Breaking News

Tag Archives: ITG

Virtu/ITG – Two great tastes; Tradeweb chief stokes M&A speculation; Rate worries JLN Options Newsletter,Newsletter,Options

Observations & Insight Monday Miscellany Spencer Doar – JLN Front month VIX futures are (still) trading higher than November VIX futures, albeit not my much (as of this writing). There was no episode of “The Spread” this past week. We are working on some special Spooktacular editions about the fear gauge. Stay tuned. John was in D.C. this past week. He attended Friday’s CFTC Technology Advisory Committee (“TAC”) meeting and shared his opinion on crypto. (His comments start at ~103:30, just after Gary DeWaal.) There is yet another hurricane threatening the U.S. – Michael strengthened to a Category 1 and…

Virtu Is Pursuing ITG Takeover; Speculative Hedge Fund Bets JLN Options Newsletter,Newsletter,Options

Lead Stories Virtu Is Pursuing Takeover of Investment Technology Group Nick Baker and Annie Massa – Bloomberg (SUBSCRIPTION) Companies have been holding recent discussions about a deal; Potential transaction would follow Virtu’s purchase of KCG High-speed trading firm Virtu Financial Inc. is seeking to acquire independent brokerage Investment Technology Group Inc. as pressure mounts for proprietary traders to branch out. /jlne.ws/2Qt0n4M ****SD: Wow. The consolidation trend marches on (potentially). Volatility likely to reach capital markets eventually, experts say Charles Tomlinson – SmartBrief Capital markets haven’t shown much of a response to economic volatility, but that is likely to change, panelists…

Exceed targets Cboe in trade secrets case; New options broker Matrix eyes China; Risk Alchemy Newsletter,Options

Lead Stories Exceed Investments targets Cboe Options Exchange in trade secrets case Maria Nikolova – FinanceFeeds Exceed accuses Cboe Options Exchange of Fraudulent Inducement, Promissory Estoppel, Breach of Contract, Misappropriation of Trade Secrets, and violations of the Federal Defend Trade Secrets Act. bit.ly/2yCxEV3 Derivatives broker Matrix eyes China’s options market Jack Ball – Global Investor Group Matrix in talks with ‘three or four’ Chinese exchanges for options listing – CEO New derivatives broker Matrix is targeting China’s nascent options market, one month after US electronic broker ITG took a minority share in the project. Speaking to FOW, chief executive officer…

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…

Sterling ‘Flash Crash’ Was Caused by Myriad Factors, BIS Says; Formula for Trading on Trump Tweets Eludes Wall Street’s Best and Brightest; Transparency lessons for Washington from Wall Street John Lothian Newsletter,Newsletter

First Read ICE Moves JLN Staff The Intercontinental Exchange announced the hiring of Raymond Kahn, who will focus on ICE’s Interest Rates business. Prior to joining ICE, Kahn had his own firm, Archon Capital Advisors, with a focus on the use of blockchain technology in the post-trade and settlement space. (You can see our article here.) Before that, Kahn managed Barclay’s OTC clearing platform from its inception, as well as the FCM. This is a great hire for ICE. The exchange also re-hired Brookly McLaughlin as senior director, marketing and public affairs. Some solid and interesting moves by ICE so…

Can’t Stop the Signal: FX Traders in the Era of Big Data Blog,Financials

By James Cochrane The foreign exchange markets are at an important crossroads. While these markets have benefitted enormously from technology developed over the last two decades, there remains a struggle around the best and most efficient ways to leverage continued technology innovations going forward. The era of big data has already altered FX. Instantaneous, aggregated trading information makes it possible to see markets all over the world at once and in real time. All of this new available trading information has been great for currency traders, who can run up as many trading connections as they can reasonably afford and…

John Lothian Newsletter: Bernanke, Paulson and Geithner Join Yale Effort to Update Crisis-Response Playbook; ITG pays $20m fine to settle ‘secret trading desk’ claims; Federal Judge Rules SEC In-House Judges ‘Likely Unconstitutional John Lothian Newsletter,Newsletter

First Read US options market to slam trading reforms Futures & Options World The chief exec of US options giant the International Securities Exchange will tell the US government on Thursday its plan to change US trading rules will have a “very unfortunate outcome” if it is not amended to include options. Gary Katz, speaking on behalf of the many US options exchanges, will tell the US Department of Labour in an open hearing in Washington its plan to exempt options from a new definition of the assets that can be traded by pension-holders will hurt investors. jlne.ws/1IJVX0K ***** There…

John Lothian Newsletter: Hackers tapped a bonanza of data for traders, US says; Tougher bank rules hit bond market trading; Dark pools back in the dock as regulators scrutinise ITG John Lothian Newsletter,Newsletter

First Read Bits & Pieces: Homecoming By John J. Lothian My daughter Katherine and three scouts from my Boy Scout troop returned home safely from Japan yesterday afternoon. Being a super-active teenager, Katherine immediately went to marching band camp from the airport without stopping at home. Katherine had a great time meeting scouts from all over the world. This was the first World Scout Jamboree where the U.S. Boy Scouts of America brought girls along. The U.S. is only one of six countries that separates Boy Scouts and Girl Scouts. Katherine attended the World Scout Jamboree as a Venture Scout…

John Lothian Newsletter: ITG Ousts CEO Gasser After Probe; China Dethroned as World’s Most Liquid Stock Market After Curbs; Pimco Gets Warning From SEC That Lawsuit Could Be Coming John Lothian Newsletter,Newsletter

First Read Bits & Pieces – Summer Intern Education Version By John J. Lothian Today is the kickoff (American football term) of the Summer Intern Education Series in Chicago, part of our MarketsWiki Education World of Opportunities theme. Perhaps this series was never needed more than today to help give a positive perspective on the financial markets and the opportunities in them considering today’s headlines. Today’s newsletter features a verdict in the Libor scandal and a banker finally going to jail. We have the last trial in the Madoff investigation, ITG ousting their CEO over a dark pool issue and…