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Tag Archives: LIBOR

U.S. Targets Bitcoin Exchange, Alleging It Facilitated Crime; The 2017 Tech 40; Libor: missin’ you already John Lothian Newsletter,Newsletter

First Read Hits & Takes By JLN Staff It with great sadness we report the passing of former SGX CEO Magnus Bocker, who died of cancer in St. Louis, MO just before his 56th birthday. Magnus was a generous and well-liked member of the global derivatives industry and was a leader of OMX, Nasdaq and SGX. He will be missed. Condolences to his family, friends and former colleagues. John Lothian first met Magnus at a Deutsche Bank investment banking conference in New York when he was with Nasdaq OMX. ~JJL The Chief Scout of the Boy Scouts of America issued…

Libor to End in 2021 as FCA Says Bank Benchmark Is Untenable; Digital-Coin Companies Shrug Off SEC Scrutiny; Commodities giant Noble Group shrinks down as it warns of $1.8bn loss John Lothian Newsletter,Newsletter

First Read Hits & Takes Yesterday’s most viewed pages on MarketsWiki included Diane Swonk, LedgerX and FIA Futures Hall of Fame. Among other interesting viewing stats, Sernova Financial, the cloud-based post-trade clearing utility, has been viewed 465 times since we created a page on the firm on July 11. Not bad. ~JK Just in case you missed our second most read piece yesterday, here is the JLN story: Are we seeing the end of Wall Street and the beginning of a new one? ~JK Did you know that the CFTC’s Commitments of Traders report traces its roots to 1924? Or…

ICE’s Hutcheson Talks Benchmarks and Assuming the Helm of ICE Clear Europe Feature,Video,video

“I think there’s a strong push from the regulatory side to make non-standardized business expensive. That has already started to bite in a number of asset classes but hasn’t really reverberated fully through the industry.” Finbarr Hutcheson, currently the president of ICE Benchmark Administration (IBA), will be taking over ICE Clear Europe later in the year when Paul Swann retires. In the meantime, Hutcheson still has plenty to focus on at IBA.  Opened for business in 2014, IBA maintains three key benchmarks: LIBOR, ICE Swap Rate (formerly ISDAFIX) and the LBMA Gold Price. But it is expanding into some non-benchmark…

Are Traders Creating a Bizarre New Feedback Loop?; Lies, Damn Lies, and Financial Statistics; ICE Clear Credit Expands Clearing for Global Financial Corporate Single Name CDS John Lothian Newsletter,Newsletter

First Read Bits & Pieces By John J. Lothian It has been two years since Spencer Doar joined John Lothian News as an intern, then later becoming a full-time employee and integral part of the JLN Team. He has the second longest employment streak at the company of someone who is a Chicago White Sox fan. Not sure how that happened. Our survey prize went to Kevin Brennan of INTL FC Stone. Congratulations Kevin, I hope you enjoy your Amazon Echo. Thank you to all who participated in our survey. We greatly appreciate it. My friends at the Pathway to…

Has the blockchain hype finally peaked?; Launch of Consortium and Proof of Concept Testing for Capital Market Infrastructure Utilizing Blockchain Technology; RBS Falls on BOE Stress Test Failure, Plan to Shrink Further John Lothian Newsletter,Newsletter

First Read Blockchain That Makes Sense: How Post-Trade Digital Ledger Technology Will Make Banks And Brokers Happy Jim Kharouf – JLN When you talk about the potential for digital ledger technology, words like revolutionary and transformative are often mentioned. Ray Kahn and Thorsten Peisl are not in the disruptor camp. Yet both left solid jobs in the financial markets and launched blockchain start-ups aimed at bringing new efficiencies to the marketplace. Their message about blockchain was clear at the World Federation of Exchanges annual meeting in Cartagena, Colombia this month. Yes, blockchain is coming. No, it’s not going to turn…

John Lothian Newsletter: CFTC Closes U.S. Banks’ Loophole on Swaps; Why the Law Failed to Punish Wrongdoers in the Financial Crisis; Barchart names Mark Haraburda as CEO John Lothian Newsletter,Newsletter

First Read MarketsWiki Education World of Opportunity Series 2016 Schedule Announced4th Annual Education series will stop in four cities in 2016; CME Group returns as Global Premier sponsor Do you want to help the next generation? The 4th Annual MarketsWiki Education World of Opportunity series is coming to five cities in 2016, including Chicago on July 12th, 14th and 15th, New York on July 19th and London, Paris and Frankfurt in late October. Interns, new employees and anyone interested in learning more about the past, as well as present opportunities and careers in the capital and derivatives markets should attend….

John Lothian Newsletter: Banker Accused of $25 Million Fraud Arose From a Gilded Legacy; U.S. judge rejects 14 banks’ bid to throw out rate-rigging lawsuit; Bats to Provide Market and Trade Data to Money.Net John Lothian Newsletter,Newsletter

First Read A Most Interesting Charity Challenge Without Cold Water By John J. Lothian I have a challenge for the readers of this newsletter that does not involve cold water, but does include a donation to the Futures For Kids charity. The week before the FIA Boca Raton International Conference news broke that Dos Equis spokesman Jonathan Goldsmith, known as “The Most Interesting Man in the World” was being replaced by the beer maker with a younger replacement. You could be the next MIMITW. Here is the plan. You need to shoot and share with us an audition video for…

John Lothian Newsletter: Market fears are feeding on themselves; Exchanges warn against giving brokers power over key decisions; Swedish Bank Move Creates a Global Shudder John Lothian Newsletter,Newsletter

First Read Five-Decade Market Pro Who Called Bond Rally Sees 1% U.S. Yields Andrea Wong – Bloomberg Gary Shilling sees Treasury gains as global rates go negative; Former Merrill Lynch top economist says this cycle is unique A year ago, with U.S. equities approaching record highs and the Federal Reserve moving toward raising interest rates, Gary Shilling was a lonely voice on Wall Street predicting financial-market gloom in the 12 months ahead. goo.gl/IoHWsq ***** I am just hoping to get a 3% 30-year mortgage soon.That would be the rate my parents had for the house I grew up in. ++++…

Smalls and Mediums: Richard Sandor Looks To Transform The Small and Mid-Tier Bank Sector – Part 2 Interview

(Scroll down to view the entire story or click here to view the story on Sway.) Richard Sandor has introduced markets to everything from interest rate futures to greenhouse gas derivatives over the past 40 years. Now he’s shifted his attention to small and mid-sized banks with a new exchange platform called the American Financial Exchange. In Part 2 of our exclusive interview with John Lothian News, Sandor explains why this is the right time launch the exchange, how similar it is to launching bond futures in the 1970s and the plan for AFX going forward.