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Tag Archives: JPMorgan

John Lothian Newsletter: CFTC, SEC Inch Closer to Full Strength With Nominations Moves; Intercontinental Exchange – Cybersecurity, economic volatility and political uncertainty top list of concerns for corporate boards in 2016; Nasdaq could be next after LSE deal, says Credit Suisse John Lothian Newsletter,Newsletter

First Read Looking Ahead Don Wilson, CEO, DRW Holdings, this week’s guest editor As we close the week, I’ll pick back up on ideas I shared in Monday’s newsletter. Regulation designed to reduce the risk of another financial crisis is being phased in. I would summarize the primary tenets as (1) reduce leverage and risk and (2) ensure that most derivatives are cleared. There is good logic to both thoughts – less leverage is less risky, and futures markets performed flawlessly through the crisis. Of course it’s never easy to go from well-intentioned concepts to practical implementation, but I will…

John Lothian Newsletter: Banks face $27bn risk from failed derivatives payments; JPMorgan Quietly Tests ‘Blockchain’ With 2,200 Clients; Hong Kong Exchange adds new renminbi futures John Lothian Newsletter,Newsletter

First Read Risk Off: How The Industry Can’t Fail Jim Kharouf, JLN 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…

John Lothian Newsletter: DoJ investigates traders over debt-market rigging; Colm Kelleher takes bigger role in Morgan Stanley reshuffle; JPMorgan to pay $4 million for false statements about broker pay John Lothian Newsletter,Newsletter

First Read And Now for Something Completely Different Jim Kharouf and Doug Ashburn – JLN In an effort to continue doing what we do best – tell the story of the industry – we are adding something new for 2016 – actually it is something we used to do in a couple of our sector newsletters – sharing the top stories from the previous day. What better way to judge the state of the industry than to share what fellow readers are reading. Our top read story of the day yesterday wasn’t a story at all, but a link to…

John Lothian Newsletter: Speed Traders Wanted: Russia Brokerage Courts Fastest U.S. Firms; Warsaw stock exchange chief executive resigns; CME defeats suit alleging it favored high-frequency traders John Lothian Newsletter,Newsletter

First Read Trying To Stop The Next Flash Crash JohnLothianNews.com The CFTC announced its new automated trading rules, marking a major shift on how automated trading will be developed and implemented in the coming years. View the Story » **This story has been updated with new information about self-match trading as well as more analysis on registration and other components in the proposed rule. It’s worth another look, and another when we update the story today and in the coming days. ++++ Chicago Inno Announces the Winners of the 50 on Fire Awards PRNewswire Chicago Inno announced the winners of…

John Lothian Newsletter: ICE sets November date for delayed Singapore launch; Operation to steady China stocks a success, but patient comatose; Deutsche Boerse puts Asia exchange on back burner John Lothian Newsletter,Newsletter

First Read MarketsReformWiki Reaches a Milestone Doug Ashburn – JLN While we were sleeping, some time between midnight and 3 a.m. this morning, the page counter on MarketsReformWiki, our regulatory database, topped the 10 million mark, four and a half years after going live. The site was started in 2011, just as the CFTC, SEC and other regulators began proposing rules and hosting roundtables, and market participants responded with comment letters, white papers and other research. The goal of the site was simple – cut through the thousands of pages of legalese and present the information in a way that…

John Lothian Newsletter: Corzine, others settle MF Global lawsuit for $64.5 mln; JPMorgan to pay over $125 million to settle U.S. credit card debt probes; CFTC stays ICE’s plan to raise position limits in power contracts John Lothian Newsletter,Newsletter

First Read Bits & Pieces by JLN Staff MarketsWiki just passed the 65 million page view mark. A big thanks to all of our users. We have added John Kerin, the CEO of the Chicago Stock Exchange, to our list of speakers for the Chicago Summer Intern Education Series. We hope to add another tall speaker who will be spot on. In case you missed it, we added James Gellert of Rapid Ratings and technology entrepreneur John Edge to our list of speakers for the New York events. Here is the line up for New York. At 1 PM, we…

John Lothian Newsletter: JPMorgan settles forex manipulation lawsuit; Ponzi Victims Seek to Query Madoff Before It’s Too Late; Swap Markets Debate Anonymous Trading in SEFs John Lothian Newsletter,Newsletter

First Read Bits & Pieces by John J. Lothian Every year the CBOE holds a press lunch in Chicago in January. It is normally a very nice affair with a good turnout of Chicago-based industry journalists. It was after last year’s press lunch that I wrote a column titled “The CME Should Buy the CBOE Soon.” On January 24, 2014 the price of the CBOE stock was about $50. It closed that day at $50.03. The lowest it has traded since that day is $46.73. Yesterday the shares in CBOE Holdings, Inc. hit $65.00. That is up 30% in about…

John Lothian Newsletter: Banks face new probe over mortgage bond trades post 2008; Derivatives competition unlikely despite Mifid II push; JPMorgan Joins Chi-X Global Ownership Consortium John Lothian Newsletter,Newsletter

First Read New MarketsWiki Sponsor John Lothian News is pleased to announce the addition of Depository Trust & Clearing Corporation (DTCC) as a Premier sponsor of MarketsWiki and MarketsReformWiki. DTCC provides clearing, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, money market instruments and over-the-counter derivatives. In addition, DTCC processes mutual funds and insurance transactions, linking funds and carriers with their distribution networks. The company also operates the Global Trade Repository, which allows OTC market participants in the U.S., Europe, Japan and Hong Kong to meet regulatory reporting requirements. Mandatory reporting under EMIR begins…

JLN Options: Fear Gauge Sees Stock Volatility Abating Even Further Newsletter,Options

Lead Stories Fear Gauge Sees Stock Volatility Abating Even Further  Kaitlyn Kiernan, The Wall Street JournalThe spread between reality and expectations is widening.Lately, actual volatility in the Standard & Poor’s 500-stock index has been higher than the volatility implied by readings on the Chicago Board Options Exchange’s Volatility Index. The gap between the two metrics is the largest positive divergence between the two readings since December 2011.http://jlne.ws/10lgMpZ Bobcat Goldthwait Demonstrates VolatilityRussell Rhoads, CBOEThe industry standard for measuring market volatility is the CBOE Volatility Index better known as VIX.  One of the behaviors of VIX is that it tends to revert to…