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Tag Archives: LIBOR

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…

Addressing the Financing Needs of Midsize Banks – Richard Sandor, AFX Feature,Mwiki,Video,video

Started at the end of 2015 to address the interbank funding needs of small and midsize banks, the American Financial Exchange (AFX) just welcomed its 80th member, bringing its clients’ assets to more than $1 trillion.   In this video from JLN’s annual series with industry leaders, AFX CEO and Chairman Richard “Doc” Sandor talks about American economic recovery as it relates to bank funding needs, seeking more nonbank lenders and potential derivatives that could be launched on AFX’s products once the exchange hits $1 billion in daily transactions, which Sandor considers critical mass. Produced by Mike Forrester Interview by…

New SEC broker-dealer rule proposal; Challengers to Libor; VIX-rigging? John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Cboe Global Markets announced the settlement of its April expiry bitcoin futures, the fourth contract settlement conducted since the product’s launch on December 10, 2017. The settlement price was $8,055.68.~SR Quote of the day: “I quite understand at the end of the day everybody evolves and changes. China was a developing market that has developed in part because they needed to — they had an economy based on export at all costs…when you have to grow at 10 percent because you have to accommodate a population moving from villages to cities — and…

Kraken Pulls Out of Japan; Attorney Berkovitz to CFTC; Russia blamed for global cyber attack John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff A JLN Special: The 4th annual FinTech Exchange hosted by Barchart on April 25 & 26 in Chicago is giving away 10 tickets to the event, hosted at Venue SIX10 at 610 South Michigan Avenue. This year’s event will showcase presentations from fintech leaders on alternative data, trading innovation, blockchain in capital markets and cryptocurrencies. Hear from the bitcoin exchange Kraken, CME Group, Cboe Global Markets, AFX’s Richard Sandor and many more. This year’s event also features a new, half-day competition on April 25 called Startup Exchange, featuring fast presentations from 16 startupsóincluding…

Bidding war erupts over Fidessa acquisition; Spotify debut; China retaliates John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Yesterday I |announced some promotions for John Lothian News staff members. Managing Editor Sarah Rudolph added the title head of editorial operations, and Spencer Doar was promoted to editor from associate editor. Jeff Bergstrom was given responsibility for cryptomarkets news, Mike Forrester was promoted to producer from video editor, and Jim Kharouf was named contributing global markets editor.~JJL While updating the titles for these JLN team members, we did a major overhaul of the MarketsWiki page for John J. Lothian & Company, Inc.~JJL Institutional Investor has published its annual Trading Tech 40 list…

SEC charges ICO backers with fraud; Libor alternative; UK gender pay gaps John Lothian Newsletter,Newsletter

First Read Hits & Takes JLN Staff Dr. Richard Sandor, chairman and CEO of AFX, will discuss his personal journey of innovation throughout the capital markets during a keynote presentation at Fintech Exchange 2018 in Chicago on April 26.~JJL Speaking of the AFX, they set a volume record in March.~JJL CME Group put out a couple of pieces about Asia recently. In case you missed it, March 22 had The Growing Influence of Asia In Derivatives Trading and on March 29 CME published Asia’s Growing Role in Energy Trading. Sensing a theme yet?~SD According to their 2017 Corporate Citizenship Report,…

Vol products in the spotlight; Cboe’s pain; New VIX ETP Danger Newsletter,Options

Lead Stories Wall Street’s volatility products in the spotlight; Market retains potential for upsets after February’s ‘Vix-mageddon’ Christian Pfrang and Robin Wigglesworth – Financial Times (SUBSCRIPTION) A month ago global markets were thrown into a tailspin, with US equities suffering one of their fastest 10 per cent corrections in history. The mayhem raised questions about a small but complex corner of markets where investors trade volatility itself. jlne.ws/2FZ4elX ****SD: I still like vol-cano over Vix-mageddon. Armageddon is a one-off affair while volcanos light up with frequency. One line from the article that I’d say requires a lot more stipulations is:…

U.S. considering ‘material changes’ to ‘Volcker Rule’; Stock Bulls in Trump Country; Replacing Libor is harder in practice John Lothian Newsletter,Newsletter

First Read The Man Who Molded Chicago’s Merc; Leo Melamed, chairman emeritus of CME Group, helped make his company the world’s largest manager of financial exchanges. Now he’s focusing on the development of Asian markets Jacob Bunge – WSJ In 1939, Leo Melamed learned about the power of financial markets in a bakery in Vilnius, Lithuania. He was 7 years old, trying to use Polish money to buy a loaf of bread. Though Lithuania’s government had deemed the two countries’ currencies equal in value, the baker informed Mr. Melamed that he’d need two Polish zlotys for a loaf that cost…