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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…

ITG and Options Technology Group to establish derivatives execution business; Equifax options Newsletter,Options

Observations & Insight A Brief Visual History of Being Short VIX RCM Alternatives If you aren’t using Stocktwits to track your favorite stock symbols, you may be doing it wrong. There are spam and oddballs and all the rest you would expect of a social network, but the gif game is usually off the charts. Here are some of our favorites from the world of short VIX traders of $SVXY. bit.ly/2xqKjK2 ****SD: For another fun picture from social media, check out Nassim Taleb in Bermuda. Lead Stories ITG and Options Technology Group to establish derivatives execution business Finextra ITG, a…

Sun Trading up for sale; Plight of Deutsche Boerse’s Kengeter; MiFID negotiations John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff Resumes from students interested in the MarketsWiki Education Recruiting event on October 16 are starting to flow to us. If you know of a student who may be interested in an internship opportunity in the industry, please direct them to www.marketswikieducation.com. Look for the “Send Us Your Resume” link in the upper right. Our sponsors for the event so far include CBOE, Geneva Trading, OCC, ED&F Man Capital Markets, Fidessa and NFA.~JJL Students attending our MarketsWiki Education Recruiting event can get a FREE studio quality photo taken at the event, courtesy of…

Problems, Solutions and Results – Elaine Wah Feature,MarketsWiki Education,MWEd,Video,video

“Ultimately I think that anyone who believes in fairness, or believes that people should compete on the merits of their ideas and hard work rather than advantages that they have purchased, can appreciate why IEX was created and why it has succeeded so far.” In this video from MarketsWiki Education’s World of Opportunity event in New York, Elaine Wah, who works in market quality at IEX, discusses algorithmic trading strategies and the effects on investors. IEX was built with the goal of protecting investors as well as providing better execution quality. The exchange also wants to level the playing field…

Chicago’s Newest Trading Floor Will Be Staffed by Humans; Standard Chartered eyes New York energy trading, bucks Wall Street trend: sources; Complex short Vix products draw fire as vol plumbs lows Newsletter,Options

Observations & Insight BOXing: Let the Bodies Hit the (Options) Floor Spencer Doar – JLN Golly, there’s been a ton of action in options markets lately. First, the surge of crypto news. Last week, MIAX’s investment in LedgerX received airtime as LedgerX was approved as a derivatives clearing organization (DCO), paving the way for bitcoin options. Then CBOE got into the fray with its announcement yesterday that it has partnered with Gemini, the cryptocurrency endeavor backed by the Winklevoss twins, to use its market data to create bitcoin futures. (I expressed my skepticism of the timeline laid out by CBOE…

European watchdogs to clamp down on risky retail trading; China’s high-frequency traders in retreat after court verdict; Wealth Management Industry Hit by Lower Fees, Fewer New Clients John Lothian Newsletter,Newsletter

First Read Living With Uncertainty Again By Jim Kharouf, JLN Yesterday’s Trading Chicago event, co-hosted by FOW and John Lothian News, brought together more than 30 speakers and about 210 participants who addressed pressing issues for our industry – ranging from US and EU regulations to technology to markets. As was outlined by keynote speaker Craig Pirrong from the University of Houston, the industry is dealing with the ripple-on effects of the Dodd-Frank Act, or as he likes to call it, “Franken-Dodd.” His relentless critique of the act and subsequent rulemaking by US regulators ended with some resignation that the…

Goldman-Backed High-Speed Trading Network Sold for $39.5 Million; The Dutch Have Solutions to Rising Seas. The World Is Watching.; HFT – Not so flashy anymore John Lothian Newsletter,Newsletter

First Read Eurex CEO Sees Plenty of Structural Growth Potential JohnLothianNews.com “We also see a lot of structural growth potential… If we look at the equity index complex, there is a clear trend of many asset managers moving to passive investment structures. We see that … on the derivatives side [adding] new liquidity pools to global index families.” Thomas Book, CEO of Eurex Frankfurt AG and Eurex Zurich AG, believes the exchange can take advantage of the opportunities presented by a changing European landscape. Low interest rates for a long time equated to low interest in Eurex’s fixed income offerings…

HFT – Not so flashy anymore; Vicious VIX; JPM Head Quant Warns Of “Catastrophic Losses” For Short Vol Strategies Newsletter,Options

Observations & Insight An Excerpt of Note Spencer Doar – JLN I am re-reading “Liar’s Poker” because…I don’t really know why — maybe it’s just summer instinct with all these reading lists floating around. Anyway, about a quarter of the way in, there’s a notable anecdote from Michael Lewis’ training program at Salomon: “‘When you trade equity options,’ asked my friend Franky, ‘do you hedge your gamma and theta or just your delta? And if you don’t hedge your gamma and theta, why not?’ The equity options specialist nodded for about ten seconds. I’m not sure he even understood the…