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ICE working on bitcoin platform; SEC’s Piwowar stepping down; NY AG quits John Lothian Newsletter,Newsletter

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First Read Hits & Takes JLN Staff Galina Hale, Arvind Krishnamurthy, Marianna Kudlyak and Patrick Shultz from the Federal Reserve Bank of San Francisco have published an economic letter, “How Futures Trading Changed Bitcoin Prices.”~JJL You may know Matthew Scharpf as the extraordinary vice president of fixed income derivatives and clearing, Americas at Eurex in Chicago. But he’s an equally talented musician with a new album called “All That I’ve Left” which is now officially released and available on iTunes, Amazon, Spotify, Pandora, Napster and CDbaby. Matt’s band will be playing live on May 12 at Wire in Berwyn, IL…

Wall Street Is About to Answer the Good/Bad Volatility Question John Lothian Newsletter,Newsletter

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First Read Hits & Takes JLN Staff Readers, we have an industry colleague, Tony DiBenedetto, who needs our help. Tony is a 35-year industry veteran who spent his entire career at NYMEX. After leaving the NYMEX six years ago he has had trouble finding full-time work. His wife is battling cancer and he is facing foreclosure on their home. A Go-Fund-Me effort has been started to raise $25,000 to help him. So far $18,980 has been raised. Please consider helping Tony. Click HERE to go to his Go-Fund-Me page.~JJL Additionally, a Go-Fund-Me page has been created for the family of…

Big bank tech arms race; South Korea Detains Crypto Execs; Rival Fidessa acquisition bidders ION and SS&C John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Euronext celebrated the 40th anniversary of its options exchange in Amsterdam yesterday. In conjunction, they also celebrated Drumming Day, a centuries old tradition commemorating the bravery of an orphaned boy who saved Amsterdam’s stock exchange from the Spanish during the Eighty Years’ War.~JJL It’s not surprising that once volatility returns, the media starts to cover options markets more. As such, yesterday’s JLN Options newsletter was chock full of content, including background on the Greek general Thucydides, an IP spat, convexity, unprepared traders and a dig at David Einhorn’s confusion over why his fund…

MIAX Challenges Nasdaq Options Patents; Crisis hedge funds’ lackluster performance Newsletter,Options

Observations & Insight With trade war, U.S. and China stumble into the Thucydides Trap John Kemp – Reuters The United States and China have fired the opening shots in a trade war that may be hard to stop. /jlne.ws/2GxA4tV ****SD: Regardless of the situation, whenever I see Thucydides mentioned I have to reread the Financial Times Alphaville article For the love of Zeus, stop misusing Thucydides from last summer for context. It’s well worth the more in depth history lesson/tuneup. Surprisingly, three of the four Trump officials referenced in the piece who are known for their Thucydides fandom are actually…

13-Year High for Nasdaq Fear Premium; Lessons from Corrections Past Newsletter,Options

Lead Stories Tech Stocks Fear Premium Just Jumped to a 13-Year High Luke Kawa – Bloomberg The disruptors are getting ditched as tech fear spreads well beyond Facebook. /bloom.bg/2uxHl74 ****SD: Different chart on same subject from Bloomberg. Also from the WSJ – Tech’s Risk Bill Comes Due The Lesson From Stock Corrections Past? 200 Days of Pain Lu Wang, Sarah Ponczek and Elena Popina – Bloomberg S&P 500 fell 14% on average in five similar selloffs since ’09; Current rout would rank at bottom in duration if ended now Remember the last time stocks fell so hard? You probably don’t,…

Market’s $3 Trillion Trauma; FCA and CFTC to collaborate on fintech innovation; Euronext Plans More Acquisitions John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Welcome to Presidents’ Day in the U.S. This is the day when U.S. Presidents have historically taken the day off from Twitter. Just kidding. But it is the day we are not going to publish JLN Options and the JLN staff gets the rest of the day off. Have a great day!~JJL Last week’s CryptoCon 2018 produced some interesting insights into the cryptocurrency space. DRW Cumberland’s Bobby Cho and Jim Radecki revealed just how large that operation is today, with crypto trades representing about 25 percent of DRW’s trades on 30 different currencies…

Bitcoin tumble; CurveGlobal readies fixed income push; Market rout; Robo-advisers crash John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff ICE’s NYSE FANG+ futures had record volumes on Friday last week with 7,884 contracts trading. That was one of three new record trading days last week, and average daily volume for the week was 3,278.~JJL Yesterday was the biggest one-day move for the VIX in percentage terms, up 115.6 percent.~SD Mark your compliance calendar for May 11! That’s the date on which compliance with new FinCEN Anti-Money Laundering rules (published May 11, 2016) is required. Courtesy of our friends at Exchange Analytics, who offer an AML course and more.~JJL CurveGlobal raised another £20…

London loses oil futures listings as Mifid bites; Wall Street Is Claiming Tax-Cut Bounty; South Korea plans to ban cryptocurrency trading John Lothian Newsletter,Newsletter

First Read A Grateful Scouter with a Big Silvery Beaver-Like Smile By John Lothian I was informed late last night that I am to be recognized for my contributions to Scouting with a Silver Beaver Award on behalf of Pathway to Adventure Council of the Boy Scouts of America. The Silver Beaver Award recognizes “registered Scouters of exceptional character who have provided distinguished service within a council.” I am honored to be recognized for my work on behalf of the Scouts, but this award is as much about you, the readers of this newsletter, and my creative and persistent use…

Bitcoin and the Value of Financial Freedom; Atlanta’s Intercontinental Exchange seeks to trade bitcoin funds on NYSE John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Women in Listed Derivatives, an organization that promotes career advancement and professional relationship-building among women in the OTC & Listed Derivatives Industry, announced its North American board of directors for 2018. The five open board seats will be filled by: Katie Cleland, Elizabeth Cook, Caroline Gillard, Ellen Greene, and Leslie Sutphen. You can find the announcement HERE.~SR ADMIS is heading to the beach for their annual Introducing Broker conference. This year’s event was held in Clearwater Beach, FL.~JJL CQG hosting a Live Ask Me Anything Event today at 2:30 CT.~JJL Yesterday’s JLN Options…