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Tag Archives: LIBOR

Meet the Robot Who Knows How to Trade Bonds Better Than You Do John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff On Sunday I commemorated the end of World War I and Veterans Day in the US by attending a program at Elmhurst College put on by a local VFW group. The Elmhurst College band played, local Boy Scouts participated in the flag ceremony and veterans spoke of their experience. It was a moving program. I enjoyed the historic music played the most. During the ceremony I reflected on the fact that my grandfather, for whom I am named, celebrated his 18th birthday in a trench in France. And last week, my wife’s stepfather,…

US threatens to bar EU banks from exchanges John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff FIA Expo, which began Wednesday, is an international conference, with participants coming to Chicago from all over the world, so of course Brexit and reconciliation of EU and US rules were big topics. CFTC Chairman Christopher Giancarlo woke up the crowd when he criticized the EU’s planned EMIR amendments, calling them “unprecedented and wholly unacceptable.” He said he hoped to be able to negotiate changes, but held out the threat – if that doesn’t work – of stopping EU banks from using US exchanges. ~SR The Exchange Leaders panel was lively, with Nasdaq…

CFTC Faces Cash Crunch, Offers Buyouts; Markets face race to end Libor links John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff A story of violence reported in the local newspapers about a man who stabbed his wife to death in a suburb of Chicago hit home when I read the name of the accused. Gary A. Kamen, a long time industry professional in our markets, was the accused murderer. He is charged with two counts of first-degree murder stemming from the fatal stabbing of Karyn Kamen, 53, authorities said. A judge set bail at $10 million Sunday for the 55-year-old Kamen, of Deerfield, IL. I met him first when he was working with a…

The Markets Will Stop a Trade War; Nasdaq’s Crypto Policing Meeting; Forest Fires John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff We have three changes for the upcoming MarketsWiki Education World of Opportunity series in Chicago. Renato Mariotti was called to Atlanta by CNN on Monday, so he will not be speaking on Thursday, August 2. We have moved Bill Weldon from Tuesday to Monday to fill Renato’s space and moved Jessica Darmoni from Thursday to Tuesday to fill Bill’s vacated spot. There is always some last minute change. ~JJL Priceonomics posted a blog about which companies in the S&P 500 generated the most revenue per employee (RPE) in 2017. 13 of the top…

Texas Heat Record; Wall St. Unprepared for Libor’s Absence; Trump’s Trade Tweets John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Are your interns signed up for MarketsWiki Education in Chicago on July 30, 31 and August 2? This don’t miss series still has some room for more. Sign up at www.marketswikieducation.com.~JJL With the large number of stories out there about artificial intelligence taking over (see yesterday’s piece in The Trade) – it’s fitting to relink to a JLN video from earlier this year – Myths and Misconceptions Surrounding Artificial Intelligence. Basically, saying “artificial intelligence” doesn’t always mean the super complicated thing you think it means. The video features Inderdeep Singh of CME Group,…

Nasdaq to Provide Clearing Technology to SIX for Clearing Overhaul John Lothian Newsletter,Newsletter

Clearing House

First Read Hits & Takes JLN Staff The JLN team is home after a successful day two of MarketsWiki Education World of Opportunity in New York at Nasdaq yesterday. We had 12 speakers who knocked it out of the park. Thank you to Nasdaq for hosting day two and for all our sponsors and speakers. Thank you too to the hard working JLN staff. The videos will start rolling out in the coming days and weeks.~JJL During the merit badge workshop on Tuesday at Nasdaq, Robby Lothian had to give an impromptu two minute speech as part of the badge….

The LIBOR Transition Feature,Mwiki,Video,video

LIBOR, a key benchmark for short-term lending between banks, has had its reputation sullied in the wake of rigging scandals. Now, markets are struggling to find proper replacements. SONIA, a sterling interest rate replacement, is live. In this video, CurveGlobal CEO Andy Ross talks about how futures markets are adapting to the transition and what tools are available to aid with the switch.   Produced by Mike Forrester Interview by Jim Kharouf

SIX launches crypto platform; Trade war begins; Credit Suisse fined John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Darin Diller, a former futures operations industry veteran (J.P. Morgan, Geneva Trading USA, Newedge and First Capitol Group), passed away from natural causes as a result of advanced diabetes on July 1, 2018. He was 50.~JJL The latest Financial Data for FCMs report is out from the CFTC.~JJL At 12:16 AM I tweeted this story because I could not sleep: “Sleep deprivation is part of our productivity problem“~JJL The Boy Scouts of America closed the backcountry season for the Philmont Scout Reservation due to extreme wildfire conditions.~JJL I am signed up for a…

Endangered Options Specialists; FX volatility; Derivatives need LIBOR alternative Newsletter,Options

Observations & Insight Miscellany for Friday SD– JLN Perusing the day’s most active option chains on the OIC’s website yesterday was a bit wonky. Only one of the 19 most active equity symbols had more put activity than calls, that being FOXA (21st Century Fox). On the ETF side, there was a lot of lopsided action. TLT (20-yr Treasuries) saw 92 percent of its activity on the call side. The flip side of that coin – ETFs dominated by put activity – was populated by EEM (emerging markets), QQQ (Nasdaq), EWZ (Brazil) and SMH (semiconductors), with puts accounting for 80…