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VIX Manipulation Costs Investors Billions, Whistle-Blower Says; High-Speed Traders Profit From Return of Loophole at CME; Tighter monitoring for computer trading demanded John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff The SEC’s 2019 budget request of $1.658 billion is a 3.5 percent increase over 2018. The majority of that extra funding, $45 million, would go to “technology enhancements to support the agency’s cybersecurity capabilities, risk and data analysis, enforcement and examinations, and automation of business processes.”~SD The CFTC’s budget request of $281.5 million for fiscal year 2019 would support 716 full time employees. CFTC Commission Brian Quintenz pointed out that in FY 2016, the agency had 714 full time employees, 689 in 2017 and 670 this year.~JK Economist/Stanford professor/auction theorist Paul Milgrom received…

The High-Speed Trading Behind Your Amazon Purchase; Traders used poker games and food menus to make a killing off illegal trades and cover it up but then AI found out; LSE shareholders: no need for board overhaul if tie-up tanks John Lothian Newsletter,Newsletter

First Read JLN Exchange Leader Series 2017: By Leveraging Bats’ Technology, CBOE’s Tilly Wants To Expand Footprint JohnLothianNews.com CBOE Holdings arguably had its biggest year in history in 2016 with the purchase of Bats Global Markets for $3.2 billion. The deal expanded CBOE’s footprint in the securities space in the US and in Europe, plus forex as well. It also provided a new technology platform to keep CBOE competitive. Read the rest and watch the video » ++++ CloudMargin gains traction: Remote processing and storage is here to stay in financial services Spencer Doar – JLN There is no more…

JLN Options: When options trading ahead of deals raises eyebrows Newsletter,Options

COMMENTARY & INSIGHT From the John Lothian Newsletter: One Giant Step for ISE…Gary KatzSince John was gracious enough to let me stand on his soapbox this week, I am going to use it for a little shameless self-promotion this morning. As I hope many of you have already seen, ISE announced the brand name of our second options exchange yesterday – ISE Gemini. While we are still pending regulatory approval and expecting to launch in late Q2, this is another major step forward for us. The name itself was chosen through an internal committee which honed in on Project Gemini…

JLN Options: CBOE Pays Fat Dividend, Stock Tagging New Highs Newsletter,Options

LEAD STORIES CBOE Pays Fat Dividend, Stock Tagging New HighsZacks.com (via Forbes)CBOE Holdings (CBOE) has been gaining traction with an annual dividend yield of 3.9% and a long-term growth rate of 12.5%, making this options and futures leader a promising pick for investors seeking both growth and income.http://jlne.ws/123WfMx Volatility returns to spook Wall StreetAnora Mahmudova, Financial TimesUS equity markets began the week on slightly sour note, as stronger-than-expected durable goods data did little to lift the markets.Businesses invested far more in December, with orders for durable goods jumping 4.4 per cent. A surprise jump at the end of the year…

JLN Options: Investors Seek More Transparency on Corporate Hedging, Derivatives Exposures Newsletter,Options

LEAD STORIES Investors Seek More Transparency on Corporate Hedging, Derivatives ExposuresEmily Chasan, The Wall Street JournalCorporate disclosures on hedge accounting and derivatives trading are so opaque that investors are often unable to see the true risks companies face from engaging in those activities, according to a new report from the CFA Institute, which is recommending companies improve disclosures in those areas.http://jlne.ws/W91pQf S&P 500 Advances to Five-Year High on Economic ReportsBy Rita Nazareth & Sarah Pringle, BloombergU.S. stocks rose, sending the Standard & Poor’s 500 Index to a five-year high, amid better- than-forecast initial jobless claims and housing data.http://jlne.ws/XGRl34 GFI announces…

JLN Options: Brokers Face Off Against Exchanges at Today’s Senate Hearing Newsletter,Options

Lead Stories Brokers Face Off Against Exchanges at Today’s Senate HearingPeter Chapman, Traders MagazineRepresentatives from two exchanges and two broker-dealers will likely air their differences today during a hearing hosted by the Senate Banking Committee.http://jlne.ws/12AhROv Derivatives traders optimistic for 2013, according to Risk.net pollRisk.netThe majority of respondents to a Risk.net poll expect to make more money from derivatives trading next year, despite the onset of new regulations in 2013 and continuing problems in the eurozone.http://jlne.ws/ZiRC15**Nice to know that “things can’t get much worse than 2012.” — SR ‘Un-Volatility’ Funds Hit Fresh Lifetime HighsBrendan Conway, Barron’sThere’s an incredibly wide array of,…

JLN Options: Cheap volatility, but big potential in China Newsletter,Options

Lead Stories Cheap volatility, but big potential in ChinaAndrew Giovinazzi, MarketWatchLook at the VIX inch up in the face of very slow market activity . After trading the S&P 500 on the CBOE when I was younger, I can tell you what that feeling is. The paper is very thin, and it is buying options out of fear. Liquidity providers keep raising the prices since they don’t want a large position right now waiting for some answer out of Washington.http://jlne.ws/YP6Vgr How Did Wall Street Do on Sandy? Jacob Bunge, The Wall Street JournalSecurities-market regulators are seeking details on the performance of…