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OCC’s move to ‘Cover 2’ won’t cost members more, CRO says Newsletter,Options

Observations & Insight The Spread – 8/10 – Pump up the Vol(ume) JohnLothianNews.com In this week’s recap of happenings in the options world we delve into some confusing terms, Spinal Tap and Recep Erdogan’s plight. Watch the video and see the stories referenced here » ++++ Turkey’s Collapse Sinks Emerging Markets on ‘Manic Monday’ Rita Nazareth and Ben Bartenstein – Bloomberg (SUBSCRIPTION) Turkish measures could be too little, too late, analysts say; Argentine century bond yield surges to 10% as peso tumbles Turkey’s market carnage rippled across emerging markets, sending both stocks and currencies toward their lowest levels in a…

Big Data: Too Popular for its Own Good? John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff Today is your last chance to save $75 on tickets for A Leg to Stand On’s Rocktoberfest charity events in Chicago and New York! ~SD In Q2, ICOs raised $8.3 billion versus $3.3 billion in Q1. The average return of ICO tokens in Q2 was -55 percent.~SD Brazilian exchange group B3 reported that Q2 average daily volume in its derivatives segment rose 36.7 percent over Q1, and 4.7 percent year-over-year.~JK According to Preqin, there are now 499 members of the “Billion Dollar Club,” which is what it calls those institutional investors who…

OCC Clears the Path to Greater Capital Efficiencies for Clearing Firms in U. S. Exchange-Listed Options Markets Newsletter,Options

Observations & Insight Trump’s trade ‘extortion’ won’t work, China state media says Andrew Galbraith, Michael Martina – Reuters Chinese state media on Monday lambasted U.S. President Donald Trump’s trade policies in an unusually personal attack, and sought to reassure investors anxious about China’s economy as growth concerns battered its financial markets. /jlne.ws/2OKbxSy ****SD: Also see CNBC’s Beijing is more worried about domestic issues than its trade war with Washington, research firm says and Bloomberg’s chart recap Here Are the Shots Fired So Far in U.S.-China Trade War Lead Stories OCC Clears the Path to Greater Capital Efficiencies for Clearing Firms…

OCC Financial Safeguards Framework Approved by SEC Newsletter,Options

Observations & Insight The Spread – Rimshot Please – 7/27 JohnLothianNews.com We’ve added more props for this week’s episode of “The Spread” for your viewing pleasure! Watch the video and see the stories referenced here » ++++++ Monday Miscellany Spencer Doar – JLN Russell Rhoads has left the Cboe after a decade with the exchange and starts a new role today with the TABB Group. Priceonomics posted a blog about which companies in the S&P 500 generated the most revenue per employee (RPE) in 2017. 13 of the top 20 companies belong to the energy sector – Valero is #1…

Facebook braces for stock wipeout as lower margins loom Newsletter,Options

Observations & Insight Mini-Manipulation Miscellany Spencer Doar – JLN Some of you are probably on the Security Traders Association mailing list. Tuesday’s email discussed FINRA’s surveillance priorities when multiple products are involved. The note is of particular interest for options market participants as the two key areas of focus mentioned are mini-manipulation and anticipatory hedging. The former involves trading a stock in order to benefit its options’ pricing and a common example of the latter is a broker front-running a customer order. (The note is worth a look just for the access to the archival PDF of the SEC’s 1978…

Asset owners, fearful of volatility, flock to risk mitigation strategies Newsletter,Options

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Observations & Insight Options Exchange Stats in June – Some Highlights Spencer Doar – JLN OMX PHLX, Cboe and MIAX led all exchanges in percentage of time spent at best bid/offer AND greatest size, according to Tabb’s Options Liquidity Matrix, coming in at 23.3 percent, 17.5 percent and 13.4 percent, respectively. The top three ranking changes when you remove greatest size and just focus on percentage of time at best bid/offer. Then the top three are BATS BZX, NYSE Arca and Nasdaq, with 81.3 percent, 73.3 percent and 71.4 percent, respectively. The lead exchanges in terms of average contract size…

Another Volatility-Linked Exchange-Traded Product Bites the Dust Newsletter,Options

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Observations & Insight Richard Elden, Innovative Hedge Fund Investor, Is Dead at 84 Matt Phillips – NY Times Richard Elden, a journalist-turned-investment manager who was an early investor in a number of notable hedge funds, died on June 27 at his home in Chicago. He was 84. /nyti.ms/2JtuJAh ++++ Theresa May’s steely warning to Tory rebels AND those bully boys from Brussels Daily Mail Online Our Brexit deal for Britain seizes the moment to deliver the democratic decision of the British people and secure a bright new future for our country outside the European Union. /dailym.ai/2Lnqk3u ****SD: This editorial from…

Treasury future and options trades favour lower yields Newsletter,Options

Observations & Insight OCC Statement On Passage Of H.R. 5749 Press Release “OCC and the U.S. Securities Markets Coalition applaud passage of H.R. 5749, the Options Markets Stability Act. Passage of this legislation, sponsored by Representatives Randy Hultgren (R-IL) and Bill Foster (D-IL), is an important step forward in helping ensure that market makers can provide vital liquidity for investors who use the U.S. equity options markets to help manage their financial risk. OCC appreciates the leadership of Representatives Hultgren, Foster, House Financial Services Committee Chairman Jeb Hensarling (R-TX), Ranking Member Maxine Waters (D-CA) and the other members of the…

IEX hires former ISE executive Ilyevsky to lead market development Newsletter,Options

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Observations & Insight EU Parliament and ECB Taking a Look At Cryptocurrencies Thom Thompson – John Lothian News Last week, which admittedly was a slow financial markets news week, headlines in the cryptocurrency press announced that a new EU report told officials not to ban bitcoin. Blockchain News said the report “. . . blasts economists who criticize cryptocurrencies.” There was no blasting. While the report prepared by an EU policy department did provide some sound bites, it was one of five reports about central bank monetary policy toward virtual currencies that the EU Parliament had requested. If the briefing…