33.9 million contracts, making it the 11th best day ever. That total is more than 66 percent higher than the ADV thus far in 2018. So, to all our market making friends –…

Uneasy Calm Grips Markets Suddenly Silent Before U.S. Vote; Option Writing Mutual Funds Gain Fans in Volatile Times; Rates Are Poised to Rise But the VIX of Treasurys is Super Low – What Gives? Newsletter,Options

Observations & Insight Stepping Forward in London By John J. Lothian Well, it is about time. I will be delivering my first presentation as part of MarketsWiki Education World of Opportunity in London on Monday. Due to a scheduling conflict, Jock Percy of Perseus had to withdraw from the event on October 31. Stuff happens and you roll with it. So it will be my turn to step up and be a presenter. The question in my mind is whether I can keep my presentation in the 12 to 14 minute segments we allow the speakers. I am going to…

John Lothian Newsletter: Exchanges and interdealer brokers reshape to face fragmenting market; ICE Futures Singapore Launches with Commodity and FX Contracts Serving Asian Markets; GMEX’s CMF granted CFTC approval John Lothian Newsletter,Newsletter

First Read Boy Scouts Search for a New Path; Now is not the time for the Boy Scouts of America to recede from its long-standing national role. By MICHAEL S. MALONE – WSJ Having passed through the controversy over its acceptance of gay members in 2013 and gay leaders this year, the Boy Scouts of America now finds itself at a crossroads. The path it chooses may have a profound and enduring impact on American culture. For a century now, the BSA has been, and remains, the largest youth organization in the United States. There are 2.6 million Cub Scouts,…

John Lothian Newsletter: Hackers tapped a bonanza of data for traders, US says; Tougher bank rules hit bond market trading; Dark pools back in the dock as regulators scrutinise ITG John Lothian Newsletter,Newsletter

First Read Bits & Pieces: Homecoming By John J. Lothian My daughter Katherine and three scouts from my Boy Scout troop returned home safely from Japan yesterday afternoon. Being a super-active teenager, Katherine immediately went to marching band camp from the airport without stopping at home. Katherine had a great time meeting scouts from all over the world. This was the first World Scout Jamboree where the U.S. Boy Scouts of America brought girls along. The U.S. is only one of six countries that separates Boy Scouts and Girl Scouts. Katherine attended the World Scout Jamboree as a Venture Scout…

John Lothian Newsletter: Libor Reform Has Not Gone Far Enough, Says Regulator; China Targets Short Sellers in Stock-Index Futures Contracts; Banks team up to resolve OTC swaps margin disputes John Lothian Newsletter,Newsletter

First Read MarketsWiki Education World of Opportunity Summer Intern Education Series Don’t forget to sign up your interns, newer employees or anyone who would be interested in or find value in the series. We are in New York on July 15 at the NYSE and in Chicago on August 4, 5, & 7. Find details on our newly redesigned www.marketswikieducation.com website. ++++ Court throws out former Goldman programmer’s conviction Ben McLannahan in New York, FT A former Goldman Sachs programmer has had his conviction for stealing code tossed out for a second time — the latest twist in a long-running…

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…

JLN Options: Senator questions widespread tax dodges used by wealthy; Hedge fund failures not enough to stop asset inflows in 2015 – survey; How Unusual is the Current Volatility Lull? Newsletter,Options

Lead Stories Senator questions widespread tax dodges used by wealthy Mark Schoeff Jr. – Investment News The top Democrat on the Senate tax-writing committee called Tuesday for curbing complex investment tactics that help high-net-worth investors lower their taxes. A report released by the Democratic staff of the Senate Finance Committee outlined several investment instruments — such as options, derivatives and swaps — that can be used to skirt “tens of billions of dollars” in taxation. It asserted that reining them in through legislative and regulatory changes would make the tax code fairer. jlne.ws/1AILF9J ***DA: Ask 100 people to define “fair…

John Lothian Newsletter: LCH.Clearnet to launch interest rate portfolio margining capability; U.K. Wins Court Case With ECB on Euro Clearing; Trading Technologies to Provide Access to GMEX Exchange John Lothian Newsletter,Newsletter

First Read Birthday Bits By John J. Lothian Today is my birthday. Number 54. In honor of my birthday and the many gifts I have received over the years I renewed my membership in the 100 Club, the civilian organization that provides for the families of first responders who have lost their lives in the line of duty in Chicago. My friend and mentor Thomas J. Cashman is chairman of the organization. I am ever in debt to Tom for helping me launch my career in this great industry. I am also greatly in debt to him, and to my…

John Lothian Newsletter: CFTC to propose swaps anonymity; Clearing brokers to raise fee structure for buy-side, says Catalyst; Toronto Stock Exchange warns on retail flow to US markets John Lothian Newsletter,Newsletter

First Read Pressure builds to move more FX trading onto exchanges By Patrick Graham and Jamie McGeever, Reuters International regulators struggling to rein in the $5 trillion-a-day global foreign exchange market are finally finding some support from asset managers warming to the idea of moving more trading onto exchanges. jlne.ws/1ANeczU ***** Never underestimate the power of a Ray McKenzie opinion piece in the John Lothian Newsletter. ++++ Coffee Consumption Expected to Jump; The projection comes as global coffee supplies have been squeezed by Brazil’s drought By Nicholas Bariyo, WSJ The world is drinking more coffee, with demand likely to rise…