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Tag Archives: LIBOR

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…

FIA IDX 2018 – Stuart Williams Says ICE Interest Rates Heating Up Feature,Mwiki,Video,video

Stuart Williams, president of ICE Futures Europe, said regulatory and macro-economic trends are putting some wind behind its interest rate complex, a welcome sign for a market that stagnated during the post-2008 crisis. Speaking with John Lothian News at the FIA IDX conference in London in June, Williams said industry adoption of MIFiD 2 rules beginning in January, rising interest rates and the uncertainty of Brexit should continue to bolster volumes in these markets in the coming months. “It’s been the combination of political uncertainty in the UK not only driving Sterling, but also Europe, which has been driving our…

SocGen executives ordered Libor rigging, US prosecutors believed John Lothian Newsletter,Newsletter

SocGen

First Read Hits & Takes JLN Staff On Monday, the NYSE will launch a new equity option contract on the NYSE FANG+ Index – a new product that offers exposure to a select group of highly-traded next generation technology and tech-enabled companies. Yesterday, 2899 contracts of the FANG+ futures traded on ICE.~JJL Invest Or Wait When The Stock Market Is At An All-Time-High? The short answer always seems to be, don’t try to time the market and invest when you can.~JB As AI research continues in a myriad of fields, including finance, this should be worrying. I guess it’s like…

ISDA eyes contingency plan as Libor demise looms; Lira meltdown John Lothian Newsletter,Newsletter

First Read Notes from Consensus – Day 3 and Recap Chuck Mackie – John Lothian News Consensus ended with a short, half-day of sessions on Wednesday, but the energy and number of participants was not diminished in the slightest. In fact, you might have thought that they were giving jobs away for free by the number of bright, young (and some old) faces that bustled at the afternoon job fair. Unlike a run-of-the-mill industry conference, where attendees linger more as a sign of duty, those at Consensus were energetic and boldly inquisitive. If only one in a hundred does well,…

US judge scraps trial into CME Group’s defence of home market; Fed Reserve checking account? John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Former Barron’s columnist Steve Sears has emerged as the chief market strategist for StratiFi Technologies. Eurex Clearing’s new partnership program, aimed at creating an EU-based clearing facility for interest rate swaps, cleared a record EUR1.7 trillion in March.~JK Cboe Global Markets’ FX volume rose 37 percent to $762.9 billion in April, up from $554 billion a year earlier. Year-to-date notional volume is up 41 percent.~JK Did you know Cboe has an office in Quito, Ecuador?~JK Joe Noviello, the former head of eSpeed, is now managing director of Dealerweb Technologies at Tradeweb, according to…