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Tag Archives: Goldman Sachs

JLN Financials: In Bonds, One Man’s Big Sales Pitch; Pimco’s flagship fund decreases U.S. govt-related holdings in Jan; Currency Warriors Get Boost at G-20 Meeting Financials,Newsletter

First Impressions SDR 2.0: CME Group’s Jonathan Thursby Looks at the Future of Swap Data Repositories JohnLothianNews.com Over the past 18 months, the OTC derivatives world began mandatory reporting into trade repositories. Now that we have had some time to work through the logistics, it is time for a rethink. Jonathan Thursby, president of global repository services at CME Group, says the CFTC and global regulators are looking at revisions to the rules, and he lays out his wish list for a new and improved framework. Watch the video » Quote of the Day Having proven themselves unable to cobble…

John Lothian Newsletter: Banks May Have Overplayed Their Hand Fighting Wall Street Regulation; In Bonds, One Man’s Big Sales Pitch; SGX names new head of China business John Lothian Newsletter,Newsletter

First Read SEC Charges Former Brokerage CEO for His Role in Fraudulent Scheme SEC The Securities and Exchange Commission today announced that the former CEO of a global investment services firm’s brokerage subsidiary agreed to pay more than $783,000 and admit wrongdoing to settle a case involving employees under his control misleading customers. The SEC previously charged ConvergEx Group subsidiaries, which paid $107 million and admitted wrongdoing to settle the charges. The SEC also charged two former employees in that enforcement action, and later separately filed a case against a different former ConvergEx subsidiary CEO that is pending in federal…

Foreign exchange trading; “Same as it ever was”. A market ripe for disruption Blog,Commentary,Financials

Ray McKenzie

When I first began trading FX in the age when dinosaurs roamed the earth, spot was traded through brokers and once in a while on the Reuters dealing system or via Telex. And of course direct over the phone. It took much prodding, begging and pleading to convince the brokers and the banks to allow Morgan Stanley (where I traded) to be allowed to use the broker market. Our argument was that we really were a customer and not a competitor because we were hedging client flow that the banks wouldn’t see anyway. To some extent that was true, but…

John Lothian Newsletter: JPMorgan settles forex manipulation lawsuit; Ponzi Victims Seek to Query Madoff Before It’s Too Late; Swap Markets Debate Anonymous Trading in SEFs John Lothian Newsletter,Newsletter

First Read Bits & Pieces by John J. Lothian Every year the CBOE holds a press lunch in Chicago in January. It is normally a very nice affair with a good turnout of Chicago-based industry journalists. It was after last year’s press lunch that I wrote a column titled “The CME Should Buy the CBOE Soon.” On January 24, 2014 the price of the CBOE stock was about $50. It closed that day at $50.03. The lowest it has traded since that day is $46.73. Yesterday the shares in CBOE Holdings, Inc. hit $65.00. That is up 30% in about…

JLN Options: Goldman Sachs’ Top 10 Trade Ideas for 2015; Volatility trading and quantitative macro hedge funds outperform in October; China is open for trading Newsletter,Options

Observations & Insight Today’s newsletter features a snapshot of volatility from around the world, starting with China and moving to OPEC, the Eurozone and finally to the U.S.. We also feature volatility among asset classes, including equities, gold, energy and foreign exchange. But first, have a look at a fun 15-minute look at the importance of happiness, in this MarketsWiki Education talk with FIA Europe CEO Simon Puleston-Jones. Then, have a nice weekend.   Simon Puleston Jones, CEO of FIA Europe – In pursuit of Happiness JohnLothianNews.com “Try to find someone who does things right that you really aspire to…

Charlotte Crosswell, CEO, Nasdaq NLX – Startups Aren’t Just Found in Garages Video

“When people are sitting there talking about you and criticizing you or doing something against you, that means they’re taking notice.” Charlotte Crosswell, CEO of Nasdaq NLX, talks about her introduction into the financial industry and how she found herself in her current role. Beginning with a temporary position at Goldman Sachs, Crosswell assisted a salesperson who needed someone who understood French. She later moved on to the London Stock Exchange and has been in the exchange world ever since. Because of her own experiences, Crosswell emphasizes the importance of work experience versus just having a degree. Crosswell also discusses…

John Lothian Newsletter: How did AlphaMetrix go so wrong; Goldman Sachs revenue falls 20% on lower trading; India to Launch Interest Rate Futures John Lothian Newsletter,Newsletter

First Read Steely Eyed: Why Mike Marley of Metalprices.com says there is a future for steel and scrap futures Sarah Rudolph, John Lothian News Mike Marley is market intelligence correspondent for MetalPrices.com. He is the editor of the newsletter Marley’s Heavy Melt, in which he reports on metals prices, focusing in particular on steel scrap. Marley has more than 35 years’ experience in the metals industry and has been reporting ferrous and non-ferrous scrap prices since 1977 – first for Iron Age magazine, followed by the American Metal Market, and most recently World Steel Dynamics. He sat down with JLN’s…

Managed Futures Bloomberged, Part 1 Commentary,Managed Futures

John Lothian

Wow!  That was quite the trashing of managed futures in a Bloomberg story by David Evans on Tuesday.  The Gawker website took the story about managed futures to new depths with this headline: “Here Is Perhaps the Single Biggest Ripoff on Wall Street” If I was selling junk bonds, penny stocks, stock loans, reverse mortgages, or synthetic collateralized debt obligations, I would be feeling pretty good right now.  Those managed futures charlatans are the new bad boys of Wall Street.  Yeehaa! Having been a commodity trading advisor for nearly a decade, I found the article appalling on multiple levels.  On…

Class Action Lawsuit Filed Against LME and Goldman Sachs Alleging Aluminum Manipulation Blog,Metals,Regulation

Aluminum

An aluminum processing company has launched a class-action lawsuit against Goldman Sachs and the London Metal Exchange alleging that they conspired with each other to restrain supplies of aluminum in the LME warehouses and inflated aluminum prices. The complaint accuses the two companies of violating the Sherman Anti-Trust Act by agreeing to operate in “an extremely inefficient manner” and to “provide extremely low quality of service” in the warehousing arena. The class-action suit, brought by Superior Extrusion, Inc. et al., comes shortly after a New York Times article broke the story that Goldman Sachs was profiting – at the expense…