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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…

The Fed Unwinds; BTS Launches BTS Spark John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff The Giving Tree This is a different type of giving tree, so hang with me. There are a number of announcements to be made today. If you had not seen the information about the visitation for Les Rosenthal, here it is: Chicago Jewish Funerals, 8851 Skokie Blvd. Skokie IL 60077, today, September 19, between 1:00 p.m to 4:00 p.m. In lieu of flowers, contributions in his memory may be made to a charity of your choice. There are a number of charities listed. In recent days prior to the sad news, JLN…

Jamie Dimon Slams Bitcoin as a ‘Fraud’; Barchart Launches High-Performance Cryptocurrency Feed John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff To assist the Tampa community during this time of need, DTCC is donating $5,000 to the Community Foundation of Tampa Bay, which has established The Tampa Bay Disaster Relief and Recovery Fund in partnership with several local organizations, and an additional $5,000 to the American Red Cross. They also continue to raise money for the victims of Hurricane Harvey, which now stands at nearly $40,000 thanks to the generosity of their employees, DTCC’s corporate donation of $5,000 and their company match scheme. ~JJL If any NFA Members located in Houston, Florida or…

Are Traders Creating a Bizarre New Feedback Loop?; Lies, Damn Lies, and Financial Statistics; ICE Clear Credit Expands Clearing for Global Financial Corporate Single Name CDS John Lothian Newsletter,Newsletter

First Read Bits & Pieces By John J. Lothian It has been two years since Spencer Doar joined John Lothian News as an intern, then later becoming a full-time employee and integral part of the JLN Team. He has the second longest employment streak at the company of someone who is a Chicago White Sox fan. Not sure how that happened. Our survey prize went to Kevin Brennan of INTL FC Stone. Congratulations Kevin, I hope you enjoy your Amazon Echo. Thank you to all who participated in our survey. We greatly appreciate it. My friends at the Pathway to…

Empty Seats at Regulators Hold Back Trump Bid to Undo Dodd-Frank; Clearing houses see record volume as new rules boost activity; ETFs Are the New Bond Kings John Lothian Newsletter,Newsletter

First Read End of a Series Today concludes our annual Exchange Leaders Series from FIA Boca, with an interview with Matt Chamberlain, interim CEO at the LME. In all, the series included eight different exchange executives who sat down to speak with us at the conference last month. If you haven’t seen them, they are all included below. Each has their own way of summing up 2016 and what is happening at their respective markets in 2017. The FinTech Exchange conference tickets went fast yesterday. Thanks to all who played. The conference is in Chicago on April 27. Tickets, just…

John Lothian Newsletter: Direct Match hires ex-equity exchange chief in launch push; Vitriolic Presidential Primaries Quelling Economic Uncertainty; EU Lawmakers Approve MiFID II Market Rule Delay by One Year John Lothian Newsletter,Newsletter

First Read ICAP’s blockchain initiative would slim down middle and back office processes Sarah Rudolph, JLN Excitement about blockchain technology and debate about the potential uses for it were top of mind at last month’s FIA Boca conference, and one of the more likely possibilities for its use is to streamline post trade operations for banks and their FCMs. ICAP, the largest broker for OTC trading, just completed a successful proof of technology test case using blockchain technology and the company believes it could transform the middle and back office, cutting down dramatically on the number of processes necessary and…

John Lothian Newsletter: LSE’s Derivatives Market to Launch Despite Talks With Rival; Exchange consolidation puts clearing house risk in the spotlight; U.S. watchdog to probe Fed’s lax oversight of Wall Street John Lothian Newsletter,Newsletter

First Read 2016 and Counting… Carl Gilmore, President, Integritas Financial Consulting Good morning John Lothian Newsletter readers! It is good to be back as the guest editor for the week, and I want to thank my friends at JLN for the opportunity. For those of you who don’t know me, let me take a moment and introduce myself. My name is Carl Gilmore and I am the president of Integritas Financial Consulting. I’ve spent the last 26 years working for futures commission merchants and broker-dealers in operational, risk management, compliance, legal, client-facing and executive roles. Along the way I think…

Risk Off: How The Industry Can’t Fail Commentary

Bruno Iksil, aka “the London Whale,” has issued a letter to the media arguing that his actions in the market were directed and overseen by senior executives at J.P Morgan Chase when it lost $6 billion in 2012. What is troubling about the case is that it is still a story. In pre-2008 years, if a trader lost a large sum of money, it was called a losing trade. But these days, it’s cause for a multi-year investigation. The crux of the problem with this case is simply this, J.P. Morgan Chase lost $6 billion, but it HAD and HAS…

John Lothian Newsletter: Market fears are feeding on themselves; Exchanges warn against giving brokers power over key decisions; Swedish Bank Move Creates a Global Shudder John Lothian Newsletter,Newsletter

First Read Five-Decade Market Pro Who Called Bond Rally Sees 1% U.S. Yields Andrea Wong – Bloomberg Gary Shilling sees Treasury gains as global rates go negative; Former Merrill Lynch top economist says this cycle is unique A year ago, with U.S. equities approaching record highs and the Federal Reserve moving toward raising interest rates, Gary Shilling was a lonely voice on Wall Street predicting financial-market gloom in the 12 months ahead. goo.gl/IoHWsq ***** I am just hoping to get a 3% 30-year mortgage soon.That would be the rate my parents had for the house I grew up in. ++++…