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Tag Archives: JLN FX

John Lothian Newsletter: LME Eliminates NYSE Euronext From Sale Bids; Deutsche Börse Group to reduce equities clearing fees; In about-face, Greece pays bond swap holdouts John Lothian Newsletter,Newsletter

The London Metal Exchange looks over the buyout bids it received, and tells NYSE Euronext, “Hey, thanks for playing. But no.” Eurex Clearing announces a fee cut of up to twenty percent for Xetra transactions. Greece decides not to stiff its bondholders in the middle of a contentious political reorganization, and makes its payout as required. In the top box, you’ll find JPMorgan commentary by Doug Ashburn from yesterday’s JLN FX Newsletter; and John connects the dots between winning, horrible trading losses, and food.

John Lothian Newsletter: Chicago Stock Exchange Plans New Market, Open To Alliances; CBOE’s CEO Sees Compliance Review Continuing; ISDA warns against competing clearing houses John Lothian Newsletter,Newsletter

The Chicago Stock Exchange looks to open an electronic trading platform to increase business, and mentions its interest in strategic alliances. The CEO of CBOE says that as it continues to work with regulators, additional compliance-related reorganizations and changes are likely.  Lots of news from the ISDA conference (both in Lead and in the Regulatory News section); check the headlines inside for details.  Lots of exchange volume reports in the top and Exchange sections, and some of the news is quite good in places.  Also in the top box, JLN FX editor Jonathan Matte provides perspective on Iceland’s quest for…

John Lothian Newsletter: CME to Require Daily Customer Fund Reports Following MF Failure; SEC Puts Exchanges on Notice Over Computer-Driven Trades; Counterparty gone bust? You still have to pay John Lothian Newsletter,Newsletter

CME Group announces plans to require customers to submit daily reports regarding the dispositions of customer funds, as part of its anti-MF-Global remedy. The SEC says that exchanges share part of the responsibility for protecting investors from technology-related trade problems and failures. In the UK, a court rules that solvent counterparties must still honor their end of a deal, even if the other side of the deal goes bust. Around the newsletter, you’ll find more volume reports and analysis; more C-suite appointments at exchanges, banks and associations; and commentary from Harpal Sandhu via the JLN FX newsletter about the evolution…

John Lothian Newsletter: CME Group, BM&FBOVESPA Agree to x-list Index Futures; Libor Links Deleted as BBA Backs Away From Tarnished Rate; Athens, creditor group turn up heat on Greek bondholders John Lothian Newsletter,Newsletter

CME Group and BM&FBOVESPA agree to cross-list stock index futures, probably with a somewhat simpler symbol than CMEBMFBOVESPASP500. The British Bankers Association, as it helps to consider an improved way to calculate Libor that doesn’t involve collusion, quietly removes links on its web site to material explaining how they helped to design the old way of calculating it. Greece tells creditors balking at the bond swap deal that if they don’t accept the losses in the package, Athens may forcibly hand it to them anyway. TOCOM says no way, it’s not asking CME Group to take a stake in the…

John Lothian Newsletter: Opposition to Japanese Bourses Tie-Up Mounts; NYSE sets ‘full service’ clearing house for London; MF Global Trustee Sees $1.6 Billion Customer Shortfall John Lothian Newsletter,Newsletter

Osaka Securities Exchange investors tell company management to demand more-bigger-better in the pending deal with TSE. NYSE-Euronext declares its interest in creating a full-on clearing service in London. The MF Global bankruptcy trustee, after using ALL the fingers, believes the shortfall is now around $1.6 billion, given anticipated difficulty in clawing money back out of Europe. Rumors suggest that LCH.Clearnet is nearing an announcement regarding a change of ownership. In the top box, JLN announces a new video service: John Lothian Productions; and JLN Metals and JLN FX newsletters and blogs find new editors in Nicole Rohr and Jon Matte,…

John Lothian Newsletter: NASDAQ OMX and IKON GLOBAL MARKETS Launch Spot Gold Futures; EU seeks to patch up differences with UK over banks; Concession Smooths Way Toward a Greek Debt Deal John Lothian Newsletter,Newsletter

Nasdaq OMX and IKON Global Markets launch a new spot gold futures product. The EU, hoping to make nice with the UK banking regulators, says that perhaps there’s room in future EU financial regulation to allow a nation to impose stricter local oversight. The European Central Bank agrees to concessions that should make a bailout of Greece more likely, and more likely to work. Direct Edge and ICAP Energy both win awards for being very good at what they do. And in the top box, JLN FX’s Doug Ashburn floats some explanations of the broad decline in FX volume.

John Lothian Newsletter: Deutsche Boerse CEO says consolidation is inevitable; S&P Gets No Respect in Market With Lower Yields After Downgrades; World Bank warns emerging nations John Lothian Newsletter,Newsletter

DB’s Reto Franconi says that even if the DB-NYSE merger fails, he’ll still be looking for ways to merge his exchange with others.  S&P’s downgrades of various countries, banks and funds creates a lot of attention, but not much immediate reaction from investors.  The World Bank sounds a grim note to emerging nations, warning them to prepare for financial trouble if the European crisis continues to worsen.  In the top box today, double commentary:  one from Doug Ashburn of JLN FX on Mario Draghi; and one from Jim Kharouf of JLN Managed Futures on the state of the managed futures…

JJLCO launches JLN FX Blog

Today John J. Lothian & Company, Inc. launched a new news service, the JLN FX blog (and forthcoming email newsletter). JLN FX provides traders, investors and other market participants with a comprehensive aggregation of news, commentary and original features about the exchange traded and related OTC currency markets.