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Tag Archives: John Lothian

Putting on My Broker Hat About Bitcoin Blog,Commentary,Fintech,Mwiki,Regulation,Tech / HFT

Everyone is asking about bitcoin. A journalist called and asked to interview me. A magazine called and asked me to write something. A brokerage firm chief risk manager called to ask me my opinion about bitcoin and bitcoin futures. Two weeks ago, a former employer I have not seen in 10 years called me out in Coindesk.com for my bitcoin qualms. At the dinner table my son Robby opened up about owning not just bitcoin, but bitcoin cash, ether and monero. This is a full-fledged mania. As I was driving home last night and thinking about bitcoin (as opposed to…

Jim Kharouf Resigns as CEO of John J. Lothian & Company, Inc.; Will Continue Work with Company in Freelance Role Blog,Feature,MarketsWiki Education,Mwiki

Jim Kharouf

Jim Kharouf is stepping down as CEO of John J. Lothian & Company, Inc. at the end of the year after having assumed the role on January 1, 2017. Kharouf is leaving the company as an employee, but will continue to work with John Lothian News and John Lothian Productions as an independent contributor. He will also be exploring his own bespoke initiatives, including in the Fintech sector. Despite accomplishing much during his tenure at the company and as CEO, Kharouf is departing after philosophical differences with Executive Chairman John Lothian over the direction of the firm and management issues….

Financial Markets Leaders Remember the late Magnus Bocker Asia/Pacific,Blog,Commentary,EMEA,Exchanges, OTC & Clearing,Feature,Fintech,Mwiki

I asked several leaders around the exchange world to offer remembrances of Magnus Bocker, the late former CEO of SGX. To start, I shall offer my own and add additional remembrances as they come in. I first met Magnus Bocker at a Deutsche Bank investment banking financial technology conference in New York where I had been asked to moderate an exchange leader panel. Magnus was then president of Nasdaq OMX. Also on the panel was Larry Leibowitz representing NYSE Euronext. Magnus was always gracious with me. He was likable, always smiling, whip-smart and well-dressed. In fact one year at the…

Jim Kharouf Made a Strong Statement Blog,Commentary,MWEd,Mwiki

Jim Kharouf

FOW-JLN Event Showed His Impact on Program Jim Kharouf made a strong statement with his design, leadership and execution of the FOW-JLN Trading Chicago event on June 28th in collaboration with the FOW team and I hope the industry took notice. The event drew 210 people to talk about the key issues facing money managers, traders, exchanges, clearinghouses, brokers, vendors and the industry. What was special about the co-sponsored event was that the program used many of the items in our toolbox to deliver an interesting, educational, lively and real event. With much help and support from FOW, we featured…

Correction: NFA and FINRA Do Recognize Other Regulator’s Bans Americas,Blog,Commentary,Investing & Trading,Mwiki,Regulation,Regulation & Enforcement

John Lothian

It turns out that the NFA and FINRA do jointly recognize the bans of other regulators already. In the specific case I mentioned, that of Jon Corzine, he would register if necessary with the SEC. Whether the SEC will recognize the ban of another regulator is a question I am still awaiting an answer. There is a loophole that was expanded by Dodd-Frank that allows hedge funds with less than $150 million to not have to register with the SEC. Tom Sexton of the NFA responded to my inquiry by saying: With regard to your column last week, you should…

Time to Close the Asset Class Ban Loophole Blog,Commentary,Investing & Trading,Mwiki,ReformWiki,Regulation,Regulation & Enforcement

Corzine and his ilk Should be Banned Across All Asset Classes Note: A correction to this story has been posted here. The NFA and FINRA to recognize the bans of other regulators. With the recent news that former MF Global CEO Jon Corzine is attempting to make a comeback at age 70 as a hedge fund manager, it became clear there is a hole in our regulatory system that needs to be fixed. Corzine is banned for life by the CFTC from trading futures, yet he can operate in the securities and FX worlds managing other people’s money. It is…

MarketsWiki Hits 100 Million Page View Mark Blog,Commentary

MarketsWiki crossed the 100 million page view mark yesterday. 100,000,000! Talk about big data! MarketsWiki is what transformed John J. Lothian & Company, Inc. into a real company with employees, culture and ambition. Before it launched, JJLCO was just me and a deal with Jim Kharouf on the Environmental Markets Newsletter. From the idea I shared at the FIA Boca Conference in 2007 sprung the platform that would allow JJLCO to utilize the goodwill it had built up and turn that into cash to build MarketsWiki, which now has more than 22,000 pages. Jon Matte was the first hire and…

Twenty-five Years Later Blog,Commentary

A Trip to Purdue Changed My Life Twenty-five years ago, I traveled back to my alma mater Purdue University in West Lafayette, Indiana and it changed my life. I head back down there again today for a day at Purdue at the Krannert School of Management. Twenty-five years ago a former college roommate, who I will dine with tonight, took me on a tour of the university campus and showed me all the changes that had occurred in the 10 years I had been gone. He showed me a new dormitory with suites of rooms that had one key feature…

My Picks for CFTC and SEC Commissioners Blog,Commentary,Mwiki,Politics,Regulation

Despite repeated inquiries to knowledgeable industry players, there is little buzz about prospective new CFTC and SEC Commissioners outside of the chairmen. So if there is no buzz, then let’s create some of our own in time for the FIA Boca Raton International Conference.  I am going to give you my top ten potential candidates for each commission in alphabetical order. That they are on the list does not mean they would be willing to serve, but it does mean I believe they are eminently qualified to serve. I am also going to share with you honorable mentions. These are others…