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Bear Stearns Meltdown Wreck; Decision time for Michael Spencer; Deductive Reasoning or Insider Trading? John Lothian Newsletter,Newsletter

First Read Potential CME-NEX Deal Is Full of History, Dilemma, Risk and Reward John J. Lothian – JLN For many years, the Chicago Board of Trade had cash treasuries envy, wanting to add the trading of cash treasury bonds and notes to its offerings. For many years, the CME has had cash currency trading envy. Both exchanges, now part of the CME Group, have tried to compete in cash Treasury and FX through various collaborations and initiatives. None of them succeeded. Chicago Board Brokerage and FXMarketSpace are long gone, but the desire to add treasuries and cash FX trading has…

Insider trading has been rife on Wall Street, academics conclude; Singapore Bourse Seeks to Defuse Tensions With Indian Counterpart; Booming Demand for Clearing Options, Futures Contracts Fuels OCC’s Growth John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff The National Stock Exchange of India will end its licensing arrangements with SGX, CME Group, Taiwan Futures Exchange and Osaka Securities Exchange, according to Bloomberg. Given the ongoing limited access to the Indian market, this can’t be good for NSE, even with a new tax-free trade zone. ~JK ICE is set to relaunch the National Stock Exchange, purchased last year, as NYSE National, a maker-taker pricing model.~JK Cliff Histed, a partner at K&L Gates LLP will be moderating the Enforcement Actions panel at the ABA’s “2018 Blockchain Technology, Digital Currency, and ICO National…

The Kooky News for Friday the 13th Blog,Commentary,Options

Befitting the day, there are indeed some weird happenings in our markets. First, recall the release yesterday – TradingScreen Majority Shareholders Initiate Criminal Legal Action Against Giampiero Grandi, Board Chairman, For Misappropriation Of Corporate Assets. TradingScreen responded to that release with a statement, saying the allegations made were: “false, baseless, and meritless, and has been propagated by the company’s disgruntled former CEO [Philippe Buhannic], who was fired by the Board for cause last year after intentionally hitting an employee in front of numerous witnesses and attempting to cover it up, as well as for other corporate malfeasance. This individual neither…

Push for MiFID II Delay; Libor settlement; Bond volatility Newsletter,Options

Observations & Insight The Kooky News for Friday the 13th Spencer Doar – JLN Befitting the day, there are indeed some weird happenings in our markets. First, recall the release in Observations yesterday – TradingScreen Majority Shareholders Initiate Criminal Legal Action Against Giampiero Grandi, Board Chairman, For Misappropriation Of Corporate Assets. TradingScreen responded to that release with a statement, saying the allegations made were: “false, baseless, and meritless, and has been propagated by the company’s disgruntled former CEO [Philippe Buhannic], who was fired by the Board for cause last year after intentionally hitting an employee in front of numerous witnesses…

Deutsche Borse agrees to pay EUR10.5m over CEO insider trading probe John Lothian Newsletter,Newsletter

First Read Hits & Takes Students who want to learn about the financial services field are invited to join us at our October 16th MarketsWiki Education Intern Recruiting Event Chicago, where financial services professionals will deliver informative presentations about careers, trends and opportunities in our global markets. This event also includes a new job fair for student internships in 2018. ~JB Overall precious metals volumes at CME Group are up 49 percent through August over last year.~JK BlockexMarketsMarkets, a “digital asset creation, issuance and trading platform,” is open for trading.~JK ++++ Intercontinental Exchange Announces Volume Record in MSCI Index Futures…

Suspect trading in Equifax options; Risks From ‘Shadow Insurance’ Business; $1 Silver Options Bet Newsletter,Options

Observations & Insight House passes hurricane aid, debt ceiling extension, government funding Christina Wilkie – CNBC The House of Representatives on Friday overwhelmingly backed the Senate’s version of a bill raising the nation’s borrowing limit for three months, funding the government and providing $15.3 billion in aid for victims of Hurricane Harvey. jlne.ws/2weDgQP ****SD: It’s not your imagination — there are more curveballs thrown of late. See the Sports Illustrated cover story from May – Forget velocity, the curveball’s resurgence is changing modern pitching. ++++++ TradeStation Expands “TradeStation Salutes” Program to Include First Responders Program Now Offers Commission-Free Trading for…

How Fair Is Stock Trading? The SEC May Decide; U.S. Gets Easier Path to Insider-Trading Convictions John Lothian Newsletter,Newsletter

First Read Hits & Takes Can you get transcendent for charity? – ohmmmmm, yes. Check out the SweatForALTSO X ASCEND event Sept. 6th in Chicago. It’s a yoga/meditation event and part of the series of active events A Leg To Stand On usually hosts in New York. This is ALTSO’s first such Chicago event! ~JK Hoosier humor. The increasingly funny Walt Lukken had the tweet of the day yesterday when he posted “Life’s constants: Death, taxes and Lothian’s plugging of Pat Kenny. Great advice for interns” along with links to the Pat Kenny MarketsWiki Education video.~JJL US Bank branch manager…

Long-Term Investors are Gamblers?; Insider Trading Case Tests Friendship; Math Geeks Scramble to Defend Index Boon John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff People lined up on LaSalle Street at midday yesterday like there was a sports championship parade happening. Instead, it was just an eclipse.~JJL John M. Ruth has joined Grey Street Capital as Chief Operating Officer. Ruth was formerly the CEO of ABN AMRO Clearing Chicago LLC.~JJL Check out SGX‘s Bull Charge, Climb for Charity.~JJL Cinnober has taken over the @MovetoStockholm Twitter handle for the week.~JJL Bruce Tuckman was appointed chief economist at the CFTC yesterday. And tells us he couldn’t be Chicago Mayor Rahm Emanuel‘s older brother. ~SD At the NFA yesterday,…

Deutsche Börse probe widens; DRW to Buy HFTer RGM; Trump’s business councils fall apart John Lothian Newsletter,Newsletter

First Read No, Not the VIX – the VSTOXX Sarah Rudolph – JLN Even your dog has heard of the VIX, the Chicago Board Options Exchange‘s benchmark volatility index, but the VSTOXX, the benchmark for volatility in European stocks, is less of a household name in the U.S. Eurex has been trying to change that by adding more and more functionality to their VSTOXX products, starting out with spot prices and futures contracts on the index and then more recently moving into options on futures and ETNs. Yesterday, Eurex and Rival teamed up for a meetup in Chicago at a…