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Off-hour Earnings and Options; Swedish Bank Bosses Escape Options Blow-up Blame; HFT Tales Newsletter,Options

Lead Stories How Do Traders Respond to Off-Hour Earnings Announcements? Based on the research of Matthew R. Lyle, Christopher Rigsby, Andrew Stephen and Teri Lombardi Yohn – Kellogg School of Management at Northwestern University On Wall Street, “business hours” aren’t quite what they seem. The opening bell of the New York Stock Exchange rings at 9:30 a.m. Eastern, and the closing bell sounds at 4 in the afternoon—yet 95 percent of publicly traded companies announce their quarterly earnings outside of those official hours. jlne.ws/2qrxvSw ****SD: Basically, people are slow to react to earnings announcement the further they are from normal…

Oil Signals to Watch in 2018; 2018, the year of the active fund manager?; Chicago firms gear up for MiFID Newsletter,Options

Observations & Insight Editor’s Note There will not be an edition of JLN Options tomorrow – we will be back January 2, 2018. So, this marks our last email (on a pretty thin options news day) of an extremely eventful year, yet one historically devoid of volatility. Here’s to 2018! Maybe the VIX will hit 30, the short vol trade will get busted up, market makers will proliferate, fees will decrease, capital rules will make sense, roses will smell better and a whole bunch of other stuff. See you then. Lead Stories Five Oil Signals to Watch in 2018 Alex…

Chicago firms gear up for MiFID II; EU exchanges clash with customers over fees; South Korea Considers Closing Bitcoin Exchanges John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff This is the second to last edition of the John Lothian Newsletter for 2017. Tomorrow we will publish JLN, but not JLN Options or JLN Asia Pacific News.~JJL Eurex‘s trading calendar for the new year can be found HERE.~JJL There were a couple of commodity related explosions this week. First, a Libyan crude oil pipeline was blown up by suspected terrorists, helping move prices. It is believed it will take a week to get the pipeline back online. Then there was an explosion at an Argentinian grain terminal owned by COFCO that killed…

US exchanges to face lawsuit over dealings with HFT; TCI fails in bid to oust London Stock Exchange chairman John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Hamilton’s Report on Manufactures: Hamilton reasoned that to secure American independence, the United States needed to have a sound policy of encouraging the growth of manufacturing and ensure its future as a permanent feature of the economic system of the nation. @Wikipedia~JJL Beware – next time you’re surfing around the internet, you might be the victim of “cryptojacking”, websites that “hijack” your CPU to mine a particular cryptocurrency (though not bitcoin as that mining now requires specialized, higher power hardware). The folks at Merriam-Webster better be taking a lot of notes on all…

OCC tech upgrade; Robinhood’s free options trading; 50 Cent’s losses Newsletter,Options

Lead Stories Tech Upgrade Commands CFO’s Focus; Amy Shelly of Options Clearing Corp. faces several challenges in replacing the organization’s outdated platform. David McCann – CFO Magazine The privately held financial-market utility that settles and clears transactions for all 15 U.S. option exchanges and 3 futures exchanges has a problem: Its technology is woefully outdated. /goo.gl/Kq1s6Y ****SD: Lots for OCC to consider: Roll it out piecemeal or all at once? Finance the project how? Buy or build? For more, see JLN’s piece earlier this year – Cloudy with clearing: What the next clearing house looks like ***SR: Amy Shelly is…

What Does Your Cloud Data Look Like? QuantHouse Is Moving Historical Data On-demand To The Cloud Blog,Feature,Fintech,Tech / HFT

The data cloud shift aims to transform how firms research, trade and evaluate their strategies It’s all about the data. The lifeblood of trading is simply that – data – how to get it, how to decipher it and how to trade off it. The good news for traders is that it is now more accessible, flexible, and researchable than ever, especially with the rapid evolution of cloud technologies. QuantHouse, a market data, algo development and trading infrastructure provider, is pushing hard to move its data to the cloud, a strategy that Pierre Feligioni, co-founder and CEO of QuantHouse, says…

Goldman exits options market making; Historic volatility; SocGen struggles Newsletter,Options

Lead Stories Goldman Sachs to Withdraw From Part of U.S. Options Market Brian Louis – Bloomberg Will stop serving as a market maker on U.S. exchanges; Traders struggling with high costs, low volatility in options Goldman Sachs Group Inc. will stop serving as a market maker on U.S. options exchanges, following others in exiting that business amid high costs, sluggish volume and low volatility. /goo.gl/hxa23m ****SD: WSJ here. What’s the tech angle? More bronze than gold? Other “Goldman struggles” news from Reuters – Goldman taps energy execs in bid to turn around commodities unit Historic Volatility Recently Dropped Below 1.7…

Bitcoin Hurdles; The 871(m) Tax Problem; Quarterly and Monthly Volumes Newsletter,Options

Observations & Insight OCC Cleared Contract Volume Up 20 Percent in October OCC OCC, the world’s largest equity derivatives clearing organization, announced today that cleared contract volume in October was 381,467,272 contracts, a 20 percent increase from October 2016 monthly volume of 318,439,491 contracts. Average daily volume at OCC is up four percent year-to-date in 2017 with 17,070,435 contracts. OCC’s stock loan program reported that securities lending activity was up 30 percent in October and 21 percent year-to-date. jlne.ws/2A7Kjhy ++++++ Are you on the right side of Bitcoin history? By John Lothian of JLN Shortly after JLN was published yesterday…

DRW leads high frequency trading charge into cryptocurrencies; EEX and CBEEX partner for carbon market development in China John Lothian Newsletter,Newsletter

First Read Hits & Takes The European Energy Exchange is quietly turning into a global commodities market. Just months after buying the Nodal Exchange, the US power market, it signed a memorandum of understanding with the China Beijing Environment Exchange (CBEEX). MOUs are generally not much to talk about and this one may fall into the file with most of the others. But in the off chance it becomes a partnership, it could open the European and Chinese carbon markets to one another – creating a massive opportunity for traders looking for a burgeoning market to trade. China’s president Xi…